725 W College Ave · Santa Rosa, CA 95401

$11,800,000

95 bd · 72.5 ba · 42,357 sqft · MultiFamily public records · 40 Days on market

Built 1985 2.80 ac lot

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +14.0/30.0
• ARV discount +7.5/15.0
• DSCR +4.2/10.0
• Livability +3.8/5.0
• Schools +3.7/10.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 35 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Cedarwood Apartments is a 35-unit, condo-mapped multifamily community on 2.80 acres in central Santa Rosa, offered for purchase individually or as a portfolio with North Street Apartments (1570 North Street, Santa Rosa) The property features a 3BR-heavy unit mix 25 three-bed/2.5-bath townhome-style units averaging 1,230 SF and 10 two-bed flats with individual furnaces, individual hot water heaters, attached garages, and a pool. In-place rents average $2,854, leaving 9% of mark-to-market upside ($253/unit) and an additional $268/unit achievable through interior renovations and exterior siding upgrades. The condo map provides flexible long-term exit optionality. 97% occupied and immediate proximity to Santa Rosa Plaza, Highway 101, and Downtown Santa Rosa.

Key facts

• Individual furnaces
• 2.80 acres
• 35 unit community

Tags

• 35 UNIT COMMUNITY
• 2.80 ACRES
• INDIVIDUAL FURNACES
• INDIVIDUAL HOT WATER HEATERS
• ATTACHED GARAGES
• POOL

Property features AI

Finance

• Other: Living area reported as 39,250; Property primary ID: 744540
• Financial info: 35-unit complex; Annual rental income: $1,187,215; Annual gross income: $1,156,616; Gross scheduled income: $1,204,808; Other income: $17,593; Total expenses: $459,690; Other expenses: $79,813; Utility expenses: $152,592; Vacancy factor: 4%; Gross rent multiplier: 9.79

Exterior

• Parking: Attached and covered parking; 35 garage spaces
• Utilities: Public water; Public sewer; Individual electric meters; Individual gas meters; Primary and separate meters for electric, gas, and water
• Home design: Multi-building property with 10 buildings; Zoning: CITYSR
• Construction: Crawl space foundation
• Exterior features: Flat/low pitch roof; In-ground pool; Tenant-paid utilities for electric and gas

Interior

• Bedrooms: 10 units with 2 bedrooms; 25 units with 3 bedrooms
• Bathrooms: 2-bedroom units include 1 full bath; 3-bedroom units include 2 full baths and 1 half bath
• Heating & cooling: Wall furnace heating; Cooling: Other (see remarks)
• Interior features: Security features noted (see remarks)

What this means for you Summary

Snapshot

• This is a 25×3bd/2.5ba + 10×2bd/1ba units multifamily listed at $11.80M.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $41/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $9.54M (19.1% below list).
• Recommended offer: $9.54M (19.1% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 2.5% in Santa Rosa — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 75/100 on livability (#112 in CA, #3,940 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living F.
• Santa Rosa High (urban): math 31% / reading 47% proficiency, ranked #703 of 1,400 in CA (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Helen M. Lehman Elementary (411 students, 59% FRL); Hilliard Comstock Middle (434 students, 60% FRL); Piner High (1,361 students, 51% FRL) — zoned schools average 57% FRL vs 22% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.4%/yr); 79 active listings in the ZIP; solid renter incomes; 1,039 units permitted in Sonoma County in 2024 (185 in 5+ unit buildings).
• At $95,416/mo this rent would consume 1223% of the median local household income ($94k/yr) (locally 1525% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $82k of loan paydown is wiped out by about $354k of value loss. Plan a longer hold.
• Sonoma County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($11.45M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $6.10M; list at $11.80M implies a 93% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $9,541,600 (19.1% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.81% ✗
• Cap rate: 6.44%
• Cash-on-cash: 0.52%
• DSCR: 1.02
• GRM: 10.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -18.6%
• Equity multiple: 0.36×
• Total profit: $-2,104,489
• Equity at exit: $1,759,418

10-year hold

• IRR: -17.8%
• Equity multiple: 0.15×
• Total profit: $-2,809,804
• Equity at exit: $1,020,248

Cash invested: $3,304,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 95401

• Rents YoY: -1.4%
• Active inventory: 79
• Price-to-rent: 355.5×

Monthly cashflow live

• Estimated rent: $95,416 high
• Mortgage (P&I): −$61,880
• Tax from tax record: −$7,161 /mo · $85,933/yr
• Insurance: −$4,917
• HOA: −$0
• Vacancy / Maint / Mgmt: −$20,037
• Net cashflow: $1,420

Break-even live

Break-even rent $93,618

Max offer price $11,800,000

Occupancy floor 94%

Sensitivity live

Price	-10% $8,100	-5% $4,760	+0% $1,420	+5% $-1,919	+10% $-5,259
Rent	-10% $-6,117	-5% $-2,348	+0% $1,420	+5% $5,189	+10% $8,958
Rate	-1.0pp $7,363	-0.5pp $4,422	base $1,420	+0.5pp $-1,637	+1.0pp $-4,748

35-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 25× units	3	2.5	$69,150
▸ 10× units	2	1	$26,270
Total (35 units)			$95,416

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $2,950,000
• Closing costs: $354,000
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $11,800,000 Active 40 DOM
2. 2026-06-18
   days on market $11,800,000 Active 37 DOM
3. 2026-06-17
   days on market $11,800,000 Active 36 DOM
4. 2026-06-16
   days on market $11,800,000 Active 35 DOM
5. 2026-06-15
   days on market $11,800,000 Active 34 DOM
6. 2026-06-14
   days on market $11,800,000 Active 32 DOM
7. 2026-06-13
   days on market $11,800,000 Active 31 DOM
8. 2026-06-10
   days on market $11,800,000 Active 29 DOM
9. 2026-06-09
   days on market $11,800,000 Active 28 DOM
10. 2026-06-08
    days on market $11,800,000 Active 27 DOM
11. 2026-06-07
    days on market $11,800,000 Active 26 DOM
12. 2026-06-05
    days on market $11,800,000 Active 23 DOM
13. 2026-06-03
    days on market $11,800,000 Active 22 DOM
14. 2026-06-02
    days on market $11,800,000 Active 21 DOM
15. 2026-06-01
    days on market $11,800,000 Active 20 DOM
16. 2026-05-31
    days on market $11,800,000 Active 19 DOM
17. 2026-05-30
    days on market $11,800,000 Active 18 DOM
18. 2026-05-12
    listed $11,800,000 Active 764-char remark

    Show marketing remark (764 chars)

    Cedarwood Apartments is a 35-unit, condo-mapped multifamily community on 2.80 acres in central Santa Rosa, offered for purchase individually or as a portfolio with North Street Apartments (1570 North Street, Santa Rosa) The property features a 3BR-heavy unit mix 25 three-bed/2.5-bath townhome-style units averaging 1,230 SF and 10 two-bed flats with individual furnaces, individual hot water heaters, attached garages, and a pool. In-place rents average $2,854, leaving 9% of mark-to-market upside ($253/unit) and an additional $268/unit achievable through interior renovations and exterior siding upgrades. The condo map provides flexible long-term exit optionality. 97% occupied and immediate proximity to Santa Rosa Plaza, Highway 101, and Downtown Santa Rosa.

19. 2026-05-12
    listed $11,800,000 Active 764-char remark

    Show marketing remark (764 chars)

    Cedarwood Apartments is a 35-unit, condo-mapped multifamily community on 2.80 acres in central Santa Rosa, offered for purchase individually or as a portfolio with North Street Apartments (1570 North Street, Santa Rosa) The property features a 3BR-heavy unit mix 25 three-bed/2.5-bath townhome-style units averaging 1,230 SF and 10 two-bed flats with individual furnaces, individual hot water heaters, attached garages, and a pool. In-place rents average $2,854, leaving 9% of mark-to-market upside ($253/unit) and an additional $268/unit achievable through interior renovations and exterior siding upgrades. The condo map provides flexible long-term exit optionality. 97% occupied and immediate proximity to Santa Rosa Plaza, Highway 101, and Downtown Santa Rosa.

20. 2013-09-12
    soldstatus $6,100,000
21. 2012-08-03
    soldstatus $4,100,000
22. 1988-01-12
    soldstatus $1,850,000
23. 1984-02-03
    soldstatus $400,000
24. 1984-02-03
    soldstatus $400,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $85,933 · $7,161/mo
• Projected year-2 tax: $89,680 · $7,473/mo
• Expected delta: +$3,747/yr (+$312/mo · 4.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 47% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥92°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 15 unhealthy d/yr today · 17 by 30 yrs out

Taxation est. · year 1

• Rental income: $1,144,992
• − Mortgage interest: −$660,983
• − Property taxes: −$85,933
• − Insurance: −$59,000
• − Repairs & maintenance: −$91,599
• − Management: −$91,599
• − Depreciation: −$343,273
• Taxable loss: −$187,396
• Est. tax savings @ 24.0%: +$44,975
• After-tax cash flow: $62,020/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Santa Rosa High
• NCES district ID: 0635830
• Math proficiency: 31% —
• Reading proficiency: 47% —
• Median HH income: $62,000
• Composite: 37.25/100
• National rank: #8972
• State rank: #703 of 1400 in CA

Livability — Santa Rosa

• Score: 75/100
• State rank: #112
• US rank: #3940

Category grades

Amenities A+ Commute A+ Cost of living F Crime C Employment A+ Housing B- Health & safety A+ User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Santa Rosa, CA
• County: Sonoma County · 449,805 people
• City population: 210,074
• Metro: Santa Rosa-Petaluma, CA
• Population (ZIP): 36,861
• Household income: $93,615
• Rent vs Own: 46.1% rent · 53.9% own
• Severe rent burden: 1525.0

Population outlook (Sonoma County) Hauer SSP2

• Today (2025): 539,935 people
• By 2030: 554,870 · +2.8%
• By 2040: 573,262 · +6.2%
• By 2050: 580,715 · +7.6%
• By 2075: 579,229 · +7.3%
• By 2100: 547,835 · +1.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 46% Hispanic / Latino 41% Two or more races 16% Asian 6% Black 1% Native American 1%
• Hispanic origin (detail): Mexican 36%
• Common ancestry: Lithuanian 2% Italian 2% Slovak 1%
• Foreign-born: 24% · Canada, Vietnam, China
• Languages at home: 63% English-only · Spanish 32% Other Indo-European 2% Tagalog/Filipino 1%

Political lean MEDSL · Sonoma

• 2024 margin: Solid D (+46.2) · D 71.4% · R 25.2% · Other 3.3%
• 2008→2024 swing: -3.4pp toward R · 2008: 49.6pp · 2024: 46.2pp
• All cycles: 2024: D+46.2 2020: D+51.5 2016: D+47.9 2012: D+44.9 2008: D+49.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -855.56%
• Current HPI: 253.1061
• Rent YoY: ▼ -1.37%
• Metro: Santa Rosa-Petaluma, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+2850.0% since first listed

7 events — show timeline

• 2026-05-12 Listed $11,800,000 MLSListings
• 2026-05-12 Listed $11,800,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2013-09-12 Sold (Public Records) $6,100,000 Public Records
• 2012-08-03 Sold (Public Records) $4,100,000 Public Records
• 1988-01-12 Sold (Public Records) $1,850,000 Public Records
• 1984-02-03 Sold (Public Records) $400,000 Public Records
• 1984-02-03 Sold (Public Records) $400,000 Public Records

Property tax history

+6.0%/yr

Latest (2025): $85,933 · +1.6% YoY. Source: county tax records.