Listed by CoSol Commercial Real Estate
$1,600,000
308 Washington Square Apartments
Details
APN 001-091-002-000
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,620
Units 16
Cap Rate 6.78%
NOI $108,491
Tenancy Multi
Pro-Forma Cap Rate 7.60%
Pro-Forma NOI $121,166
Price per SqFt $285
Class C
Year Built 1949
Lot Size (SqFt) 17,527
Zoning Commercial
Parking Spaces 16 spaces
Parking per 1,000 SqFt 2.85
Investment Type Value Add
Multifamily | 6.78% CAP | 16 Units
Marketing description
Welcome to Washington Square Apartments. This property boasts an unbeatable location and a strong history of high occupancy. The apartment complex consists of 16 units, including a single-family home. The ±0.4-acre site is situated less than a quarter mile from charming downtown Sonora.
Investment highlights
- Prime Location in Sorona: The Downtown Sonora location provides residents with proximity to shopping, restaurants, parks, city offices and other Downtown amenities. The lack of new construction in Sonora has led to increasing occupancy and rent growth.
- Zoning: The property is located in the City of Sonora's commercial zone which allows for a flexible use. A new owner may seek an advantageous future developments near Downtown Sonora.
- Long Term Tenants: The property experiences very low turnover with the average tenancy approaching 5 years. The property's consistent, realiable preformance illustrates the ease of management and opportunity to continue with rent increases.
- Remaining Upside: The Washington Square Apartments offer immense opportunity for an investor through increasing rents and bringing utility reimbursements current.
Listing Contacts
Listed by CoSol Commercial Real Estate
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$108,491.00
$9,040.92/mo
Valuation Metrics
0
DSCR
6.78%
Cap Rate
6.78%
ROI
Map
Zoning
C CommercialGeneral CommercialCommercial
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View all 10 uses
View all 10 uses Last updated May 25, 2026 For deeper zoning details, reports are available at Zoneomics
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Property History
Tax History
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