INCOME PROPERTY FOR SALE
14 UNITS ON 4 PARCELS
COURTYARD COMPLEX 14 Units | 4 Parcels
140 Northside Ave, Sonoma, CA 95476
140NorthSide.com
TYPE: MULTI-UNIT ZONING: MULTIPLE LAND SIZE: 22,500 SF YEAR BUILT: 1921 ACTUAL CAP: 6.1% PROJECTED CAP: 7.2%
OFFERED ATÂ $2,900,000
DAVID AND ERIKA RENDINO, INCOME PROPERTY SPECIALISTS (707) 696-3742/(707) 318-1851 | DERENDINO@GMAIL.COM
RE/MAX MARKETPLACE IS PROUD TO PRESENT
FORMERLY KNOW AS THE SPRINGS RESORT, 140 NORTHSIDE AVENUE IS A WELL-LOCATED MULTI-UNIT COURTYARD STYLE COMPLEX IN A FANTASTIC LOCATION This 14-unit property consists of eight cottages, two duplexes and one fourplex. The unit mix includes two studios, six onebedrooms, five two-bedrooms and one three-bedroom. Twelve of the units feature private yards, and all residents can enjoy a large central common area. This offering is composed of 4 different parcels with their own APN numbers, which allows for loan flexibility for an investor or family compound. The units are separately metered for gas and electricity, and have separate water heaters. For the resident’s convenience, a coin-operated laundry room is located onsite. Built in the 1920s, its long term owners have kept the property well maintained. Easy to manage, this property is ideal for the investor, as well as owner/user, seeking upside potential or opportunities for multigenerational housing. 140 Northside Avenue is the combination of a reasonable price, solid unit mix and a desirable location. Priced at $2,900,000, this proverbial “Cash Cow” starts at a 7.5 CAP and offers tremendous income growth potential. The highly desirable location and setting, coupled with its quaint character and low maintenance, make this a compelling investment opportunity in one of the nation’s wealthiest and most highly constrained rental markets. Located in Boyes Hot Springs, a desirable redevelopment area, 140 Northside Avenue offers a rare chance to purchase in a coveted “Opportunity Zone.” Residents enjoy the vibrant neighborhood, with an array of restaurants, shopping, seasonal farmers markets and many recreation opportunities right at their doorstep. Walk to the world’s famous Fairmont Sonoma Mission Inn and Spa, and many other restaurants and local businesses. Located within a 10-minute drive to the Sonoma Plaza, the property is only 46 miles from San Francisco and 8.1 miles to the Sonoma Valley Airport.
DAVID AND ERIKA RENDINO, INCOME PROPERTY SPECIALISTS (707) 696-3742/(707) 318-1851 | DERENDINO@GMAIL.COM
INCOME & EXPENSE REPORT
RENT ROLL
PROPERTY PROFILE FOR PARCEL 056-371-003
DAVID AND ERIKA RENDINO, INCOME PROPERTY SPECIALISTS (707) 696-3742/(707) 318-1851 | DERENDINO@GMAIL.COM
PROPERTY PROFILE FOR PARCEL 053-371-008
DAVID AND ERIKA RENDINO, INCOME PROPERTY SPECIALISTS (707) 696-3742/(707) 318-1851 | DERENDINO@GMAIL.COM
PROPERTY PROFILE FOR PARCEL 056-371-007
DAVID AND ERIKA RENDINO, INCOME PROPERTY SPECIALISTS (707) 696-3742/(707) 318-1851 | DERENDINO@GMAIL.COM
PROPERTY PROFILE FOR PARCEL 056-371-002
DAVID AND ERIKA RENDINO, INCOME PROPERTY SPECIALISTS (707) 696-3742/(707) 318-1851 | DERENDINO@GMAIL.COM
COUNTY ASSESSOR'S PARCEL MAPS
158 Northside Avenue Sonoma, CA 95476
Buildings SF on tax records do not reflect actual SF. Buyer to independently verify.
140 Northside Avenue Sonoma, CA 95476
Buildings SF on tax records do not reflect actual SF. Buyer to independently verify.
149 Pine Avenue Sonoma, CA 95476
Buildings SF on tax records do not reflect actual SF. Buyer to independently verify.
157 Pine Avenue Sonoma, CA 95476
Buildings SF on tax records do not reflect actual SF. Buyer to independently verify.
DAVID AND ERIKA RENDINO, INCOME PROPERTY SPECIALISTS (707) 696-3742/(707) 318-1851 | DERENDINO@GMAIL.COM
PROPERTY COMPOSITION
AERIAL VIEW
COURTYARD
DAVID AND ERIKA RENDINO, INCOME PROPERTY SPECIALISTS (707) 696-3742/(707) 318-1851 | DERENDINO@GMAIL.COM
COURTYARD
COTTAGE EXAMPLES
DAVID AND ERIKA RENDINO, INCOME PROPERTY SPECIALISTS (707) 696-3742/(707) 318-1851 | DERENDINO@GMAIL.COM
DUPLEX
COTTAGES EXAMPLES
DAVID AND ERIKA RENDINO, INCOME PROPERTY SPECIALISTS (707) 696-3742/(707) 318-1851 | DERENDINO@GMAIL.COM
DAVID AND ERIKA RENDINO, INCOME PROPERTY SPECIALISTS (707) 696-3742/(707) 318-1851 | DERENDINO@GMAIL.COM
DAVID AND ERIKA RENDINO, INCOME PROPERTY SPECIALISTS (707) 696-3742/(707) 318-1851 | DERENDINO@GMAIL.COM
COMMUTER LOCATION - SONOMA
Sonoma Gold Club
6-Minute Drive
Hotel Fairmont
2-Minute Drive
Downtown Sonoma
9-Minute Drive
Sonoma Airport San Francisco Sonoma Valley's Top Rated Wineries
16-Minute Drive 1 Hour 08 Minute Drive Minutes Drive
OPPORTUNITY ZONE
Opportunity Zones are a new tool for community development. Established in the Tax Cuts and Jobs Act of 2017, Opportunity Zones provide tax incentives for investment in designated census tracts. California Opportunity Zones will support new investments in environmental justice, sustainability, climate change, and affordable housing. For more information visit https://opzones.ca.gov.
COMMUTER LOCATION - BAY AREA
DAVID AND ERIKA RENDINO, INCOME PROPERTY SPECIALISTS (707) 696-3742/(707) 318-1851 | DERENDINO@GMAIL.COM
COMMUNITY OVERVIEW - RENT COMPARABLES
COMMUNITY OVERVIEW - MULTI-FAMILY
COMMUNITY OVERVIEW - RENT
COMMUNITY OVERVIEW - VACANCY
COMMUNITY OVERVIEW - VACANCY
COMMUNITY HIGHLIGHT - CITY OF SONOMA
The city of Sonoma has a small-town atmosphere with a fun family friendly environment for everyone. Sonoma is the birthplace of California’s wine industry and is to this day one of the most visited destinations in the State. No place says Wine Country more than Sonoma, whose rich soils and old vines produce some of the finest vintages in the world. Sonoma is also the closest wine region to San Francisco, just 45 miles north of the Golden Gate Bridge. Nestled between the Sonoma and Mayacama Mountain ranges, the Sonoma Valley is home to picturesque wine castles, quaint farms and expansive park land. In the center of it all is the Sonoma Plaza, which is a National Historic Landmark and a local treasure. Sonoma is known for its many art galleries, tasting rooms and world-class dining. The city of Sonoma is a "Walker's Paradise" and has Walk Score of 91. Daily errands to not require a car. Sonoma Valley Unified School District offers grades K-12.
DAVID AND ERIKA RENDINO, INCOME PROPERTY SPECIALISTS (707) 696-3742/(707) 318-1851 | DERENDINO@GMAIL.COM
David & Erika Rendino INCOME PROPERTY SPECIALISTS DRE#01252035 | 01465104
DIRECT: 707.696.3742 ESPAÑOL: 707.318.1851 EMAIL: DRENDINO@MAC.COM
SonomaCountyIncomePropertyReport.com
Each office independently owned and operated. The information contained herein has been obtained through sources deemed reliable by RE/MAX Marketplace, but cannot be guaranteed for its accuracy. We recommend to the buyer that any information, which is of special interest, should be obtained through independent verification. ALL MEASUREMENTS ARE APPROXIMATE.