Contacts
Keegan & Coppin
Property Details
- Property Type Office
- Property Size 6,000 SF
- Lot Size 0.36 Acre
- Building Class C
- Date Updated May 16, 2025
3000 Cleveland Avenue represents an opportunity to develop a 14-unit apartment building through the re-purpose of an existing office building. Plans call for a unit mix of 13 one bedroom units and 1 studio unit.
The office building currently has several tenants on short term and month to month leases. Plans exist for the conversion and the seller has applied for initial review by the City Planning department. Conversion
construction bids are available for review. The financial opportunity is to ultimately own a newly re-purposed apartment project for less than $200,000 per unit. The acquisition cost of $1,786,000 plus the
conversion cost estimates of approximately $1,000,000 is a total investment of $2,786,000. This would be equal to $192,857 per unit. Newer and refurbished apartments in Santa Rosa have sold for well over
$300,000 per unit and the highest, reaching $466,000 per unit. After the conversion the potential value should be in the range of $4,200,000 to $4,900,000 and after the purchase price and conversion costs
estimates of $2,786,000 would provide the ownership with a minimum of $1,500,000 in equity build up for doing the construction conversion. This attractive opportunity has existing income from the office
tenants until the conversion is started. There is already existing plans in process for the construction. The City of Santa Rosa is very accommodating toward the development of apartments and the existing
zoning provides for multi-family use.
Reach out to the broker for more info on lease terms and amenities
Getting around
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67/100
Walk Score ®
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40/100
Transit Score ®
-
56/100
Bike Score ®
Location
- City Santa Rosa, CA
- Neighborhood North Junior
- Zip Code 95403
- Market San Francisco
Points of Interest
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Santa Rosa Downtown
2.01 miles
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Rohnert Park
8.36 miles
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Cotati
9.52 miles
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ChargePoint
0.47 miles
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Tesla Supercharger
0.48 miles
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eVgo
0.60 miles
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Safeway Fuel Station
0.69 miles
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Chevron
0.69 miles
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Circle K
0.75 miles
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Chevron Santa Rosa
1.05 miles
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West College Gas & Mart
1.42 miles
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Shell
1.46 miles
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Speedway Express
1.46 miles
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P21
0.20 miles
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P20
0.22 miles
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Emeritus Lot
0.69 miles
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Bech Lot
0.76 miles
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Don Zumwalt Parking Pavillion
1.00 miles
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Garage Three
1.84 miles
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5th and Morgan Lot
1.96 miles
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3rd Street Garage
1.97 miles
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Santa Rosa Plaza Shopping Center
1.99 miles
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Depot Lot
2.02 miles
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Park Inn by Radisson
0.14 miles
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Rodeway Inn
0.20 miles
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Golden Coin Motel
0.57 miles
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Extended Stay America - Santa Rosa - North
0.58 miles
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Sandman Hotel
0.66 miles
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North Bay Inn
0.77 miles
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BEST WESTERN PLUS Wine Country Inn & Suites
0.99 miles
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Hampton Inn & Suites Santa Rosa Sonoma Wine Country
1.29 miles
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Krissie's B&B
1.70 miles
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Hotel E
1.97 miles
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Lucky
0.54 miles
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Trader Joe's
0.55 miles
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Macy's
0.59 miles
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Coddingtown Mall
0.59 miles
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Whole Foods Market
0.59 miles
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Safeway
0.61 miles
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Target
0.63 miles
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JCPenney
0.66 miles
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Big Lots
0.69 miles
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Community Market
0.75 miles
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.
Keegan & Coppin
