Mixed-Use Apartment
New
For Sale
$51,000,000
960 Doubles Dr, Santa Rosa, CA 95407
Residential units with in-home laundry and private outdoor areas sit above a ground-floor commercial component.
Property Size114,663 SF
Days on Market4
Property Features for 960 Doubles Dr
General Information
Standard status
Active
Size
114,663 SF
Property subtype
Investment
Building Details
Building Size
114,663 SF
Year Built
2007
Units
111
Listed By:
Jaime Gutierrez
(707) 694-1980
Source:
Elliman
Added: Sep 29
Changed: Sep 30
Last Checked: Oct 1 at 12:19PM
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 Jaime Gutierrez
Investment Insights
Based on property information with market context.
Completed in 2007, this mixed-use property in Santa Rosa contains 100 apartments and ground-level commercial space across nine three-story buildings. The residential portion spans 102,367 square feet and offers seven floor plans, from two-bedroom flats to three-bedroom, two-and-a-half-bath townhome-style residences. Apartments average 1,024 square feet and include in-unit laundry and private outdoor space.
The community occupies approximately 3.3 acres at 960 Doubles Dr. Developed within a condominium structure, the property has been operated as a rental community since completion.
The community occupies approximately 3.3 acres at 960 Doubles Dr. Developed within a condominium structure, the property has been operated as a rental community since completion.
Key Highlights
- 100 residential apartments with a ground‑floor commercial component
- Nine three‑story buildings on approximately 3.3 acres
- 102,367 square feet of residential area across seven floor plans
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
$2,002,853
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
3.93%
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%
$40,057,060
$40.1M
Cap Rate 7%
$28,612,186
$28.6M
Cap Rate 9%
$22,253,922
$22.3M
Market Conditions
NOI Build-Up for 114,663 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
$3.83M $33.36/SF
− Vacancy
−$183.6K −$1.60/SF
EGI
$3.64M $31.76/SF
− OpEx
−$1.64M −$14.29/SF
NOI
$2.00M $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%
$40,057,060
Cap Rate 7%
$28,612,186
Cap Rate 9%
$22,253,922
Alternative Uses
Best Use
Apartment 5plus
$28.61M
$25.04M – $33.38M
NOI $2,002,853 @ 7.0% cap · market cap 3.93%
Second Best
Mixed Use
$18.69M
$16.35M – $21.80M
NOI $1,308,276 @ 7.0% cap · market cap 2.57%
Theoretical Best
Multifamily LT 5
$31.86M
$27.87M – $37.17M
NOI $2,229,977 @ 7.0% cap · market cap 4.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
446
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Residential units with in-home laundry and private outdoor areas sit above a ground-floor commercial component.
Where is this mixed-use property located?
The property is located at 960 Doubles Dr Santa Rosa, CA.
What is the asking price?
The asking price for this property is $51,000,000.
What are key features of this property?
This property features: 100 residential apartments with a ground‑floor commercial component; Nine three‑story buildings on approximately 3.3 acres; 102,367 square feet of residential area across seven floor plans
