109 Ellis ST Petaluma, CA 94952

Major Price Reduction! Contractors and Developers! Tear-down 4 units on HUGE 30,000 sq. ft. lot!! This property needs either a full rehab, or it is Fully Entitled with the City of Petaluma for a high-end and rare 13-unit apartment development. Presently the property has a house which is ready to rehab, a 2bd/1b separate cottage, a 1bd/1ba and studio, located within walking distance of the new SMART line and super close proximity to the trending historic downtown area, shopping, restaurants, schools and other amenities. The development opportunity includes 12 two-bedroom two-bath townhome style units with an upstairs loft, and one studio low-income unit. Enclosed garages, open parking, courtyards, private balconies, open space, a workout room, a pool and BBQ area and expectation of high rent demand for a scarce product oriented toward a younger affluent tenant base. Collect income while preparing a great developer's project in a high-demand, culturally growing cit