Excellent opportunity to acquire a 39-unit apartment complex on over two acres in Santa Rosa, offering immediate cash flow with significant value-add potential. Colgan Creek Cottages features a diverse unit mix comprised of one (1) 3-bedroom, 2-bath single-family home, one (1) 3-bedroom cottage, four (4) 2-bedroom units, thirteen (13) 1-bedroom units, and twenty (20) studios, spread across multiple parcels. Unlike traditional apartment buildings, most residences are individual cottages with no shared wallsan appealing layout that enhances privacy and drives tenant demand. Amenities include an on-site laundry room with attached workshop and office, three storage buildings, ample on-site parking, and a utility structure that allows for substantial cost recovery through tenant bill-backs. Situated in one of the fastest-growing submarkets of Santa Rosa, the complex enjoys historically strong occupancy with minimal turnover. Significant upside exists through unit renovations and upgrades, while the large lot provides additional development potential through new construction or ADUs. Positioned as an attractive alternative to higher-priced new construction, this investment combines immediate cash flow with multiple pathways for long-term value creation.
Copyright 2025, Bay Area Real Estate Information Services, Inc. All Rights Reserved
Serving Cloverdale, Graton, Healdsburg, Rohnert Park, Santa Rosa, Sebastopol, Tomales, Windsor and surrounding Sonoma County, CA areas.
The First step when selling your home is to set the right price for the current market conditions in your area.
Get a Free Home Evaluation