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Listed by Jefrey Henderson • Jefrey Henderson, Broker
$ 2,800,000
Est. payment | /mo
3 Beds
2 Baths
8,568 SqFt
$ 2,800,000
Est. payment | /mo
3 Beds
2 Baths
8,568 SqFt
Key Details
Property Type Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 8,568 sqft
Price per Sqft $326
MLS Listing ID ML82001888
Bedrooms 3
Full Baths 2
Year Built 1971
Lot Size 0.456 Acres
Property Sub-Type Five or More Units
Property Description
16 Marian Court Apartments (the Property) comprised of 11 market rate units in San Rafael, California. Comprised of (7) 1 Bedroom, 1 Bathroom floorplans, and (4) 2 Bedroom, 1 Bathroom floorplans. This property is the ideal location and mix for the target demographic. In-place rents are nearly $500 below market rents and an additional $250+ in renovation premiums allowing for a value-add investor to stabilize at a 6.18% cap rate.
Location
State CA
County Marin
Area San Rafael
Interior
Heating Central Forced Air
Cooling None
Exterior
Parking Features Assigned Spaces
Utilities Available Individual Electric Meters
Roof Type Flat / Low Pitch
Building
Foundation Crawl Space
Sewer Sewer - Private
Water Individual Water Meter
Others
Restrictions None
Tax ID 017-262-11
Security Features None
Special Listing Condition Not Applicable
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Kalani Stone
Agent | Lic# CalBRE: 01336392