714 College Avenue & 713 Cherry Street 2 Multifamily Properties Offered at $2,200,000 in Santa Rosa, CA

Keegan & Coppin Company, Inc. is pleased to offer for sale a 12-unit multi-family investment located at 714 College Avenue and 713 Cherry Street in Santa Rosa, California. Totaling approximately 7,200± square feet across two contiguous parcels, the properties are fully leased and professionally managed, providing in-place cash flow with clear opportunities for operational improvement and income growth. The offering is priced at $2,200,000, or approximately $305.56 per square foot and $183,333 per unit.
Located just north of downtown and steps from Santa Rosa Junior College, the buildings sit in one of the city's most consistently occupied rental corridors. The unit mix includes 10 one-bedroom units and 2 two-bedroom units. 714 College Avenue offers four private garages, and 713 Cherry Street provides three covered parking spaces, a rare feature in this neighborhood. All units are individually metered for gas and electricity and share an on-site laundry room.
With a current Net Operating Income of $110,168 and a 5.01% cap rate, this offering represents a strong blend of stability and upside. Expenses including property management, maintenance, and utilities offer potential for cost reduction. In addition, rents remain below market, presenting a compelling value-add opportunity through unit updates and repositioning.