Well-Maintained Fourplex with Covered
For Sale
$1,245,000
406 Klute St, Santa Rosa, CA 95401
Four-unit mix with covered parking, private storage, and coin-operated laundry generating stated monthly gross rental income.
Property Size2,912 SF
Days on Market53
Property Features for 406 Klute St
General Information
Standard status
Active
Size
2,912 SF
Total Parking Spaces
7
Property subtype
Investment
Additional Details
Business Included
Yes
Highway Access
Yes
Multifamily Units
4
Building Details
Building Size
2,912 SF
Year Built
1964
Units
4
Tenancy
Multi
Listing Agency:
(707) 508-6390
Listed By:
Isaiah Chass
(707) 508-6390
Source:
Elliman
Added: Jul 11
Changed: Aug 8
Last Checked: Aug 31 at 4:39PM
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 Isaiah Chass
Investment Insights
Based on property information with market context.
Welcome to 406 Klute St, a well-maintained fourplex offering an established rental unit mix of three 2-bedroom, 1-bathroom residences and one 1-bedroom, 1-bathroom residence. The property includes covered parking for four vehicles, three additional uncovered parking spaces, and private storage for each unit. Residents also have access to an on-site coin-operated laundry facility, adding convenience and an additional income stream.
Recent capital improvements include a new roof, new balconies, and updated staircases, supporting long-term durability and reducing near-term maintenance concerns. Low-maintenance landscaping is also in place to help support manageable operating expenses.
Convenient access to Highway 101 places the property just minutes from shopping and dining, downtown Santa Rosa, Santa Rosa Plaza, Coddingtown Shopping Center, Montgomery Village, Santa Rosa Junior College, and Santa Rosa High School.
Recent capital improvements include a new roof, new balconies, and updated staircases, supporting long-term durability and reducing near-term maintenance concerns. Low-maintenance landscaping is also in place to help support manageable operating expenses.
Convenient access to Highway 101 places the property just minutes from shopping and dining, downtown Santa Rosa, Santa Rosa Plaza, Coddingtown Shopping Center, Montgomery Village, Santa Rosa Junior College, and Santa Rosa High School.
Key Highlights
- Fourplex built in 1964 with a unit mix of three 2BD/1BA and one 1BD/1BA
- Stated gross rental income of $8,450 per month
- Parking includes covered spots for four vehicles, plus three additional uncovered parking spaces
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
4.55%
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 4.55%
Second Best
Apartment 5plus
$726.6K
$635.8K – $847.8K
NOI $50,865 @ 7.0% cap · market cap 4.09%
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
Multi-tenant
Tenancy
Turnkey business
Opportunity
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 mix with covered parking, private storage, and coin-operated laundry generating stated monthly gross rental income.
Where is this quadplex located?
The property is located at 406 Klute St Santa Rosa, CA.
What is the asking price?
The asking price for this property is $1,245,000.
What are key features of this property?
This property features: Fourplex built in 1964 with a unit mix of three 2BD/1BA and one 1BD/1BA; Stated gross rental income of $8,450 per month; Parking includes covered spots for four vehicles, plus three additional uncovered parking spaces
