109 Ellis St
Petaluma, CA 94952
Land For Sale · 0.70 AC

MAJOR $200,000 PRICE REDUCTION!! OWNER WILL DO SHORT TERM FINANCING!!. Owner will consider carrying a first trust deed with 25% down for up to 18 months while Buyer goes through the permitting process and gets construction financing. This rare 13-unit apartment development opportunity is fully entitled by the City of Petaluma, presenting the culmination of great effort by architect and designer Jerry Kler and his team. New product is extremely scarce in Petaluma, and this strategically located and manageable project is located within walking distance of the new SMART line and super close proximity to the trending historic downtown area, shopping, restaurants, schools and other amenities. With a unique design approved for 12 two-bedroom two-bath townhome style units with an upstairs loft in a spacious 1,115 sq. ft naturally lit floor plan, and one studio low-income unit. Enclosed garages, open parking, courtyards, private balconies, open space, a workout room, a pool and BBQ area and expectation of high rent demand for a scarce product oriented toward a younger affluent tenant base. A great developer's project in a high-demand, culturally growing city.