429 8th Street
W Commercial is pleased to present 429 8th Street for sale — Ludwig Apartments, a seven-unit multifamily property in downtown Santa Rosa, mid-block between A Street and B Street. The three-level building of approximately 9,450 square feet sits on a 0.2846-acre lot and is offered fully occupied and free and clear of debt.
At $1,675,000 — $239,286 per door — and a 5.74% cap rate on in-place income, the offering delivers stabilized cash flow with defined near-term upside: increases allowable under statewide rent control lift scheduled income from $137,340 to $147,024 and the proforma cap rate to 6.32%, with no capital investment required.
- Sale Price
- $1,675,000
- Price Per Unit
- $239,286
- Net Operating Income
- $96,138
- Cap Rate
- 5.74%
- Proforma Cap Rate
- 6.32%
- GRM
- 12.20
- Units
- 7
- Unit Mix
- 3 × 2 Bed – 1 Bath, 3 × 1 Bed – 1 Bath, 1 Studio
- Average Unit Size
- 1,350 SF
- Building Size
- 9,450 SF
- Lot Size
- 0.28 Acres
- Built
- 1983
- Zoning
- R-3-18
- Parking
- 8 Total — 4 Garage, 3 Carport, 1 Uncovered
- Power
- Yes
- HVAC
- Yes
- Gas
- Yes
- Sprinklers
- Yes
- Laundry
- In-Unit Washer / Dryer (6 of 7)
- APN
- 010-032-015
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