Santa Rosa Oaks
Santa Rosa
Westlake purchased this property in 1981 for $1.7M. Almost 40 years later, the Oaks was well positioned to take advantage of the initial gentrification of the surrounding area. With an easy walk to the SMART train and Whole Foods, convenient access to downtown and hip nearby eating, drinking and entertainment venues, plus quick access from north Santa Rosa to destinations such as the Russian River and Healdsburg, this location is ideal for the college student with roommates or young professionals.
PROJECT HIGHLIGHTS
- Full Exterior Envelope Replacement, Windows, Doors, Siding, Roof & Stair Replacement
- Unit Interior upgrade, Flooring, Hardware, Addition of W/D, Replacement of all Appliances, Addition of Forced Air, Full Kitchen & Bath Replacement and Electrical Panel Upgrade
- Demolition of the carports and sitewide landscaping and lighting upgrades to give the entire community a “fully renovated” look and feel
- Addition of fence and front gate to enhance community
KEY METRICS
- Pre-Renovation Rent: $1,400/mo.
- Post-Renovation Rent: $2,500/mo.
- Yield on Cost: 8.8%
