10-Unit Residential Income
For Sale
$2,995,000
980 Sunset Ave, Santa Rosa, CA 95407
Fully occupied 10-unit property with on-site laundry income and a mix of two- and three-bedroom apartments.
Property Size8,720 SF
Days on Market101
Property Features for 980 Sunset Ave
General Information
Standard status
Active
Size
8,720 SF
Property subtype
Investment
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
10
Building Details
Building Size
8,720 SF
Year Built
1963
Stories
2
Units
10
Listed By:
JJ Davis II
(415) 246-7622
Source:
Elliman
Added: Jun 14
Changed: Sep 20
Last Checked: Sep 22 at 3:58PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of JJ Davis II
Investment Insights
Based on property information with market context.
980 Sunset Avenue is a well-maintained, fully occupied 10-unit residential income building. The property consists of six three-bedroom, one-bath apartments and four two-bedroom, one-bath apartments, offering a mix of layouts for different household needs. Additional income is generated through owned laundry services on-site.
The building is located in Santa Rosa near schools, shops, and public transportation, supporting convenient day-to-day access for tenants. Walkability is described as car-dependent, while transit access is noted as some.
For buyers seeking a straightforward small multifamily asset, the current tenant occupancy and established unit mix provide an immediately operational structure. The presence of owned laundry services can support additional revenue within the property rather than relying solely on unit rents. This configuration may appeal to investors and operators looking for a managed rental building with diversified apartment sizes within the same community.
The building is located in Santa Rosa near schools, shops, and public transportation, supporting convenient day-to-day access for tenants. Walkability is described as car-dependent, while transit access is noted as some.
For buyers seeking a straightforward small multifamily asset, the current tenant occupancy and established unit mix provide an immediately operational structure. The presence of owned laundry services can support additional revenue within the property rather than relying solely on unit rents. This configuration may appeal to investors and operators looking for a managed rental building with diversified apartment sizes within the same community.
Key Highlights
- Fully occupied 10‑unit building built in 1963 in Santa Rosa
- Unit mix includes six 3‑bedroom, 1‑bath units and four 2‑bedroom, 1‑bath units
- Owned on‑site laundry provides additional income
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$152,315
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.09%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,046,300
$3.0M
Cap Rate 7%
$2,175,929
$2.2M
Cap Rate 9%
$1,692,389
$1.7M
Market Conditions
NOI Build-Up for 8,720 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$290.9K $33.36/SF
− Vacancy
−$14.0K −$1.60/SF
EGI
$276.9K $31.76/SF
− OpEx
−$124.6K −$14.29/SF
NOI
$152.3K $17.47/SF
Area
Santa Rosa, CA
Vacancy
4.80%
Lease Rate
$33.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,046,300
Cap Rate 7%
$2,175,929
Cap Rate 9%
$1,692,389
Alternative Uses
Best Use
Apartment 5plus
$2.18M
$1.90M – $2.54M
NOI $152,315 @ 7.0% cap · market cap 5.09%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.42M
$2.12M – $2.83M
NOI $169,587 @ 7.0% cap · market cap 5.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
10
Residential units
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
675
Businesses Nearby
Explore this area
Business Placement
Demographics for 95407, CA
42,504
Population
13,371
Households
3.2
Avg Household Size
34
Median Age
17%
College-Educated
73%
High-School Grad
21.6 sq mi
ZIP Area
1,968
Density / Sq Mi
$82,807
Median Household Income
$40,907
Median Earnings
$1,822
Median Rent
$603,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied 10-unit property with on-site laundry income and a mix of two- and three-bedroom apartments.
Where is this apartment building located?
The property is located at 980 Sunset Ave Santa Rosa, CA.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: Fully occupied 10‑unit building built in 1963 in Santa Rosa; Unit mix includes six 3‑bedroom, 1‑bath units and four 2‑bedroom, 1‑bath units; Owned on‑site laundry provides additional income
