$1,500,000

Estimated payment $9,544/month

Total Views 986
8 Beds
4 Baths
4,000 Sq Ft
$375 Price per Sq Ft

Highlights

  • Balcony
  • Fireplace
  • Tile Flooring
  • San Marin High School Rated A-
  • Enclosed Patio or Porch
  • Central Heating

About This Home

Centrally located in the heart of Downtown Novato, Third Street Apartments is a well-maintained 4-unit property featuring spacious 2-bedroom units setback on a level parcel in coveted Marin County. This midcentury gem includes exposed beam ceilings, in-unit laundry, dishwashers, covered parking, tenant storage, several fenced patios or decks, and updated electrical. Third Street Apartments offers a rare investment opportunity with strong fundamentals and substantial upside potential in a highly desirable location.

Listing Agent

Kate Raphael Smith

NORCAL COMMERCIAL License #02027825 Listed on: 09/09/2026

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1968

Lot Details

  • 7,501 Sq Ft Lot

Parking

  • 1 Car Garage
  • 3 Carport Spaces
  • On-Street Parking
  • 3 Open Parking Spaces
  • Off-Street Parking

Home Design

  • Quadruplex
  • Flat Roof Shape
  • Concrete Foundation
  • Slab Foundation
  • Wood Siding
  • Concrete Block And Stucco Construction

Interior Spaces

  • 4,000 Sq Ft Home
  • 2-Story Property
  • Fireplace

Kitchen

  • Free-Standing Gas Oven
  • Free-Standing Electric Oven
  • Free-Standing Gas Range
  • Dishwasher

Flooring

  • Carpet
  • Laminate
  • Tile

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 4 Full Bathrooms

Laundry

  • Laundry in unit
  • Washer and Dryer

Outdoor Features

  • Balcony
  • Enclosed Patio or Porch

Utilities

  • No Cooling
  • Central Heating
  • Wall Furnace

Community Details

  • 4 Units
  • Gross Income $121,452

Property Details

Home Type

Multi-Family

Year Built

Built in 1968

Lot Details

7,501 Sq Ft Lot

Parking

1

Listing Details

  • Type: Residential Income
  • Lot Size Acres: 0.1722
  • CapRate: 5.49
  • Property Sub Type: Quadruplex
  • Co List Office Mls Id: ANORCAL
  • Directions: 1041 3rd St, Novato, CA
  • Living Area: 4000
  • Power Production Type: None
  • Special Features: None

Interior Features

  • Appliances: Dishwasher, Free-Standing Electric Oven, Free-Standing Electric Range, Free-Standing Gas Oven, Free-Standing Gas Range, Free-Standing Refrigerator, Varies By Unit
  • Basement: None
  • Flooring: Carpet, Laminate, Tile
  • NumberOfBuildings: 1
  • Full Bathrooms: 4
  • Total Bedrooms: 8
  • Stories: 2

Exterior Features

  • Construction Materials: Block, Concrete, Wood Siding
  • Lot Features: Shape Regular
  • Roof: Flat
  • Patio And Porch Features: Balcony/Deck, Enclosed Patio
  • Foundation Details: Concrete, Slab

Garage/Parking

  • Parking Features: Carport, Garage, Off Street, Open, On Street
  • Carport Spaces: 3
  • Garage Spaces: 1
  • OpenParkingSpaces: 3

Utilities

  • Cooling: None
  • Sewer: Public Sewer
  • Water Source: Public
  • Heating: Central, Fireplace(s), Wall Furnace
  • Laundry Features: In Unit, Washer/Dryer Owned

Lot Info

  • Lot Size Sq Ft: 7501

Building Info

  • Year Built: 1968

Multi Family

  • NumberOfUnitsTotal: 4
  • Annual Gross Income: 121452

Map

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2026 $12,132 $713,911 $192,249 $521,662
2025 $12,132 $699,945 $188,480 $511,465
2024 $11,879 $686,253 $184,784 $501,469
2023 $11,602 $672,829 $181,161 $491,668
2022 $11,311 $659,668 $177,609 $482,059
2021 $11,292 $646,766 $174,127 $472,639
2020 $11,151 $640,155 $172,343 $467,812
2019 $10,666 $627,634 $168,963 $458,671
2018 $10,473 $615,361 $165,651 $449,710
2017 $10,255 $603,330 $162,404 $440,926
2016 $9,610 $591,533 $159,220 $432,313
2015 $9,419 $582,674 $156,829 $425,845
2014 $9,148 $571,292 $153,757 $417,535
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
09/09/2026 09/09/26 For Sale $1,500,000 -- $375 / Sq Ft
Source: Bay Area Real Estate Information Services (BAREIS)

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Type Sale Price Title Company
Grant Deed -- None Available
Grant Deed -- --
Grant Deed $152,500 Pacific Coast Title Company
Grant Deed -- Pacific Coast Title Company
Grant Deed -- --
Grant Deed -- --
Grant Deed $412,500 --
Quit Claim Deed -- --
Quit Claim Deed -- --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Loan Amount Loan Type
Previous Owner $296,000 Unknown
Source: Public Records

Source: Bay Area Real Estate Information Services (BAREIS)

MLS Number: 326076896

Bay Area Real Estate Information Services (BAREIS)

APN: 141-261-34

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