Kim Fahy
Martinelli Real Estate Inc
(707) 608-6551
59 Total Sales
1 in Central Novato
$1,330,000 Price
1129 3rd St Novato, CA 94945
Central Novato Neighborhood
8
Beds
20
Baths
3,728
Sq Ft
7,501
Sq Ft Lot
Highlights
- Garden
- Central Heating and Cooling System
- Laundry Facilities
- San Marin High School Rated A-
About This Home
As of January 2023Massive rental upside, estimated at 94% above current rents. 1129 3rd Street is a rarely available four-unit multifamily property located in downtown Novato, just 1.5 blocks from Grant Avenue. The property consists entirely of 2-bedroom, 1.5-bathroom townhouse-style units. Each unit has a private patio, a dedicated carport parking spot, and an exterior storage closet. These home-like units cater to long-term tenants who appreciate the immediate proximity to the amenities of Novato's thriving downtown, including dining, shopping, and employment opportunities. The current tenants have all been calling the property home for eight or more years. In-place rents at the property are almost 50% below what are believed to be market rents, offering the potential of significant upside to a new owner. Once stabilized at market rents, 1129 3rd Street should provide above market cash flow and an opportunity for significant appreciation due to it's excellent location in Downtown Novato, where only one other fourplex has been sold in the past five years.
Last Agent to Sell the Property
Marcus & Millichap Real Estate License #01421403 Listed on: 10/06/2022
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Townhouse Details
Home Type
- Townhome
Year Built
- Built in 1973
Lot Details
- 7,501 Sq Ft Lot
- Garden
Interior Spaces
- 8 Bedrooms
- 3,728 Sq Ft Home
- 2-Story Property
- Leased Washer and Dryer
Parking
- 2 Open Parking Spaces
- 6 Parking Spaces
- 4 Carport Spaces
Utilities
- Central Heating and Cooling System
Community Details
- 4 Units
- Laundry Facilities
- Gross Income $66,780
Listing and Financial Details
- Assessor Parcel Number 141-241-22
Ownership 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
Name
Owned For
Owner Type
Purchase Details
Listed on
Oct 6, 2022
Closed on
Jan 26, 2023
Sold by
Bought by
Seller's Agent
John Garrett
Marcus & Millichap Real Estate
Buyer's Agent
Ben Faber
Compass
List Price
$1,500,000
Sold Price
$1,350,000
Premium/Discount to List
-$150,000
-10%
Views
26
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$945,000
Outstanding Balance
$898,462
Interest Rate
5.5%
Mortgage Type
New Conventional
Purchase Details
Closed on
Dec 3, 2021
Sold by
Bought by
Purchase Details
Closed on
Jul 2, 2019
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,375,000
Interest Rate
3.82%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Jul 6, 2017
Sold by
Bought by
Purchase Details
Closed on
Feb 21, 2003
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$485,000
Interest Rate
5.93%
Purchase Details
Closed on
Feb 6, 2003
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$485,000
Interest Rate
5.93%
Purchase Details
Closed on
Mar 6, 2002
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$480,000
Interest Rate
6.99%
Purchase Details
Closed on
Oct 9, 2000
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$476,000
Interest Rate
7.96%
Purchase Details
Closed on
Aug 25, 1998
Sold by
Bought by
Purchase Details
Closed on
Jun 29, 1998
Sold by
Bought by
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Central Novato, CA
-
Kim Fahy
-
Garrett Burdick
Garrett Burdick
Coldwell Banker Realty
(650) 540-3474
28 Total Sales
1 in Central Novato
$3,500,000 Price
-
Michael Wayne Jackson
Michael Wayne Jackson
Coldwell Banker Realty
(628) 336-1347
52 Total Sales
1 in Central Novato
$626,000 Price
-
Rose Capurro
Rose Capurro
Coldwell Banker Realty
(562) 600-6094
41 Total Sales
2 in Central Novato
$929K - $1.1M Price Range
-
Andy Falk
Andy Falk
Coldwell Banker Realty
(628) 240-0187
61 Total Sales
1 in Central Novato
$795,000 Price
-
Kevin Kearney
Kevin Kearney
Coldwell Banker Realty
(510) 988-5385
41 Total Sales
2 in Central Novato
$575K - $1.9M Price Range
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 | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $1,350,000 | Old Republic Title | ||
| -- | Old Republic Title | ||
| $1,557,000 | Cal Land Title Company | ||
| -- | None Available | ||
| -- | Old Republic Title Co | ||
| -- | Old Republic Title Company | ||
| -- | Old Republic Title Company | ||
| -- | -- | ||
| $680,000 | Old Republic Title Company | ||
| -- | Old Republic Title Company | ||
| -- | -- |
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 | Borrower | Loan Amount |
|---|---|---|---|
| Open | $945,000 | ||
| Previous Owner | $1,375,000 | ||
| Previous Owner | $485,000 | ||
| Previous Owner | $480,000 | ||
| Previous Owner | $476,000 |
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 |
|---|---|---|---|---|
| 01/26/2023 01/26/23 | Sold | $1,350,000 | -10.0% | $362 / Sq Ft |
| 12/27/2022 12/27/22 | Pending | -- | -- | -- |
| 10/06/2022 10/06/22 | For Sale | $1,500,000 | -- | $402 / Sq Ft |
Source: Bay Area Real Estate Information Services (BAREIS)
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 | $19,986 | $1,432,522 | $640,328 | $792,194 |
| 2025 | $19,986 | $1,404,475 | $627,777 | $776,698 |
| 2024 | $19,627 | $1,376,968 | $615,468 | $761,500 |
| 2023 | $22,514 | $1,642,168 | $459,000 | $1,183,168 |
| 2022 | $20,535 | $1,610,000 | $450,000 | $1,160,000 |
| 2021 | $20,456 | $1,572,709 | $808,288 | $764,421 |
| 2020 | $20,126 | $1,556,600 | $800,000 | $756,600 |
| 2019 | $12,606 | $920,089 | $317,419 | $602,670 |
| 2018 | $12,416 | $902,082 | $311,196 | $590,886 |
| 2017 | $12,189 | $884,429 | $305,095 | $579,334 |
| 2016 | $11,340 | $867,124 | $299,115 | $568,009 |
| 2015 | $11,151 | $854,129 | $294,624 | $559,505 |
| 2014 | $10,908 | $837,434 | $288,854 | $548,580 |
Source: Public Records
Agents Affiliated with this Home
-
John Garrett
Seller's Agent in 2023
John Garrett
Marcus & Millichap Real Estate
(415) 963-3000
2 in this area
18 Total Sales
-
Ben Faber
Buyer's Agent in 2023
Ben Faber
Compass
(415) 686-4980
10 in this area
239 Total Sales
Map
Source: Bay Area Real Estate Information Services (BAREIS)
MLS Number: 322091194
APN: 141-241-22
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
Listing information deemed reliable but not guaranteed. Copyright 2026 Bay Area Real Estate Information Services, Inc. All Right Reserved.
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