The Farmers Lane Apartments consist of one (1) 2-story building with (9) - 1bedroom, 1 full bath units and (1) - 2bedroom, 1 full bath unit located in a stable high demand rental area. Built in 1956, the property features and offers residents the benefits of 2-story construction. Unit sizes range in size from 460± sf to 560± sf with a kitchen, living room, full bathroom and bedroom. There is also a 100± sf laundry room and a 12' x 20' enclosed garage on-site. The building has a flat composition roof, four (4) covered and six (6) uncovered parking spaces on site. Each unit has a gas wall heater and is separately metered for gas & electric. Rent includes water and garbage, and all units have smoke detectors.
PLEASE NOTE: Buyer to verify building square footage prior to close of escrow. 2.52% Cap Rate on Actual Income and 5.73% Proforma Cap Rate.
Prime location in East Santa Rosa on Farmers Lane across the street from St. Eugene' s Cathedral, St. Eugene' s School and Montgomery Village Shopping Center. Shopping Center tenants include: Ross Dress for Less, Lucky Supermarket, Acre Coffee, Boudin Bakery, Cattlemens Restaurant, Sea Thai Bistro, Sonoma Outfitters, Sur La Table, Urban Garden, Fiori' s Grill, Starlet Bridal & Prom, Copperfield' s Books, Talbots, Classic Duck, See' s Candies, Patrick James, J. Jill, Sole Desire Shoes, White House/Black Market, Bank of America, Chase Bank, Monti' s Rotisserie & Bar, Round Table Pizza, Cold Stone Creamery, Subway, Michelle Marie' s Patisserie, Chico' s, Kaleidoscope Toys, Tomatina, Village Art, Sincerely Yours, Penzeys Spices, Provisions Men Shop, and many more. Easy access to services and shopping, Downtown Santa Rosa and Memorial Hospital.
