Village Court Apartments

Address
355 Farmers Lane
Santa Rosa, CA 95405
Call Listing Agent for Viewing


Marketing Package 

Summary
Price	$1,695,000
Down Payment	$600,000
Number of Units	26
Cost Per Unit	$65,192
Current GRM	8.05
Current CAP	6.71%
Approximate Age	1964
Approximate Net RSF	10,148
Cost Per Net RSF	$167.03
Proposed Financing
First Loan Amount	$1,095,000
Existing

• The subject property is a 26 unit garden style apartment complex located in Santa Rosa, CA. The property consists of 2-2 story buildings and 2-1 story buildings situated on a 22,940 square foot level site in the Santa Rosa area known as Montgomery Village.
  
  
• The floor plans include 18 studio apartments with original "Murphey Beds" and a built in chest of drawers in a central living room, separate kitchens and bathroom with ceramic tile enclosed shower stalls. In addition there are 4-Jr. 1 bedroom and 4-Standard 1 bedroom units.
  
  
• Priced at $65,195 per unit and $167.03 per sq. ft., the Village Court Apartments offer and investor excellent inherent value (far below replacement cost), "A" location and rental upside-due to longterm ownership. Starting cash flow of 5.69% will grow to 7.81 % as the demand for well located affordable units intensifies in this rental market that appears to be poised for growth based on NorCal's Spring 2010 rental survey of 10,990 units.