10-Unit Courtyard Apartment
New
For Sale
$2,945,000
4015 Hoen Ave, Santa Rosa, CA 95405
Four residential buildings surround a shared courtyard, with on-site laundry and a mix of one- and two-bedroom homes.
Property Size7,278 SF
Price / SF$404.64
Days on Market4
Property Features for 4015 Hoen Ave
General Information
Standard status
Active
Size
7,278 SF
Total Parking Spaces
12
Property subtype
5 or More Units
Site & Location
Neighborhood
Yulupa - Hoen Apartments
Highway Access
Yes
Units
Unit Mix
5 x 2BR/1BA, 5 x 1BR/1BA
Multifamily Units
10
Amenities
on-site laundry facility
dual-pane windows
Building Details
Year Built
1969
Buildings
4
Listing Agency:
Berkshire Hathaway
Listed By:
Steven Level · License #01184232
(415) 747-2150
Source:
Sonomacountycahomes
Added: Oct 30
Changed: Oct 31
Last Checked: Oct 30 at 9:19AM
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 Berkshire Hathaway
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Investment Insights
Based on property information with market context.
This 10-unit apartment property at 4015 Hoen Avenue comprises four residential buildings arranged around a central courtyard. The unit mix includes five one-bedroom, one-bath units and five two-bedroom, one-bath units. Built in 1969, the property also has an on-site laundry facility, six garages, six covered parking spaces, and dual-pane windows throughout. Heating is provided by forced-air systems in two units and wall furnaces in the others; all units have through-wall air conditioning.
The property is in Santa Rosa’s Bennett Valley neighborhood, with Howarth Park, Spring Lake Regional Park, and Mayette Village Shopping Center nearby. Whole Foods Market is an anchor at the shopping center. Highway 101 provides access to the area’s major employment corridors.
The property is in Santa Rosa’s Bennett Valley neighborhood, with Howarth Park, Spring Lake Regional Park, and Mayette Village Shopping Center nearby. Whole Foods Market is an anchor at the shopping center. Highway 101 provides access to the area’s major employment corridors.
Key Highlights
- 10 apartments across four residential buildings
- Five 1‑bedroom, 1‑bath units and five 2‑bedroom, 1‑bath units
- Six garages and six covered parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$127,127
Cap Rate
4.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,542,540
$2.5M
Cap Rate 7%
$1,816,100
$1.8M
Cap Rate 9%
$1,412,522
$1.4M
Market Conditions
NOI Build-Up for 7,278 SF
Gross rent
$242.8K $33.36/SF
− Vacancy
−$11.7K −$1.60/SF
EGI
$231.1K $31.76/SF
− OpEx
−$104.0K −$14.29/SF
NOI
$127.1K $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 Rate 5%
$2,542,540
Cap Rate 7%
$1,816,100
Cap Rate 9%
$1,412,522
Alternative Uses
Best Use
Apartment 5plus
$1.82M
$1.59M – $2.12M
NOI $127,127 @ 7.0% cap · market cap 4.32%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.02M
$1.77M – $2.36M
NOI $141,543 @ 7.0% cap · market cap 4.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
10
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
566
Businesses Nearby
Explore this area
Business Placement
Demographics for 95405, CA
22,015
Population
9,664
Households
2.3
Avg Household Size
45
Median Age
47%
College-Educated
94%
High-School Grad
5.0 sq mi
ZIP Area
4,403
Density / Sq Mi
$117,931
Median Household Income
$60,009
Median Earnings
$2,315
Median Rent
$749,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Four residential buildings surround a shared courtyard, with on-site laundry and a mix of one- and two-bedroom homes.
Where is this apartment building located?
The property is located at 4015 Hoen Ave Santa Rosa, CA.
What is the asking price?
The asking price for this property is $2,945,000.
What are key features of this property?
This property features: 10 apartments across four residential buildings; Five 1‑bedroom, 1‑bath units and five 2‑bedroom, 1‑bath units; Six garages and six covered parking spaces
