
Santa Rosa, CA 95403
This Strategic Multi-Family Asset is listed at $1,249,000, positioned near its $1,193,718 Fair Market Value. Featuring a Condition Rating of 5, the property offers a significant Value-Add Opportunity through the renovation of four non-updated 2-bedroom units. Located minutes from Coddingtown Mall and the SMART train, the asset benefits from high tenant demand and immediate cash flow. This is a high-potential acquisition for Buy-and-Hold Investors or 1031 Exchange Buyers looking to optimize ROI through forced appreciation in a prime Santa Rosa corridor.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2313 Heidi Place Subject | $1,199,000* List Price | 0 | 0 | 3,266 | $302 | - |
A 2336 Heidi Place #1-4 Pending | $950,000 List Price | 0 | 0 | 3,600 | $264 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1971 and explicitly described as 'non-updated,' this property features original 50+ year old kitchens, bathrooms, and popcorn ceilings. While currently occupied, the interiors require a full rehab to meet modern standards, fitting the criteria for a property over 30 years old needing significant value-add work.
Situated near Coddingtown Mall and major transit hubs like Highway 101 and the SMART train, ensuring high tenant demand and long-term appreciation.
The non-updated units offer a significant opportunity to increase rental income through strategic interior renovations and modernization.
As a fully occupied four-plex, the property provides stable, immediate revenue for investors or 1031 exchange buyers.
The 1971 construction and non-updated state suggest a need for capital investment to bring the property up to current market standards.
Managing a fully occupied, older multi-family asset requires navigating existing tenancies while planning for necessary upgrades and repairs.
Strategic Value-Add Opportunity | 2313 Heidi Place, Santa Rosa Investors and exchange buyers will find significant upside potential at 2313 Heidi Place, a fully occupied four-plex in Northwest Santa Rosa. This 3,266 sq. ft. building features four spacious 2-bedroom, 1-bathroom units split between two levels. While the property currently provides immediate cash flow, the units are in a non-updated state, offering a prime opportunity for a modern refresh to bring the interiors in line with today's market standards. Strategic updates will allow a new owner to optimize rental income and capture the building's full market potential. The ground floor also includes a shared coin-operated laundry room for tenant convenience and a landlord storage room for maintenance supplies. The location is a premier driver for long-term appreciation, situated just two minutes from Coddingtown Mall, Whole Foods, and Target. This proximity to high-end grocers and local dining makes the property a highly desirable home base for the local workforce, while quick access to Highway 101 and the SMART train station ensures it remains a top choice for commuters. This is a rare chance to acquire a substantial multi-family asset in a consistent rental corridor with a clear path to increasing value and future growth. Whether you are executing a 1031 exchange or expanding your Sonoma County portfolio, this property offers the ideal combination of stability and profit potential.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 4.0 | 33% |
| Baths | 0.0 | 6.0 | 33% |
| Square foot | 3,266 | 3,266 | 50% |
| Lot Size | 6,930 | 6,970 | 33% |
| Price | $1.20M | $1.20M | 50% |
| Price per sq ft | $367 | $405 | 33% |
| Built year | 1971 | 2001 | 33% |
| HOA | $0 | $0 | 50% |
| Days on market | 45 | 115 | 33% |
Jun 3, 2026
$1,199,000
$1,249,000
-4% Price Drop
Initial Listing
Apr 22, 2026
$1,249,000
Initial Listing
Apr 26, 2019
$1,100,000
Public Record
Mar 15, 2007
$625,000
Public Record