
Santa Rosa, CA 95404
This Residential Income Triplex presents a High-Potential Investment Opportunity with a List Price of $995,000—positioned above the $887,402 Fair Market Value by 12%. While the property requires a comprehensive renovation due to its Condition Rating of 5, it offers a stable 5% capitalization rate and consistent income from long-term tenants. Located in the Cherry Street Historic District, the asset provides significant value-add potential through modernization of the dated interiors. This is an ideal acquisition for Buy-and-Hold Investors or Value-Add Developers seeking a historic downtown Santa Rosa asset.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 900 Cherry Street Subject | $995,000* List Price | 0 | 0 | 2,104 | $422 | - |
A 838 Wheeler Street Sold | $1,050,000 | 6 | 0 | 2,484 | $423 | 0.7 mi |
B 900 Cherry Street Active | $995,000 List Price | 3 | 3 | 2,104 | $473 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1950, this triplex shows interiors that appear largely original or have not been renovated in over 30-50 years. The kitchens feature dated cabinetry, old tile countertops, and aging appliances that are well beyond their typical life cycle. While functional for current tenants, the property requires a comprehensive rehab of the kitchens, baths, and likely systems to meet modern standards.
Situated in the desirable Cherry Street Historic District, the property offers exceptional walkability to downtown Santa Rosa's premier dining, shopping, and entertainment hubs.
The property boasts a solid 5% capitalization rate with a consistent gross annual income of $68,000 and long-term tenants already secured through April 2026.
As a well-maintained 1950s mid-century modern triplex, the building offers unique aesthetic appeal and historical significance that attracts high-quality, long-term residents.
With one unit measuring only 450 square feet, the compact living space may limit future rent appreciation or appeal to tenants seeking more spacious accommodations.
The presence of only two laundry hook-ups for a three-unit building creates a logistical imbalance that may cause inconvenience for residents and impact utility management.
This downtown mid-century modern Historic Cherry Street Triplex is located in the 'Cherry Street Historic District' which is walking distance to downtown Santa Rosa with its mall, restaurants, and shops. This is a 1950 Mid-Century Modern building in good condition and with consistent income currently $5,700 per month total. That equates to $68,000 in Gross income per year with a Net Operating Income of $45,600, representing a scheduled Capitalization Rate of roughly 5% projected for a new owner. Each unit has 1 bedroom, 1 bath, a living room, bedroom, and full kitchen. There are 2 laundry hook-ups, use varies between units. 900 Cherry is roughly 750 sq ft. 516 'A' is roughly 700 sq ft. 516 'B' is roughly 450 sq ft. Each unit is occupied with long-term tenants that would like to remain. The leases are all recently extended to April 2026 and go month-to-month thereafter. The tenants would like to remain longer term. This is a desirable neighborhood sought after by all that enjoy having such close proximity to downtown Santa Rosa and all it has to offer.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 2,104 | - |
| Lot Size | 3,402 | - |
| Price | $995.0K | $798.2K |
| Price per sq ft | $473 | $432 |
| Built year | 1950 | 0 |
| HOA | $0 | $0 |
| Days on market | 19 | 74 |
Jul 3, 2026
$995,000
Initial Listing