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Listed by John W Garrett • Marcus & Millichap Real Estate Investment Services, Inc.
$ 5,000,000
Est. payment | /mo
1,200 Beds
2 Baths
0.54 Acres Lot
$ 5,000,000
Est. payment | /mo
1,200 Beds
2 Baths
0.54 Acres Lot
OPEN HOUSE
Thu Aug 14, 11:00am - 12:30pm
Key Details
Property Type Multi-Family
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID 325073085
Bedrooms 1200
HOA Y/N No
Year Built 1962
Lot Size 0.538 Acres
Property Sub-Type 5 or More Units
Property Description
The Villa is an 18-unit multifamily property offering strong fundamentals, immediate value-add potential, and a desirable, amenity rich location. Built in 1962, the property consists of 12 two-bedroom, one-bath units and 6 one-bedroom, one-bath units, arranged around a landscaped central garden with a lawn that provides tenants with a quiet, residential atmosphere. Each building has undergone significant capital improvements, including permitted electrical subpanel replacements in all units, a new main electrical service in one building, and rebuilt exterior staircases and decks, providing long-term durability and reducing future deferred maintenance. The site offers covered parking for all 18 units, additional street parking, and on-site coin-operated laundry for tenant convenience. Just blocks from the property are Whole Foods, Petaluma's SMART Train station, public schools, parks, the public library, and a variety of local dining and retail options. In addition, residents are less than a half mile from a Grocery Outlet-anchored shopping center, and 3/4 mile from a Target shopping center. The Villa offers investors a rare opportunity to acquire a stabilized, well-maintained asset with strong fundamentals and future upside in one of Sonoma County's most desirable submarkets.
Location
State CA
County Sonoma
Area Petaluma West
Interior
Heating Wall Furnace
Cooling Ceiling Fan(s)
Exterior
Parking Features Carport
Garage Spaces 18.0
Building
Sewer Public Sewer
Water Public
Others
Special Listing Condition None
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