Newmark is pleased to present South E Street Apartments located at 445 South E Street in Santa Rosa, California. The property is in the desirable east side of Santa Rosa, within short walking distance to Downtown and the Sonoma County Fairgrounds. Access to Highway 101 and Highway 12 is extremely convenient providing quick access to other communities within Sonoma County. Constructed in 1970, the property comprises 19 units in two buildings with(18) 1- bedroom units and (1) 2-bedroom unit, along with laundry facilities. The property offers a central courtyard and tuck-under parking all placed on a ±20,280 square foot parcel. South E Street Apartments are currently undergoing renovations. All 19 units are being renovated by the owner with new kitchen millwork, counters, and appliances. Bathrooms are also being renovated with new millwork and fixtures. New flooring throughout along with new water heaters. This offering is unique as it provides a new owner guaranteed income while the Seller completes all the renovation work after the Close of Escrow. The Seller will MasterLease the property back at renovated market rental rates for a period of two years after Close of Escrow or six months after stabilization at renovated market rental rates, whichever occurs first. This allows the new owner to enjoy stabilized income at fully renovated rents on day one guarantee by Seller (with a strong financial statement).