Quadplex With Covered
New
For Sale
$1,000,000
422 Klute St, Santa Rosa, CA 95401
Four-unit property with coin laundry, storage areas, and separate electric and gas metering.
Property Size2,912 SF
Days on Market3
Property Features for 422 Klute St
General Information
Standard status
Active
Size
2,912 SF
Total Parking Spaces
7
Property subtype
Investment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
3 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
4
Amenities
coin laundry room
storage closets
Building Details
Building Size
2,912 SF
Year Built
1964
Stories
2
Units
4
Listing Agency:
(707) 888-2363
Listed By:
David Harrell
(707) 888-2363
Source:
Elliman
Added: Aug 12
Changed: Aug 13
Last Checked: Aug 13 at 5:06AM
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 David Harrell
Investment Insights
Based on property information with market context.
This quadplex contains three two-bedroom, one-bath units and one one-bedroom, one-bath unit. Interior features include LVP flooring across most living areas, refrigerators in the kitchens, and dual-pane windows. Two residences have freshly painted interiors. The property also includes covered parking for four vehicles, three additional uncovered spaces, and a storage closet assigned to each unit within the carports.
An attached coin-operated laundry room supports the four residences, while two larger storage closets provide additional owner storage. Independent electric water heaters and separate electric and gas meters serve the units. Built in 1964, the property is located in the St. Rose Historical district at 422 Klute St in Santa Rosa, near downtown shopping, restaurants, and daily services, with access to Hwy 101. WalkScore is 99, BikeScore is 80, and TransitScore is 50.
An attached coin-operated laundry room supports the four residences, while two larger storage closets provide additional owner storage. Independent electric water heaters and separate electric and gas meters serve the units. Built in 1964, the property is located in the St. Rose Historical district at 422 Klute St in Santa Rosa, near downtown shopping, restaurants, and daily services, with access to Hwy 101. WalkScore is 99, BikeScore is 80, and TransitScore is 50.
Key Highlights
- Three 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit
- Covered parking for 4 vehicles plus 3 uncovered spaces
- Attached coin laundry room and two large owners storage closets
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
$56,633
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
5.66%
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%
$1,132,660
$1.1M
Cap Rate 7%
$809,043
$809.0K
Cap Rate 9%
$629,256
$629.3K
Market Conditions
NOI Build-Up for 2,912 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
$85.6K $29.40/SF
− Vacancy
−$4.7K −$1.62/SF
EGI
$80.9K $27.78/SF
− OpEx
−$24.3K −$8.33/SF
NOI
$56.6K $19.45/SF
Area
Santa Rosa, CA
Vacancy
5.50%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
30.00%
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%
$1,132,660
Cap Rate 7%
$809,043
Cap Rate 9%
$629,256
Alternative Uses
Best Use
Multifamily LT 5
$809.0K
$707.9K – $943.9K
NOI $56,633 @ 7.0% cap · market cap 5.66%
Second Best
Apartment 5plus
$726.6K
$635.8K – $847.8K
NOI $50,865 @ 7.0% cap · market cap 5.09%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,725
Businesses Nearby
Explore this area
Business Placement
Demographics for 95401, CA
37,272
Population
14,281
Households
2.6
Avg Household Size
38
Median Age
28%
College-Educated
80%
High-School Grad
20.9 sq mi
ZIP Area
1,783
Density / Sq Mi
$93,513
Median Household Income
$45,630
Median Earnings
$1,978
Median Rent
$628,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property with coin laundry, storage areas, and separate electric and gas metering.
Where is this quadplex located?
The property is located at 422 Klute St Santa Rosa, CA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Three 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit; Covered parking for 4 vehicles plus 3 uncovered spaces; Attached coin laundry room and two large owners storage closets
