NOT LISTED FOR SALE
3 Beds
3 Baths
5,025 Sq Ft
6,865 Sq Ft Lot

Last Sold September 21, 2023

Last sale price $3,900,000 $776 Per Sq Ft

178 Days on Market

Highlights

  • City View
  • Wood Flooring
  • Zoned Heating and Cooling
  • Sun Valley Elementary School Rated A-

About This Home

As of September 2023

Property is located on a 7,000 square foot lot, condominium-like site that has been completely rehabilitated to provide residents with a private, luxury environment unrivaled by any other boutique sized apartment community in San Rafael. Comprised of four two-bedrooms/two-bath and two one-bedroom/one-bath units, this com-plex offers a variety of different benefits for tenants such as close proximity to highway 101, which is a short twenty-minute drive directly to San Francisco. In addition, the two-bedroom units feature a den, which could be a perfect set up for an in-home office. In addition, all units have private storage units, individual water heaters, central air conditioning and private covered parking spaces. Finally, the building was completely remodeled in 2020, including all mechanicals and a new roof. The complex features upscale and spacious floor plans with in-unit washer/dryers. This is a rare opportunity for an investor to own an excellent, fully remodeled, six-unit multifamily property in one of Marin County's strongest rental markets.

Last Agent to Sell the Property

Erich Reichenbach

Marcus & Millichap Real Estate License #01860626 Listed on: 03/27/2023

Last Buyer's Agent

Phillip Batlin

Marcus & Millichap License #01873218

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1965

Lot Details

  • 6,865 Sq Ft Lot

Property Views

  • City
  • Mount Tamalpais

Home Design

  • Concrete Foundation
  • Composition Roof

Interior Spaces

  • 3 Bedrooms
  • 5,025 Sq Ft Home
  • 2-Story Property
  • Dishwasher
  • Laundry in unit

Flooring

  • Wood
  • Tile

Parking

  • 8 Parking Spaces
  • 6 Covered Spaces
  • Covered Parking
  • Off-Street Parking

Utilities

  • Zoned Heating and Cooling
  • Individual Gas Meter

Community Details

  • 6 Units
  • Gross Income $225,600

Listing and Financial Details

  • Assessor Parcel Number 012-172-26

Property Details

Home Type

Multi-Family

Year Built

Built in 1965

Lot Details

0

Listing Details

  • Type: Residential Income
  • Property Sub Type: 5 or More Units
  • Subtype Description: Apartments
  • Directions To Property: Marin Street to Ross Street
  • Lot Size Acres: 0.1576
  • Stories: 2
  • CapRate: 3.72
  • Actual or Scheduled: Actual
  • Special Features: None

Interior Features

  • Appliances: Dishwasher
  • Flooring: Tile, Wood
  • Price Per Square Foot: 776.12
  • Square Footage: 5025.00
  • NumberOfBuildings: 1

Exterior Features

  • Foundation: Concrete Perimeter
  • Lot Features: Shape Regular, Sidewalk
  • Roof: Composition, See Remarks
  • View: City, Mt Tamalpais

Garage/Parking

  • Parking Features: Covered, Off Street
  • Total Parking Spaces: 8.00
  • Covered Parking Spaces: 6.00

Utilities

  • Cooling: Individual, MultiZone
  • Sewer: Public Sewer
  • Utilities: City
  • Water Source: Public
  • Heating: Central
  • Laundry Features: In Each Unit
  • Separate Meters: Electricity, Gas

Lot Info

  • Assessor Parcel Number: 012-172-26
  • Lot Size Sq Ft: 6865.00

Building Info

  • Year Built: 1965

Multi Family

  • One Bedroom Annual Occupancy: 100
  • 1 Bedroom Rent Range: 2700
  • Two Bedroom Annual Occupancy: 100
  • Two Bedroom Rent Range: 3250-3500
  • Number Of1 Bedrooms Occupied: 2
  • Number of 1 Bedroom Units: 2
  • Number Of2 Bedrooms Occupied: 4
  • NumberOfUnitsTotal: 6

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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Sold Price
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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
09/21/2023 09/21/23 Sold $3,900,000 -4.8% $776 / Sq Ft
03/27/2023 03/27/23 For Sale $4,095,000 -- $815 / Sq Ft
Source: Bay Area Real Estate Information Services (BAREIS)

Tax History Compared to Growth

Source: Public Records

Tax History

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
2025 $56,804 $3,977,952 $1,530,000 $2,447,952
2024 $55,437 $3,900,000 $1,500,000 $2,400,000
2023 $54,022 $3,797,363 $1,430,550 $2,366,813
2022 $51,125 $3,722,952 $1,402,500 $2,320,452
2021 $50,365 $3,650,000 $1,375,000 $2,275,000
2020 $30,990 $1,988,952 $867,000 $1,121,952
2019 $23,870 $1,427,380 $506,325 $921,055
2018 $23,693 $1,399,446 $496,399 $903,047
2017 $22,962 $1,372,061 $486,669 $885,392
2016 $22,227 $1,345,213 $477,129 $868,084
2015 $21,274 $1,325,051 $469,965 $855,086
2014 $20,282 $1,299,147 $460,761 $838,386
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Bay Area Real Estate Information Services (BAREIS)

MLS Number: 323018233

Bay Area Real Estate Information Services (BAREIS)

APN: 012-172-26