732 Petaluma Blvd S, Petaluma, CA 94952

Property Description

3 units on .27 acre in West Petaluma, proforma rental income $94,000 per year, flexible MU2 zoning. Outstanding exchange opportunity with upside. A classic Petaluma 2-story Victorian duplex on the boulevard (both rented mo-to-mo), a newly remodeled vintage 2br/1ba cottage tucked away from the street (potential rental, weekend getaway or primary residence!), and a large area of undeveloped level land surrounded by mature trees. Behind the new redwood gate and fence, find a huge (approx 5000sf) private, level open space: plenty of room for garden, parking, outdoor social or dining areas, or additional units. The Victorian duplex at the front of the property includes 1br/1ba upstairs ($2000/mo) and 2br/1ba downstairs ($2540/mo), and retains many historic details and materials, high ceilings, and much original millwork. The upstairs unit captures views to the east of the Sonoma mountains and oak trees to the west, with lovely coved ceilings in the living room and bedroom. Between the 2 buildings, find a 600sf garage/storage building (one spot rented for $310/month), and plenty of room for off street driveway parking. The cottage-style home is tucked back on the lot away from the street, and features wood paneled walls and ceilings, hardwood floors, and a cozy gas fireplace in the living room, with views of heritage oak trees from the kitchen and back bedroom. Newly remodeled kitchen and bath with subway tile, quartz counters, full sized W/D and car charger make this a comfortable and stylish place to land (market rent potential approx $3000/mo). Potential annual total rental income of $94,000 with room to garden, play, or explore building additional units. Flexible M2 zoning would accommodate future business use with valuable street frontage/signage opportunity. (buyer to verify intended use + development options). Restaurant? Retail? Wine tasting? Offices The quickly evolving PBS corridor is home to popular shops and restaurants including Table Culture Provisions, Metro Hotel, Mystic Theater, Walnut Park Farmer's Market, Theater Square, and the upcoming proposed EKN Hotel Project. Just blocks from historic downtown, Petaluma's riverfront businesses, and multiple parks, the location lends itself to a walkable, bikeable lifestyle in the heart of Petaluma's historic west side.