Presenting a rare opportunity to acquire a strategically located 36-unit apartment community offering exceptional flexibility, strong in-place income, and substantial upside potential. The property consists of thirty-five spacious 4-bedroom, 2-bath units and one 2-bedroom, 1-bath unit, creating a unique asset that can be operated as a traditional multifamily apartment complex or optimized as a 142-bed student housing investment serving nearby Sonoma State University. With no deed restrictions, investors benefit from maximum operational flexibility and the ability to capitalize on the area’s persistent demand for both conventional rental housing and student accommodations. Located just 1.1 miles from Sonoma State University and approximately 0.3 miles from the SMART Train station, the property offers residents unparalleled access to education, employment centers, transportation, dining, shopping, and entertainment. The community has benefited from numerous capital improvements, including updated kitchens, new electrical subpanels, solar panels, and recently completed parking lot striping and seal coating. Residents enjoy an extensive amenity package rarely found in comparable assets, including on-site laundry facilities, a dedicated leasing office, large owner storage rooms, a study lounge, fitness center, game room, theatre room, picnic area, volleyball lawn, and multiple private patios and balconies throughout the property. Ample off-street parking and well-manicured grounds further enhance tenant appeal. This offering presents a compelling value-add opportunity with significant rental upside through continued operational improvements, amenity enhancement, and strategic repositioning. Whether operated as a traditional multifamily investment or a purpose-driven student housing community, the property is exceptionally well positioned to benefit from the robust rental demand and long-term growth dynamics of the Sonoma County market.