Formerly known as The Springs Resort, 140 Northside Avenue is a well-located multi-unit courtyard style complex in a fantastic location. This 14-unit property consists of eight cottages, two duplexes and one fourplex. The unit mix includes two studios, six one-bedrooms, five two-bedrooms and one three-bedroom. Twelve of the units feature private yards, and all residents can enjoy a large central common area. This offering is composed of 4 different parcels with their own APN numbers, which allows for loan flexibility for an investor or family compound. The units are separately metered for gas and electricity, and have separate water heaters. For the resident’s convenience, a coin-operated laundry room is located onsite. Built in the 1920s, its long term owners have kept the property well maintained. Easy to manage, this property is ideal for the investor, as well as owner/user, seeking upside potential or opportunities for multi-generational housing.
140 Northside Avenue is the combination of a reasonable price, solid unit mix and a desirable location. Priced at $2,900,000, this proverbial “Cash Cow” starts at a 7.5 CAP and offers tremendous income growth potential. The highly desirable location and setting, coupled with its quaint character and low maintenance, make this a compelling investment opportunity in one of the nation’s wealthiest and most highly constrained rental markets.
Located in Boyes Hot Springs, a desirable redevelopment area, 140 Northside Avenue offers a rare chance to purchase in a coveted “Opportunity Zone.” Residents enjoy the vibrant neighborhood, with an array of restaurants, shopping, seasonal farmers markets and many recreation opportunities right at their doorstep. Walk to the world’s famous Fairmont Sonoma Mission Inn and Spa, and many other restaurants and local businesses. Located within a 10-minute drive to the Sonoma Plaza, the property is only 46 miles from San Francisco and 8.1 miles to the Sonoma Valley Airport.
Composition 14 Units
Land Composition 4 Parcels
Land Size 25,500 SF
Projected CAP Rate 8.1%
David and Erika Rendino
David and Erika RendinoREALTORS®/Owners | RE/MAX Marketplace | DRE# 01252035/01465104
David and Erika Rendino are one of the most respected real estate teams in Sonoma County and are the founding owners of RE/MAX Marketplace. They are recognized by clients and peers as ethical, accomplished and dedicated. They continue to set the standard for excellence, market knowledge, and elite customer service. With more than 25 years of combined experience, David and Erika have closed well over 1,000 transactions since 1998.