$1,747,000
$152K PRICE INCREASE

11 Commodore Marina Mill Valley, CA 94941

Estimated payment $11,192/month

Total Views 9,537
-- Bed
-- Bath
1,387 Sq Ft
$1,260 Price per Sq Ft

Highlights

  • Property is near an ocean
  • Deck
  • Radiant Floor
  • Tamalpais High School Rated A
  • Property is near a park
  • Furnished

About This Home

This completely remodeled 4-Unit Houseboat has been approved by the Commodore Marina as a short-term rental since September of 2022. All units have consistently maintained occupancy rates over 80%. Gross rental income in 2024 was $415,030, making the GRM just 4.21 years at the bidding start price, The NOI was $255,281, making the Cap Rate 14.6%.Each unit features a raised platform bed to overlook open water views, a full kitchen including a stacking washer/dryer, a full bath with heated floors and a private outside deck area. There is also over 1000 sq. ft. of climate-controlled storage in the barge below decks with a commercial washer/dryer to allow for quick rental change overs

Listing Agent

Robert Warner

eXp Realty of Greater Los Angeles, Inc. License #02093031 Listed on: 06/10/2025

eXp Realty of Greater Los Angeles, Inc.

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1967

Lot Details

  • Back Yard Fenced
  • Property is in excellent condition

Interior Spaces

  • 1,387 Sq Ft Home
  • 2-Story Property
  • Furnished

Kitchen

  • Built-In Oven
  • Stove
  • Microwave
  • Dishwasher
  • Disposal

Flooring

  • Wood
  • Radiant Floor
  • Tile
  • Vinyl Plank

Laundry

  • Laundry Room
  • Dryer
  • Washer

Home Security

  • Fire and Smoke Detector
  • Fire Sprinkler System

Parking

  • 4 Open Parking Spaces
  • 4 Parking Spaces
  • On-Street Parking

Eco-Friendly Details

  • Solar Heating System

Outdoor Features

  • Property is near an ocean
  • Deck

Location

  • Property is near a park
  • Property is near public transit
  • Property is near schools
  • Property is near shops
  • Property is near a bus stop

Schools

  • See Remarks Elementary And Middle School
  • See Remarks High School

Utilities

  • Cooling Available
  • Heating Available
  • Cable TV Available

Listing and Financial Details

  • Assessor Parcel Number 901-100-11
  • Seller Considering Concessions

Community Details

Overview

  • 4 Units

Pet Policy

  • Pets Allowed

Building Details

  • Electric Expense $425
  • Insurance Expense $417
  • Licenses Expense $790
  • Maintenance Expense $516
  • New Taxes Expense $767
  • Gross Income $415,030
  • Net Operating Income $255,281

Property Details

Home Type

Multi-Family

Year Built

Built in 1967

Lot Details

0

Listing Details

  • Prop. Type: ResidentialIncome
  • Year Built: 1967
  • Income Expenses Annual Income: 415030.0
  • Capitalization Rate: 14.6
  • Income Expenses Electric Expense: 425.0
  • Gross Rent Multiplier: 4.21
  • Income Expenses Licenses: 790.0
  • Maintenance Expense: 516.0
  • Monthly Expense: 5570.0
  • Meters Sep Meter Elec: Y
  • Miscellaneous Parking Spaces: 4.0
  • Building Stories: 2
  • ResoLaundryFeatures: Laundry Room, In Unit
  • ResoLotFeatures: Near Public Transit
  • ResoSecurityFeatures: Smoke Detector(s)
  • Income And Expenses Maintenance Expense: 516.0
  • Reso Flooring: Tile, Wood/Laminate
  • New Construction: No
  • Reso Property Condition: Excellent
  • Property Information Year Built2: 1967
  • NeighborhoodSchools Elementary School: See Remarks
  • NeighborhoodSchools Junior High School: See Remarks
  • NeighborhoodSchools High School: See Remarks
  • Condo:Laundry in Unit: Yes
  • Parking Info Uncovered: Yes
  • Parking Info Total # Unconvered Spaces: 4.0
  • Condition Excellent: Yes
  • Proximity Near Ocean2: Yes
  • Proximity Near Park(s)2: Yes
  • Proximity Near School(s)2: Yes
  • Laundry Laundry Room2: Yes
  • Security Smoke Detector(s)2: Yes
  • FlrWdw Coverings Tile3: Yes
  • Property Information Main House SqFt: 1387.0
  • Proximity Near Shopping2: Yes
  • Proximity Near Bus: Yes
  • FlrWdw Coverings WoodLaminate2: Yes
  • Pets Yes: Yes
  • General Property Information Stories2: 2.0
  • Amenities Deck2: Yes
  • Amenities Dishwasher2: Yes
  • Amenities Disposal2: Yes
  • Amenities Microwave2: Yes
  • Amenities Washer2: Yes
  • Amenities Dryer2: Yes
  • Amenities Fncd Back: Yes
  • Amenities Fire Spkl: Yes
  • IncomeExpenses Taxes6: 767.0
  • Amenities Elec Stove: Yes
  • HeatingCooling Elec: Yes
  • HeatingCooling Radiant Flooring: Yes
  • Amenities OvensBltin: Yes
  • HeatingCooling Solar3: Yes
  • IncomeExpenses NOI2: 255281
  • Parking Info Street: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Exterior Features

  • Foundation Details: Other

Garage/Parking

  • Open Parking Spaces: 4.0
  • Parking Features: Uncovered, Street
  • Total Parking Spaces: 4.0

Utilities

  • Heating: Radiant Flooring, Solar, Elec
  • HeatingYN: Yes

Association/Amenities

  • Association Amenities:Cable TV: Yes

Schools

  • Elementary School: See Remarks
  • High School: See Remarks
  • Middle Or Junior School: See Remarks

Lot Info

  • Parcel #: 901-100-11
  • Zoning: C-M

Rental Info

  • Owner Pays: Water

Multi Family

  • Number Of Units Total: 4
  • Electric Expense: 425.0
  • Annual Gross Income: 415030.0
  • Insurance Expense: 417.0

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/10/2025 06/10/25 For Sale $1,747,000 0.0% $1,260 / Sq Ft
04/28/2025 04/28/25 Pending -- -- --
04/03/2025 04/03/25 Price Changed $1,747,000 -7.8% $1,260 / Sq Ft
04/02/2025 04/02/25 Price Changed $1,895,000 +18.8% $1,366 / Sq Ft
02/28/2025 02/28/25 For Sale $1,595,000 -- $1,150 / Sq Ft
Source: Santa Barbara Multiple Listing Service

Source: Santa Barbara Multiple Listing Service

MLS Number: 25-877

Santa Barbara Multiple Listing Service
California Mill Valley 94941

11 Commodore Marina, Mill Valley, CA

This home is located at 11 Commodore Marina, Mill Valley, CA 94941 and is currently priced at $1,747,000, approximately $1,259 per square foot. This property was built in 1967. 11 Commodore Marina is a home with nearby schools including Dr. Martin Luther King, Jr. Academy - Nevada Campus and Tamalpais High School.

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Listing Agent
Robert Warner
Section Image
eXp Realty of Greater Los Angeles, Inc.
(415) 969-7725