Two-Level Fourplex with
For Sale
$1,199,000
2313 Heidi Pl, Santa Rosa, CA 95403
Fully occupied multifamily property with shared laundry and a separate storage room for landlord use.
Property Size3,266 SF
Price / SF$367.12
Days on Market112
Property Features for 2313 Heidi Pl
General Information
Standard status
Active
Size
3,266 SF
Property subtype
Residential Income
Occupancy
100%
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Amenities
coin-operated laundry room
Building Details
Buildings
1
Stories
2
Listing Agency:
Compass
(707) 547-3800
Listed By:
Christopher D. Asimos · License #02042099
Source:
Exprealty
Added: Apr 22
Changed: Aug 11
Last Checked: Aug 11 at 7:14AM
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 Compass
Investment Insights
Based on property information with market context.
This two-story fourplex contains 3,266 square feet and is configured as four two-bedroom, one-bathroom residences. The units are fully occupied and currently retain their original, non-updated interiors, while the building includes a shared coin-operated laundry room on the ground level and a dedicated landlord storage room.
The property is located at 2313 Heidi Pl in Santa Rosa, approximately two minutes from Coddingtown Mall, Whole Foods, and Target. Highway 101 and the SMART train station are also nearby, providing access to regional road and rail transportation. The combination of four residential units, existing occupancy, and shared support areas creates a straightforward multifamily configuration for continued rental operation.
The property is located at 2313 Heidi Pl in Santa Rosa, approximately two minutes from Coddingtown Mall, Whole Foods, and Target. Highway 101 and the SMART train station are also nearby, providing access to regional road and rail transportation. The combination of four residential units, existing occupancy, and shared support areas creates a straightforward multifamily configuration for continued rental operation.
Key Highlights
- Four‑unit building with four 2‑bedroom, 1‑bathroom residences
- 3,266 square feet arranged across two levels
- Fully occupied multifamily property
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
$63,517
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
5.30%
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%
$1,270,340
$1.3M
Cap Rate 7%
$907,386
$907.4K
Cap Rate 9%
$705,744
$705.7K
Market Conditions
NOI Build-Up for 3,266 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
$96.0K $29.40/SF
− Vacancy
−$5.3K −$1.62/SF
EGI
$90.7K $27.78/SF
− OpEx
−$27.2K −$8.33/SF
NOI
$63.5K $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%
$1,270,340
Cap Rate 7%
$907,386
Cap Rate 9%
$705,744
Alternative Uses
Best Use
Multifamily LT 5
$907.4K
$794.0K – $1.06M
NOI $63,517 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$815.0K
$713.1K – $950.8K
NOI $57,048 @ 7.0% cap · market cap 4.76%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,053
Businesses Nearby
Explore this area
Business Placement
Demographics for 95403, CA
44,705
Population
17,504
Households
2.6
Avg Household Size
39
Median Age
27%
College-Educated
87%
High-School Grad
21.5 sq mi
ZIP Area
2,079
Density / Sq Mi
$94,480
Median Household Income
$45,928
Median Earnings
$2,215
Median Rent
$651,900
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 - Fully occupied multifamily property with shared laundry and a separate storage room for landlord use.
Where is this quadplex located?
The property is located at 2313 Heidi Pl Santa Rosa, CA.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Four‑unit building with four 2‑bedroom, 1‑bathroom residences; 3,266 square feet arranged across two levels; Fully occupied multifamily property
