Exclusively listed by John Garrett | (415) 652-8431 | john.garrett@marcusmillichap.com Located at 10117 & 10125 Old Redwood Highway in Windsor, this multifamily investment opportunity offers a compelling combination of in-place income, value-add upside, and significant future development potential. Situated on two adjacent parcels just one mile from the vibrant Windsor Town Green, the property features an existing 12-unit apartment community alongside a vacant parcel with the potential to accommodate up to 24 additional units in a mixed-use development, creating a unique opportunity to scale an investment in one of Sonoma County’s most desirable rental markets. The existing residential improvements consist of a townhouse building with (4) two-bedroom, one-bath townhomes and (2) three-bedroom, one-bath townhomes, a duplex with (2) two-bedroom, one-bath units, and (4) detached cottage-style residences offering two bedrooms and one bathroom each. Each townhome unit has a private front deck and an assigned storage closet. The duplex and detached cottages are all single-story with private fenced yards. The duplex and detached cottages include in-unit laundry, a highly desired amenity that increases rental value and tenant retention. The property benefits from 28 existing surface parking spaces and an expansive central landscaped courtyard shaded by mature trees, creating a neighborhood-like feel. Ownership has already completed electrical service upgrades for all units, providing an important infrastructure improvement that is required in today's insurance environment. Current rents are approximately 12% below market rents in as-is condition providing a low-lift scenario to increase cashflow simply through annual rent increases in compliance with CA AB1482. Investors have the opportunity to unlock substantial additional value through strategic interior and exterior improvements. Renovating unit interiors, modernizing finishes, and enhancing the landscaping and outdoor common areas present a clear path toward increasing rental income and elevating the overall quality of the asset. In addition, there may be the opportunity to further increase density through the development of ADU units on the improved parcel, subject to buyer investigation and local approvals. The adjacent vacant parcel represents a significant long-term value driver with the potential for a mixed-use development to include up to 24 additional residential units. This creates the rare opportunity to combine stable existing cash flow with future ground-up development potential within the same investment. Windsor continues to attract residents seeking a high quality of life, strong community amenities, and proximity to major employment centers throughout Sonoma County. The property’s location near the Windsor Town Green places tenants within minutes of popular restaurants, tasting rooms, boutique retail, seasonal farmers markets, and community events that have made Windsor one of the North Bay’s most desirable communities. Residents also benefit from nearby parks, excellent schools, and convenient access to Highway 101, providing connectivity to Santa Rosa, Healdsburg, and the broader Bay Area. Opportunities that combine current income, renovation upside, and meaningful future development potential in an established Sonoma County location are very difficult to find. 10117 & 10125 Old Redwood Highway offers investors the ability to execute on multiple value-creation strategies within a single asset.