Triplex with Private Yard
For Sale
$849,000
487 Hearn Ave, Santa Rosa, CA 95407
Three-unit triplex offers private fenced yards for both end units and covered plus uncovered parking.
Property Size1,989 SF
Price / SF$426.85
Days on Market420
Property Features for 487 Hearn Ave
General Information
Standard status
Active
Size
1,989 SF
Total Parking Spaces
6
Property subtype
Multi Family
Additional Details
Business Included
Yes
Fenced Yard
Yes
Multifamily Units
3
Building Details
Year Built
1973
Tenancy
Multi
Listing Agency:
United Brokers Real Estate
(510) 517-3015
Listed By:
An Chi Ly · License #01374021
(510) 517-3015
Source:
Exitrealty
Added: Jun 18, 2025
Changed: Aug 8
Last Checked: Aug 11 at 8:22AM
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 United Brokers Real Estate
Investment Insights
Based on property information with market context.
This triplex includes three residential units: one 3 bed/2 bath unit, one 2 bed/2 bath unit, and one 1 bed/1 bath unit. Both end units have private, fenced yards, providing outdoor space with a level of separation. Recent improvements listed include siding, a membrane roof, dual pane windows, and fencing. The property also features low-maintenance landscaping and a mix of parking options with three covered spaces and three uncovered spaces.
The units are set back down a private driveway in a quiet setting. The configuration supports a private-feeling layout for each household, highlighted by the end units’ yards and the property’s fenced surroundings.
For buyers looking to owner-occupy, the mix of unit sizes offers a practical option to live in one unit while renting the others. The listing also notes stable tenants for years, and buyers and brokers are asked not to disturb tenants, which can support a smoother transition for qualified parties.
The units are set back down a private driveway in a quiet setting. The configuration supports a private-feeling layout for each household, highlighted by the end units’ yards and the property’s fenced surroundings.
For buyers looking to owner-occupy, the mix of unit sizes offers a practical option to live in one unit while renting the others. The listing also notes stable tenants for years, and buyers and brokers are asked not to disturb tenants, which can support a smoother transition for qualified parties.
Key Highlights
- 1973‑built 3‑unit triplex with a 3 bed/2 bath, 2 bed/2 bath, and 1 bed/1 bath unit mix
- Both end units feature private fenced yards
- Covered and uncovered parking: 3 covered spaces and 3 uncovered 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
$38,682
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
4.56%
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%
$773,640
$773.6K
Cap Rate 7%
$552,600
$552.6K
Cap Rate 9%
$429,800
$429.8K
Market Conditions
NOI Build-Up for 1,989 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
$58.5K $29.40/SF
− Vacancy
−$3.2K −$1.62/SF
EGI
$55.3K $27.78/SF
− OpEx
−$16.6K −$8.33/SF
NOI
$38.7K $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%
$773,640
Cap Rate 7%
$552,600
Cap Rate 9%
$429,800
Alternative Uses
Best Use
Multifamily LT 5
$552.6K
$483.5K – $644.7K
NOI $38,682 @ 7.0% cap · market cap 4.56%
Second Best
Apartment 5plus
$496.3K
$434.3K – $579.0K
NOI $34,742 @ 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
3
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
648
Businesses Nearby
Explore this area
Business Placement
Demographics for 95407, CA
42,504
Population
13,371
Households
3.2
Avg Household Size
34
Median Age
17%
College-Educated
73%
High-School Grad
21.6 sq mi
ZIP Area
1,968
Density / Sq Mi
$82,807
Median Household Income
$40,907
Median Earnings
$1,822
Median Rent
$603,300
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?
Triplex - Three-unit triplex offers private fenced yards for both end units and covered plus uncovered parking.
Where is this triplex located?
The property is located at 487 Hearn Ave Santa Rosa, CA.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: 1973‑built 3‑unit triplex with a 3 bed/2 bath, 2 bed/2 bath, and 1 bed/1 bath unit mix; Both end units feature private fenced yards; Covered and uncovered parking: 3 covered spaces and 3 uncovered spaces
