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Six Unit Income Property with Rent Upside 2131 Naomi Pl 6 Unit Apartment Building $1,695,000 ($282,500/Unit) 3% Cap Rate Santa Rosa, CA 95403
Executive Summary
Located at the end of a private cul-de-sac in desirable West Santa Rosa, this well-maintained multi-unit property offers a compelling opportunity for investors seeking stable cash flow with upside. The property consists of six units across three separate buildings, including four spacious two-bedroom, two-bath units and two one-bedroom, one-bath units. Built in 2002 and in excellent condition, each unit features its own detached one-car garage and on street parking. All units are currently rented below market, presenting a clear value-add opportunity through future rent growth while maintaining strong occupancy. Conveniently located near shopping, dining, entertainment, and with easy access to Highway 101, this property combines location, condition, and income potential making it an attractive addition to any investment portfolio.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$108,150
|
$22.16
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$108,150
|
$22.16
|
| Taxes |
$8,816
|
$1.81
|
| Operating Expenses |
$51,675
|
$10.59
|
| Total Expenses |
$60,491
|
$12.40
|
| Net Operating Income |
$47,659
|
$9.77
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $108,150 |
| Annual Per SF | $22.16 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $108,150 |
| Annual Per SF | $22.16 |
| Taxes | |
|---|---|
| Annual | $8,816 |
| Annual Per SF | $1.81 |
| Operating Expenses | |
|---|---|
| Annual | $51,675 |
| Annual Per SF | $10.59 |
| Total Expenses | |
|---|---|
| Annual | $60,491 |
| Annual Per SF | $12.40 |
| Net Operating Income | |
|---|---|
| Annual | $47,659 |
| Annual Per SF | $9.77 |
Property Facts
| Price | $1,695,000 | Apartment Style | Low-Rise |
| Price Per Unit | $282,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 3% | Building Size | 4,880 SF |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2002 |
| Property Subtype | Apartment | Parking Ratio | 0.67/1,000 SF |
| Zoning | R3PD - Multi-Family Residential District (R3) combined with a Planned Development (PD) overlay, designed for high-density, multi-family, developments. | ||
| Price | $1,695,000 |
| Price Per Unit | $282,500 |
| Sale Type | Investment |
| Cap Rate | 3% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 4,880 SF |
| No. Stories | 2 |
| Year Built | 2002 |
| Parking Ratio | 0.67/1,000 SF |
| Zoning | R3PD - Multi-Family Residential District (R3) combined with a Planned Development (PD) overlay, designed for high-density, multi-family, developments. |
Amenities
Unit Amenities
- Balcony
- Dishwasher
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | $1,700 | - |
| 2+2 | 4 | $1,600 | - |
1 1
Walk Score®
Very Walkable (70)
Property Taxes
| Parcel Number | 041-230-013 | Total Assessment | $769,392 |
| Land Assessment | $196,605 | Annual Taxes | $8,816 ($1.81/SF) |
| Improvements Assessment | $572,787 | Tax Year | 2025 |
Property Taxes
Parcel Number
041-230-013
Land Assessment
$196,605
Improvements Assessment
$572,787
Total Assessment
$769,392
Annual Taxes
$8,816 ($1.81/SF)
Tax Year
2025
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Six Unit Income Property with Rent Upside | 2131 Naomi Pl
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