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3000 Cleveland Ave 14 Unit Apartment Building $1,450,000 ($103,571/Unit) Santa Rosa, CA 95403
Investment Highlights
- Office to Multifamily Conversion
- Seller Financing Available
- IRR 25%
- Value Add Opportunity
- Potential 14 Unit Multifamily Property
Executive Summary
3000 Cleveland Ave, Santa Rosa, CA offers investors a rare opportunity to acquire a centrally located property with immediate income and significant long-term upside through a residential conversion.
Situated in one of Santa Rosa’s most active mixed-use corridors, this well-located office asset is positioned for transformation into a 14-unit multifamily apartment building, with plans already submitted for City Planning review. The project includes 13 one-bedroom units and 1 studio, targeting Santa Rosa’s strong rental demand.
The property currently generates income from short-term and month-to-month office tenants, offering cash flow during the entitlement and pre-construction phases. The City of Santa Rosa is known for its pro-housing stance, and the underlying zoning supports multifamily use, making this an ideal repositioning play in a housing-constrained market.
Situated in one of Santa Rosa’s most active mixed-use corridors, this well-located office asset is positioned for transformation into a 14-unit multifamily apartment building, with plans already submitted for City Planning review. The project includes 13 one-bedroom units and 1 studio, targeting Santa Rosa’s strong rental demand.
The property currently generates income from short-term and month-to-month office tenants, offering cash flow during the entitlement and pre-construction phases. The City of Santa Rosa is known for its pro-housing stance, and the underlying zoning supports multifamily use, making this an ideal repositioning play in a housing-constrained market.
Financial Summary (Pro Forma - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,450,000 | Building Class | B |
| Price Per Unit | $103,571 | Construction Status | Proposed |
| Sale Type | Investment | Building Size | 6,061 SF |
| No. Units | 14 | Average Occupancy | 2% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Parking Ratio | 2.31/1,000 SF |
| Apartment Style | Mid-Rise |
| Price | $1,450,000 |
| Price Per Unit | $103,571 |
| Sale Type | Investment |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Construction Status | Proposed |
| Building Size | 6,061 SF |
| Average Occupancy | 2% |
| No. Stories | 2 |
| Parking Ratio | 2.31/1,000 SF |
Amenities
Site Amenities
- Smoke Free
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 14 | $1,650 | 350 - 450 |
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Property Taxes
| Parcel Number | 015-491-023 | Total Assessment | $693,455 |
| Land Assessment | $225,367 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $468,088 | Tax Year | 2025 |
Property Taxes
Parcel Number
015-491-023
Land Assessment
$225,367
Improvements Assessment
$468,088
Total Assessment
$693,455
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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3000 Cleveland Ave
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