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SOLD 7/16/2021

2378 Heidi Place, Santa Rosa, CA 95403$1,425,000

--
bed
--
bath
4824
ft2
· 9749
ft2 lot
$290 / ft2

Listing provided courtesy of Listing Broker: John Garrett, Marcus & Millichap
Source BAREIS;
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2378 Heidi Place is comprised of (1) two-bedroom, one-and-one-half bath townhome unit, and (4) two-bedroom, one-bath unit apartments in a single building situated at the end of a cul-de-sac that is comprised entirely of small multifamily properties. The property is in a very convenient rental location in northwest Santa Rosa, walking distance to Coddingtown Mall, home of Whole Foods, Target, and many other brand name shopping, dining, and entertainment options. The Children's Museum of Sonoma County is around the corner, and access to Hwy 101 is less than one mile away. The property presents an excellent investment opportunity as it provides stable in place income at a going-in Cap Rate of 5.13% plus an estimated 9% upside in rents, which once captured should deliver the investor an estimated 5.68% Cap Rate. With a 40% down payment, and attractive market rate financing of 3.35% for a 5-year fixed loan, an investor could achieve an estimated 6.27% cash-on-cash return at market rents.

HOA

$—/month

On market

a month

Year built

1972

Property type

Residential Income

Parking

MLS

321042696

Price / Sq.Ft.

$290 / ft2

Status

Closed

Home details for 2378 Heidi Place

Interior Features & Layout
Appliances
•   
Laundry Appliances: Laundry Closet, Washer/Dryer Hookups
Rooms Info
•   
Total Levels: 2
Heating & Cooling
•   
Heating Details: Central, Varies by Unit
•   
Cooling Details: Varies by Unit
Property, Lot, Community & Exterior Features
Parking Info
•   
Parking Features: Covered
•   
Open Parking Spaces: 4
•   
Covered Spaces: 5
•   
Parking Total: 9
Community Info
•   
Number Buildings: 1
•   
Total Units: 5
Lot Info
•   
Lot Size Source: Assessor Auto-Fill
•   
Lot Description: Cul-De-Sac
•   
Lot Size Acres: 0.2238
•   
Lot Size Units: Acres
Property Type
•   
Mls Prop Type: Residential Income
•   
Type: Apartments
Building Info
•   
Sqft Source: Assessor Auto-Fill
•   
Year Built Source: Other
Utilities & Other Information
Water & Sewer Info
•   
Water Source: Public
•   
Sewer: Public Sewer
Utilities
•   
Separate Meters: Gas
Listing Details, Costs & Financing Information
Terms
•   
Possession: Close Of Escrow, Subject To Tenant Rights
Listing Info
•   
Property Disclaimer: Information has not been verified, is not guaranteed, and is subject to change. Copyright © 2021 Bay Area Real Estate Information Services, Inc. All rights reserved. Copyright 2021 Rapattoni Corporation. All rights reserved.
•   
On Market Date: 2021-05-19
•   
Status: Closed
•   
Special Listing Conditions: Offer As Is
•   
Mls Status: Closed
Rent
•   
2 Bedroom Rent Range: 1650-1995
Financial Info
•   
Buyer Financing: 1031 Exchng-Sbjct To
•   
Gross Rent Multiplier: 12.86
•   
Cap Rate: 5.13
•   
Gross Scheduled Income: 108840
Tax/Assessment Info
•   
Tax Year: 2020
•   
County Transfer Tax Rate: 0.00
•   
City Transfer Tax Rate: 0.00
•   
Taxes: 14667.48
Multi Unit Information
Unit 1 Information
•   
Unit 1 Bedrooms: 2
•   
Unit 1 Half Bathrooms: 1
•   
Unit 1 Sqft Source: Not Measured
•   
Unit 1 Rooms: 6
•   
Unit 1 Description: 2-Bdr / 1.5-Bath townhome unit with central HVAC.
•   
Unit 1 Full Bathrooms: 1
General Info
•   
No. Of 2 Bedrooms Occupied: 5
•   
No. Of 2 Bedrooms Units: 5
•   
2 Bedroom Annual Occupancy: 97
Unit 2 Information
•   
Unit 2 Sqft Source: Not Measured
•   
Unit 2 Rooms: 5
•   
Unit 2 Description: 2-Bdr / 1-Bath flat with wall heater.
•   
Unit 2 Full Bathrooms: 1
•   
Unit 2 Bedrooms: 2
Unit 3 Information
•   
Unit 3 Sqft Source: Not Measured
•   
Unit 3 Rooms: 5
•   
Unit 3 Description: 2-Bdr / 1-Bath flat with wall heater.
•   
Unit 3 Full Bathrooms: 1
•   
Unit 3 Bedrooms: 2
Unit 4 Information
•   
Unit 4 Sqft Source: Not Measured
•   
Unit 4 Rooms: 5
•   
Unit 4 Description: 2-Bdr / 1-Bath flat with wall heater.
•   
Unit 4 Full Bathrooms: 1
•   
Unit 4 Bedrooms: 2
School Neighborhood & Directions
Location
•   
Cross Street: W Steele Ln.
•   
Area: Santa Rosa-Northwest, B0100
•   
Zip Code +4: 2528
School Info
•   
Directions: West on W. Steele Ln., North on Heidi Pl.

Neighborhood snapshot

41
Properties for sale
34
Median days on market
$406.99
Median sold price/sqft
101.29%
Sold/List %
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Property History for 2378 Heidi Place

11/05/2021
11/05/2021
Public Record
sold
Public Record
$1,534,822
+7.71%
07/16/2021
07/16/2021
Public Record
sold
Public Record
$1,425,000
+1.79%
07/16/2021
07/16/2021
BAREIS #321042696
sold
BAREIS #321042696
$1,400,000
06/17/2021
06/17/2021
BAREIS #321042696
pending
BAREIS #321042696
$1,400,000
04/06/2021
04/06/2021
BAREIS #321042696
active
BAREIS #321042696
$1,400,000
+12.00%
See more property history

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