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3320 Mendocino Ave 6 Unit Apartment Building $2,375,000 ($395,833/Unit) 5.66% Cap Rate Santa Rosa, CA 95403
INVESTMENT HIGHLIGHTS
- High-Visibility Mendocino Avenue Frontage
- 2,100± sf Freestanding Commercial Building
- Established Tenant and Long-Term Upside
- Six (6) Upgraded Residential Units
- Zoned for Mixed-Use or Multi-Family Development
EXECUTIVE SUMMARY
3320 Mendocino Avenue is a fully leased income property featuring six upgraded residential units (two attached single-family homes and four townhouses) plus a 2,100+/- SF freestanding commercial building occupied by the Wagon Wheel Bar, a Santa Rosa staple since the 1940s.
Situated on approximately one acre with Office (O) zoning, the site offers flexible options for redevelopment, including mixed-use or higher-density multifamily. The residential units have been substantially updated with new flooring, appliances, fixtures, and systems, making them easy to lease and manage.
A prime value-add opportunity exists for an owner-user to renovate and activate the bar space as a restaurant or taproom, or for a developer to pursue additional residential units. The bar tenant is currently on a month-to-month lease, offering flexibility for repositioning.
The property also features ample off-street parking, a landlord-owned coin laundry for added income, and strong in-place cash flow with potential for expansion or owner occupancy of the commercial space.
Situated on approximately one acre with Office (O) zoning, the site offers flexible options for redevelopment, including mixed-use or higher-density multifamily. The residential units have been substantially updated with new flooring, appliances, fixtures, and systems, making them easy to lease and manage.
A prime value-add opportunity exists for an owner-user to renovate and activate the bar space as a restaurant or taproom, or for a developer to pursue additional residential units. The bar tenant is currently on a month-to-month lease, offering flexibility for repositioning.
The property also features ample off-street parking, a landlord-owned coin laundry for added income, and strong in-place cash flow with potential for expansion or owner occupancy of the commercial space.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$197,700
|
$24.71
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$197,700
|
$24.71
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$63,186
|
$7.90
|
| Net Operating Income |
$134,514
|
$16.81
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $197,700 |
| Annual Per SF | $24.71 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $197,700 |
| Annual Per SF | $24.71 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $63,186 |
| Annual Per SF | $7.90 |
| Net Operating Income | |
|---|---|
| Annual | $134,514 |
| Annual Per SF | $16.81 |
PROPERTY FACTS
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 2 | - | - |
| 2+1.5 | 4 | - | - |
PROPERTY TAXES
| Parcel Number | 173-060-013 | Improvements Assessment | $1,716,660 (2024) |
| Land Assessment | $728,280 (2024) | Total Assessment | $2,444,940 (2024) |
PROPERTY TAXES
Parcel Number
173-060-013
Land Assessment
$728,280 (2024)
Improvements Assessment
$1,716,660 (2024)
Total Assessment
$2,444,940 (2024)
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3320 Mendocino Ave
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