Traditional Multifamily
For Sale
$945,000
6120 Montecito Boulevard Santa, Santa Rosa, CA 95409
Residential income property with central heating, gas service, covered parking, and a private yard with playground.
Property Size2,080 SF
Days on Market208
Property Features for 6120 Montecito Boulevard Santa
General Information
Standard status
Active
Size
2,080 SF
Property subtype
Duplex
Amenities
Central
Natural Gas
Dishwasher
Disposal
Free Standing Gas Range
Free Standing Refrigerator
Gas Water Heater
Insulated Water Heater
Cable Available, Cable Connected, City, Internet Available, Natural Gas Connected, Sewer Connected, Composition, Flat
Building Details
Building Size
2,080 SF
Year Built
1962
Buildings
2
Listing Agency:
Compass
(707) 480-7653
Listed By:
Jeff B Schween · License #01098851
Source:
Kw
Added: Feb 3
Changed: Aug 30
Last Checked: Jul 17 at 5:05PM
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 multifamily property, built in 1962, offers a traditional residential configuration with central heating, natural gas service, a gas water heater, and a kitchen equipped with a dishwasher, disposal, freestanding gas range, and freestanding refrigerator. Exterior features include a covered carport, off-street parking, a private yard, and a playground.
The property is located at 6120 Montecito Boulevard in Santa Rosa, Sonoma County. Access is described from Mission Boulevard east on Montecito Boulevard, near the corner. Hills are also identified among the exterior characteristics.
The property is located at 6120 Montecito Boulevard in Santa Rosa, Sonoma County. Access is described from Mission Boulevard east on Montecito Boulevard, near the corner. Hills are also identified among the exterior characteristics.
Key Highlights
- 2,080 property size
- Built in 1962
- Central heating and natural gas service
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
$36,332
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
3.84%
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%
$726,640
$726.6K
Cap Rate 7%
$519,029
$519.0K
Cap Rate 9%
$403,689
$403.7K
Market Conditions
NOI Build-Up for 2,080 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
$69.4K $33.36/SF
− Vacancy
−$3.3K −$1.60/SF
EGI
$66.1K $31.76/SF
− OpEx
−$29.7K −$14.29/SF
NOI
$36.3K $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 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%
$726,640
Cap Rate 7%
$519,029
Cap Rate 9%
$403,689
Alternative Uses
Best Use
Apartment 5plus
$519.0K
$454.2K – $605.5K
NOI $36,332 @ 7.0% cap · market cap 3.84%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$577.9K
$505.7K – $674.2K
NOI $40,452 @ 7.0% cap · market cap 4.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
235
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?
Multifamily property - Residential income property with central heating, gas service, covered parking, and a private yard with playground.
Where is this multifamily property located?
The property is located at 6120 Montecito Boulevard Santa Santa Rosa, CA.
What is the asking price?
The asking price for this property is $945,000.
What are key features of this property?
This property features: 2,080 property size; Built in 1962; Central heating and natural gas service
