14554 Memory Lane

Description

8-Unit multi-family property with excellent current cash flow and significant rental upside. Built in 1940, the property is comprised of eight (8) individual cottages located above the Russian River in Guerneville, CA. Estimated at a combined 5,200 square feet of rental space, the property sits on a large 2.1-acre parcel in the town of Rio Nido. Half of the units have been updated with new kitchens, bathrooms, flooring, in-unit water heaters, updated electrical and plumbing. Each of the eight units features a fireplace, washer/dryer hookups, front and back porches and spectacular views of the river and surrounding valley and hills. The property has new gutters and downspouts, is on city sewer and water, has separate meters for PG&E and does not require flood insurance. The county previously approved an 8-parcel subdivision map providing a potential resale opportunity (check with the County of Sonoma). This is an ideal location above the Russian River on a quiet street surrounded by attractive homes and nature. The property is only a short drive to a variety of wineries throughout Sonoma County and the various restaurants and stores in downtown Guerneville.