Renovated Two-Unit
For Sale
Under Contract
$850,000
1821-1825 Mission Boulevard, Santa Rosa, CA 95409
Residential Income, Santa Rosa, CA
Property Size2,100 SF
Lot Size0.14 Acres
Price / SF$404.76
Days on Market25
Property Features for 1821-1825 Mission Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 2, Bathroom 3, Bedroom 5, Bedroom 2, Bathroom 1, Bedroom 4, Bedroom 3
Parking
5
Parking features
Garage, Guest, Covered
Patio and Porch features
Patio
Exterior features
Private Yard, Yard Space
Fireplace
1
Appliances
Dishwasher, Free-Standing Electric Range, Gas Water Heater
Lot features
Curb(s), Sidewalk
View
City
Directions
If heading east on highway 12 turn left onto Mission Blvd. Property will be about 1/4 mile down on the left. Can pull into driveway or park on street.
Subdivision
Santa Rosa-Northeast
Standard status
Active Under Contract
APN
182310011000
Size
2,100 SF
Lot size
0.14 Acres
Utilities
Sewer type
Public Sewer
Heating system
Fireplace(s), Central
Water source
Public
Amenities
in-unit laundry
private outdoor spaces
partially fenced yards
Building Details
Year built
1980
Floors in Building
1
Number of units
2
Building materials
Wood, Wood Siding
Roof type
Composition
Listing Agency:
Luxe Places International Realty
(707) 544-6000
Listed By:
Sonjia K Spector
(707) 738-3557
Added: Jul 31
Changed: Aug 19
Last Checked: Aug 24 at 5:06AM
MLS# 326057772
Copyright © 2026 Bay Area Real Estate Information Services, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This vacant duplex contains 2,100 square feet on a 6,000-square-foot lot, with two updated residences ready for occupancy. The larger unit includes 3 bedrooms, 2 bathrooms, and an attached 2-car garage; the second offers 2 bedrooms, 1 bathroom, and an attached 1-car garage. Both units feature fresh interior and exterior paint, luxury vinyl plank flooring, modern finishes, in-unit laundry, private outdoor areas, and partially fenced yards. Additional features include patios, private driveways, guest parking, fireplaces, central heating, dishwashers, free-standing electric ranges, gas water heaters, a composition roof, public water, and public sewer. The property was built in 1980 and uses wood construction with wood siding.
Located at 1821-1825 Mission Boulevard in Santa Rosa, the property is within the Rincon Valley school district and a short walk from Oliver's Market, shopping, restaurants, cafés, and everyday services. Its two attached garages and separate living spaces support flexible occupancy arrangements.
Located at 1821-1825 Mission Boulevard in Santa Rosa, the property is within the Rincon Valley school district and a short walk from Oliver's Market, shopping, restaurants, cafés, and everyday services. Its two attached garages and separate living spaces support flexible occupancy arrangements.
Key Highlights
- Two‑unit duplex with 2,100 square feet on a 6,000‑square‑foot lot
- Larger unit offers 3 bedrooms, 2 bathrooms, and an attached 2‑car garage
- Second unit includes 2 bedrooms, 1 bathroom, and an attached 1‑car garage
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
$40,841
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
4.80%
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%
$816,820
$816.8K
Cap Rate 7%
$583,443
$583.4K
Cap Rate 9%
$453,789
$453.8K
Market Conditions
NOI Build-Up for 2,100 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
$61.7K $29.40/SF
− Vacancy
−$3.4K −$1.62/SF
EGI
$58.3K $27.78/SF
− OpEx
−$17.5K −$8.33/SF
NOI
$40.8K $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%
$816,820
Cap Rate 7%
$583,443
Cap Rate 9%
$453,789
Alternative Uses
Best Use
Multifamily LT 5
$583.4K
$510.5K – $680.7K
NOI $40,841 @ 7.0% cap · market cap 4.80%
Second Best
Apartment 5plus
$524.0K
$458.5K – $611.4K
NOI $36,681 @ 7.0% cap · market cap 4.32%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
377
Businesses Nearby
Explore this area
Business Placement
Demographics for 95409, CA
27,741
Population
12,499
Households
2.2
Avg Household Size
53
Median Age
50%
College-Educated
95%
High-School Grad
35.0 sq mi
ZIP Area
793
Density / Sq Mi
$105,736
Median Household Income
$59,003
Median Earnings
$2,346
Median Rent
$807,800
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?
Duplex - Two residences offer separate garages, outdoor areas, laundry, and updated interiors for immediate occupancy.
Where is this duplex located?
The property is located at 1821-1825 Mission Boulevard Santa Rosa, CA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,100 square feet on a 6,000‑square‑foot lot; Larger unit offers 3 bedrooms, 2 bathrooms, and an attached 2‑car garage; Second unit includes 2 bedrooms, 1 bathroom, and an attached 1‑car garage
