Trellis Apartments | 921-923 Ripley St
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Trellis Apartments 921-923 Ripley St
7 Unit Block of Flats £1,992,225 (£284,604/Unit) 5.70% Net Initial Yield Santa Rosa, CA 95401
Investment Highlights
- Turn-Key Property
- 5.70% Cap Rate
- Fully Remodeled Interiors
- Exceptional Cash Flow
- 12.30 GRM
- W/D In Each Unit
Executive Summary
Trellis Apartments is a turn-key apartment complex in the Railroad Square neighborhood of Santa Rosa, CA. Generating exceptional cash flow from the strong in place rents, this 7-unit property features a unique and highly desirable unit mix of two 3-bedroom, 2-bath houses and five 2-bedroom, 1-bath townhouse-style units.
All units have full interior remodels including updated kitchens, bathrooms, flooring and fixtures. Each unit features in-unit laundry, central heat and AC, fenced yards or patios, dual-pane windows throughout, individual water heaters, and separate meters for gas and electric. All the remodels and upgrades were completed within the last 5 years and the property has been very well maintained.
The Trellis Apartments are located just minutes away from the various shopping, amenities and public transportation options available in Downtown Santa Rosa. With easy access to Hwy-101, the property is located approximately 50 miles north of San Francisco, 30 miles west of Sonoma and 20 miles east of Bodega Bay.
With fully remodeled interiors and an updated exterior, Trellis Apartments provides an excellent investment opportunity for a fully stabilized asset with historically low vacancy in desirable Sonoma County.
All units have full interior remodels including updated kitchens, bathrooms, flooring and fixtures. Each unit features in-unit laundry, central heat and AC, fenced yards or patios, dual-pane windows throughout, individual water heaters, and separate meters for gas and electric. All the remodels and upgrades were completed within the last 5 years and the property has been very well maintained.
The Trellis Apartments are located just minutes away from the various shopping, amenities and public transportation options available in Downtown Santa Rosa. With easy access to Hwy-101, the property is located approximately 50 miles north of San Francisco, 30 miles west of Sonoma and 20 miles east of Bodega Bay.
With fully remodeled interiors and an updated exterior, Trellis Apartments provides an excellent investment opportunity for a fully stabilized asset with historically low vacancy in desirable Sonoma County.
Property Facts
| Price | £1,992,225 | Apartment Style | Low Rise |
| Price Per Unit | £284,604 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.30 AC |
| Net Initial Yield | 5.70% | Building Size | 5,996 SF |
| Gross Rent Multiplier | 12.3 | Average Occupancy | 100% |
| No. Units | 7 | Number of Floors | 2 |
| Property Type | Residential | Year Built | 1978 |
| Property Subtype | Apartment | Parking Ratio | 1.17/1,000 SF |
| Price | £1,992,225 |
| Price Per Unit | £284,604 |
| Sale Type | Investment |
| Net Initial Yield | 5.70% |
| Gross Rent Multiplier | 12.3 |
| No. Units | 7 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 5,996 SF |
| Average Occupancy | 100% |
| Number of Floors | 2 |
| Year Built | 1978 |
| Parking Ratio | 1.17/1,000 SF |
Unit Amenities
- Air Conditioning
- Washer/Dryer
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | 825 |
| 3+2 | 3 | - | 935 |
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Walk Score ®
Very Walkable (87)
PROPERTY TAXES
| Parcel Number | 010-124-012 | Improvements Assessment | £1,704,420 |
| Land Assessment | £426,855 | Total Assessment | £2,131,275 |
PROPERTY TAXES
Parcel Number
010-124-012
Land Assessment
£426,855
Improvements Assessment
£1,704,420
Total Assessment
£2,131,275
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Trellis Apartments | 921-923 Ripley St
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