INCOME PROPERTY AVAILABLE FOR SALE
INCOME, LOCATION, CHARM!
607 7th Street, Petaluma, CA 94952 PROPERTY SUMMARY Building Type: Triplex Year Built: 1979 Building Size: 3,142 Sq Ft Total Land Area: 11,250 Sq Ft Tax ID: 008-211-022
Offered at $1,490,000
www.6077thStreet.com David and Erika Rendino, Income Property Specialists | (707) 696-3742/318-1851 | Derendino@gmail.com | RendinosRealEstate.com
607 7th Street, Petaluma, CA 94952
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MULTI-UNIT
RE/MAX Marketplace is proud to present… Income, Location, Charm! Located in one of Petaluma’s most desirable neighborhoods, this prime multi-unit opportunity is ideal for the owner/ user as well as investor. Property is composed of a charming two bedroom, one bath bungalow in the front and a two bedroom, one and one-half bathroom townhouse-style duplex in the rear. All units feature garages, generous backyards, ample parking, and indoor laundry. The duplex has been recently remodeled. Just a few blocks from McNear Park and downtown Petaluma.
QUICK FACTS Size: ± 3,142 Sq Ft Total Price: $1,490,000 Unit Mix: 1 Cottage; 1 Duplex Year Built: 1979 Tax ID: 008-211-022
Offered at $1,490,000 David and Erika Rendino, Income Property Specialists | 707.696.3742 / 318.1851 | derendino@gmail.com | www.RendinosRealEstate.com
www.6077thStreet.com
LOCATION
Property Property Map Map
DISTANCES .3 Miles to McNear Park .4 Miles to McNear Elementary .7 Miles to Walnut Park .7 Miles to Downtown .7 Miles to Theater District .9 Miles to Petaluma High 3 Miles to SMART Station *Lot Dimensions *Lot Dimensions are Estimated are Estimated
David and Erika Rendino, Income Property Specialists | 707.696.3742/318.1851 | derendino@gmail.com | www.RendinosRealEstate.com
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RE/MAX Marketplace David Rendino
Direct www.6077thStreet.com Phone: (707) 696-3742
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Derendino@gmail.com www.RendinosRealEstate.com 755 Baywood Dr Ste 201 Petaluma, CA 94954
INCOME & EXPENSE Brokers Reconstructed Improvements Triplex Location 607 7th St City Petaluma State CA 94952 Terms
Proposed Financing Loans Balance First $ Second $ Total $ Expenses
$ Insurance $ Water/Sewer/Garage $ Maintenance/Repairs $ Misc $ Estimated Taxes
Total Expenses Expense/Income
$
Each office independently owned and operated
Multiple Residential Unit Number Of Units Gross Multiplier Proj. G. R.M M Cap Rate Proj. Cap Rate
-
17,400 1,800 3,300 2,000 2,000
Payment $ $
-
#/Yr 0 0 0
Income Schedule Unit 607 607-A 607-B
Annual $ $ $
Type House Townhome Townhome
-
Interest $
Bed
3 13.31 12.99 5.5% 5.6%
-
2 2 2
Amortized Due
Baths
0
Comments
Unit Rent Mkt Rent 1 $ 3,100 $ 1.5 $ 2,875 $ 1.5 $ 3,100 $
26,500.00 Income/Month 24% Income/Year
Site and Building Description Lot Size 7,405 Building est 3,528 Zone Triplex Year 1974 Construction Wood frame Stories 2 Tenant Pays PG&E Roof Composition Personal Prop. n/a Assessments Land $ 623,968 Bldg $ 374,379 Total $ 998,347 %Land %Bldg A.P.N. 008-211-022
Annual Property Stat. Price $ 1,450,000 Down $ 1,450,000 New Loans $ Price/Unit $ 483,333 $/Ft $ 411
$
Analysis Gross Rent Vacancy Factor Operating Income Expenses Net Income Loan Payments Pre-Tax Cash Flow Annual Depreciation Tax Loss Possible Tax Savings After-Tax Cash Flow Max Tax Braket (US+CA) Rate of Return (Cash Flow Only) Projected Annual Appreciation Rate of Return (Appreciation Only) Total Rate of Return
3,100 3,100 3,100
9,075
$
9,300
$ 108,900
$
111,600
Actual $ 108,900 $ 3,267 $ 105,633 $ 26,500 $ 79,133 $ $ 79,133 $ (24,167) $ 54,966 $ (23,416) 55,717 42.60% 3.8%
Market $ $ $ $ $ $ $ $ $ $ $
0.00% 3.8%
111,600 3,348 108,252 26,500 81,752 81,752 (24,167) 57,585 (24,531) 57,221 42.60% 4% 0.00% 4%
Remarks **The above is a working document primarily based on past performance. Some estimates may be based on limited information and have been estimated. All income and expenses should be thoroughly verified by buyer during escrow. Cap rate projections have been rounded to the highest whole number.
David and Erika Rendino, Income Property Specialists | 707.696.3742/318.1851 | derendino@gmail.com | www.RendinosRealEstate.com
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607 7th Street, Petaluma, CA 94952
David and Erika Rendino, Income Property Specialists | 707.696.3742 / 318.1851 | derendino@gmail.com | www.RendinosRealEstate.com
www.6077thStreet.com
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ABOUT PETALUMA
Incorporated in 1858, Petaluma is one of California’s oldest cities. With the distinction of being the birthplace of the first egg-hatching incubator, Petaluma quickly came to be known as the undisputed “egg basket of the world” by the early 1900s. And where did the farmers take their chickens when they were under the weather? To the Poultry Pharmacy to visit the Chicken Doctor, of course! It’s true, Petaluma had the world’s only Chicken Pharmacy, Chicken Rodeo and Egg Queen Ball, which helped cement its 100+ year nickname of “Chickaluma”. *Population: 59,340 Median Age: 40.8 Median Household Income: $80,276 Number of Employees: 30,031 Employment Growth: 1.27%
Employment by Occupation—Most to Least: Administrative Sales Management Education, Training, & Library Business & Financial Operations * Dataset: ACS 5-year Estimate Source: Census Bureau
David and Erika Rendino, Income Property Specialists | 707.696.3742/318.1851 | derendino@gmail.com | www.RendinosRealEstate.com
David Rendino & Erika Rendino Income Property Specialists DRE# 01252035 | 01465104
8220 Old Redwood Hwy, Cotati, CA 94931
Direct: 707.696.3742 | Español: 707.318.1851 | Email: drendino@mac.com
The Rendino Team EXPERIENCE
INTEGRITY
RESULTS
www.6077thStreet.com
The Rendino Team
The information contained herein has been obtained through sources deemed reliable by RE/MAX Marketplace, but cannot be guaranteed for its accuracy. We recommend to the buyer that any information, which is of special interest, should be obtained through independent verification. ALL MEASUREMENTS ARE APPROXIMATE.