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Ludwig Apartments 429 8th St 7 Unit Apartment Building $1,675,000 ($239,286/Unit) 5.74% Cap Rate Santa Rosa, CA 95401
Investment Highlights
- Well-maintained seven-unit apartment property
- Units are served by in-unit washer and dryer
- Features eight on-site parking spaces
- Located in the heart of downtown Santa Rosa
- Building is fire sprinklered
- Features a 2018 composite shingle roof
Executive Summary
Ludwig Apartments delivers stabilized cash flow with defined near-term upside, offering a 5.74% cap rate on in-place income with increases already allowable under statewide rent control.
Property Facts
| Price | $1,675,000 | Apartment Style | Low-Rise |
| Price Per Unit | $239,286 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.28 AC |
| Cap Rate | 5.74% | Building Size | 9,450 SF |
| Gross Rent Multiplier | 12.2 | No. Stories | 3 |
| No. Units | 7 | Year Built | 1983 |
| Property Type | Multifamily | Parking Ratio | 1.14/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R-3-18 | ||
| Price | $1,675,000 |
| Price Per Unit | $239,286 |
| Sale Type | Investment |
| Cap Rate | 5.74% |
| Gross Rent Multiplier | 12.2 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.28 AC |
| Building Size | 9,450 SF |
| No. Stories | 3 |
| Year Built | 1983 |
| Parking Ratio | 1.14/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R-3-18 |
Amenities
Site Amenities
- Laundry Facilities
- Tenant Controlled HVAC
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | 280 - 660 |
| 2+1 | 3 | - | 810 |
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Moderately walkable
70/100
Very drivable
80/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 010-032-015 | Improvements Assessment | $1,508,813 |
| Land Assessment | $378,539 | Total Assessment | $1,887,352 |
Property Taxes
Parcel Number
010-032-015
Land Assessment
$378,539
Improvements Assessment
$1,508,813
Total Assessment
$1,887,352
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