$1,747,000
$152K PRICE INCREASE

11 Commodore Marina Mill Valley, CA 94941

Estimated payment $10,945/month

Total Views 13,576
-- 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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Value Increase
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Percent Increase
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Adjusted for Inflation
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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 List to Sale Price per Sq Ft
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

For Sale

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