Montaldo Apartments

Investment Overview

Montaldo Apartments offers a rare opportunity to acquire a fully entitled, CEQA-cleared multifamily development site along the Sonoma Highway (SR-12) corridor in the City of Sonoma—one of Northern California’s most supply-constrained housing markets. The ±2.15-acre infill site is approved for 50 residential units across seven low-rise buildings, delivering high-quality two-bedroom, two-bath apartment homes with a thoughtfully planned layout, extensive landscaping, common open space, and a strong parking program that includes a high proportion of garage parking. The project incorporates a 25% affordable housing component in compliance with City of Sonoma requirements and State Density Bonus Law. All discretionary land use approvals have been secured, including Design Review, Density Bonus, Demolition approval, and Parcel Merger. The Final EIR has been certified, with a Notice of Determination filed in September 2025. PG&E gas and electric facilities have been removed, with water and sewer disconnections pending coordination with the appropriate agencies. With no discretionary approvals remaining, the site is nearly shovel-ready and offers a clear path to near-term execution in a highly constrained Sonoma housing market.

Investment Highlights

• FULLY ENTITLED PROJECT | Approved for 50 multifamily rental units across seven low-rise buildings (five three-story and two two-story) in the City of Sonoma
• CEQA-CLEARED SITE | Final Environmental Impact Report certified with Notice of Determination filed in September 2025, substantially reducing entitlement and environmental risk
• DENSITY BONUS PROGRAM | 25% affordable housing component (13 units) qualifying the project for a 32.5% density bonus and associated concessions under State Density Bonus Law
• HIGH-BARRIER MARKET | Located in one of Northern California’s most supply-constrained housing markets, characterized by limited land availability, regulatory complexity, and long-term growth controls
• STRONG PARKING PROFILE | 89 total parking spaces (68 garage, 3 carport, 18 surface), exceeding Density Bonus requirements and supporting suburban rental demand
• EXECUTION-READY OPPORTUNITY | All discretionary approvals in place; demolition approved; PG&E gas and electric removed; water and sewer disconnections pending, positioning the site for near-term building permit processing and construction