$1,850,000
SOLD AUG 4, 2025

329 Olema Rd Fairfax, CA 94930

18 Beds
-- Bath
8,568 Sq Ft
0.78 Acres

Recently Sold

$216 Per Sq Ft

18% Below List Price

10 Days on Market

Highlights

  • View of Hills
  • Deck
  • Secluded Lot
  • Manor Elementary School Rated A-
  • Contemporary Architecture
  • Enclosed Patio or Porch

About This Home

As of August 2025

An incredible Marin County investment opportunity in the unincorporated section west of Fairfax. The property is located on .78 acres (33,927 sf) of land and features three spacious side-by-side duplexes with 3BR/1.5 BA townhouse units. Each apartment is 1,428sf. They are thoughtfully designed for modern living. The property's open layout gives each building a sense of privacy and lends itself to future development, such as ADUs. Three separate parcels; however, necessary easements for driveway, parking, utilities, etc between the properties still need to be created and recorded. Buyer to confirm with the County. As Duplexes with 3 BRs are rare, the rental income for this property is generous, with units previously rented in the $4500 range. Overall, the property seems to be in good condition, however, a neighboring property caused a mudslide above the middle upper duplex. These two units remain empty and still need substantial repairs, as well as the hillside directly above. Three duplexes priced at $916,000 each with one discounted $500,000 for repairs needed. Properties being sold as a package for $2,250,000 AS IS. Experience the charm of Fairfax, known for its vibrant community, outdoor activities, and artistic spirit. Live in one or Fix and Flip.

Last Agent to Sell the Property

Michael Burke

Golden Gate Sotheby's License #00454938 Listed on: 06/20/2025

Golden Gate Sotheby's

Last Buyer's Agent

Michael Burke

Golden Gate Sotheby's License #00454938 Listed on: 06/20/2025

Golden Gate Sotheby's

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $8,613

Year Built

  • Built in 1964

Lot Details

  • 0.78 Acre Lot
  • Secluded Lot

Property Views

  • Hills
  • Park or Greenbelt

Home Design

  • Contemporary Architecture
  • Fixer Upper
  • Concrete Foundation
  • Composition Roof

Interior Spaces

  • 8,568 Sq Ft Home
  • 2-Story Property
  • Laundry in unit

Parking

  • 9 Open Parking Spaces
  • 9 Parking Spaces
  • Off-Street Parking

Outdoor Features

  • Deck
  • Enclosed Patio or Porch

Utilities

  • No Cooling
  • Central Heating
  • Individual Gas Meter

Listing and Financial Details

  • Assessor Parcel Number 174-051-30

Community Details

Overview

  • 3 Buildings
  • 6 Units

Building Details

  • Gross Income $278,400

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$8,613

Year Built

Built in 1964

Lot Details

0

Listing Details

  • Type: Residential Income
  • Property Sub Type: 5 or More Units
  • Subtype Description: Apartments
  • Directions To Property: Sir Francis Drake past downtown Fairfax. Left on Olema Road to property.
  • Lot Size Acres: 0.7789
  • CapRate: 7.60
  • Levels: Two
  • Actual or Scheduled: Scheduled
  • ArchitecturalStyle: Contemporary
  • Special Features: None

Interior Features

  • Square Footage: 8568.00
  • NumberOfBuildings: 3

Exterior Features

  • Construction Materials: Wood
  • Foundation: Concrete Perimeter
  • Lot Features: Secluded
  • Property Condition: Fixer, Varies By Unit
  • Roof: Composition
  • Patio And Porch Features: Enclosed Patio, Uncovered Deck
  • View: Garden/Greenbelt, Hills

Garage/Parking

  • Parking Features: Off Street, Uncovered
  • Total Parking Spaces: 9.00
  • OpenParkingSpaces: 9.00

Utilities

  • Cooling: None
  • Sewer: Public Sewer
  • Water Source: Public
  • Heating: Central
  • Laundry Features: In Each Unit
  • Separate Meters: Electricity, Gas

Lot Info

  • Assessor Parcel Number: 174-051-30
  • Lot Size Sq Ft: 33927.00

Building Info

  • Year Built: 1964

Multi Family

  • Three Bedroom Rent Range: $3100 - $4200
  • Number Of3 Bedrooms Occupied: 2
  • Number of 3 Bedroom Units: 6
  • NumberOfUnitsTotal: 6

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 20, 2025
Closed on
Jul 23, 2025
Sold by
Skegrud Family 2002 Trust and Skegrud Robert L
Bought by
Sun Pacific Partners Llc
Seller's Agent
Michael Burke
Golden Gate Sotheby's
Buyer's Agent
Michael Burke
Golden Gate Sotheby's
List Price
$2,250,000
Sold Price
$1,850,000
Premium/Discount to List
-$400,000
-17.78%
Views
52

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
94.43%
Original Mortgage
$853,500
Outstanding Balance
$853,500
Interest Rate
6.67%
Mortgage Type
Construction
Estimated Equity
$1,084,643
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Type Sale Price Title Company
Grant Deed $1,850,000 Old Republic Title
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $853,500 Construction
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/04/2025 08/04/25 Sold $1,850,000 -17.8% $216 / Sq Ft
06/30/2025 06/30/25 Pending -- -- --
06/20/2025 06/20/25 For Sale $2,250,000 -- $263 / 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 $8,613 $375,136 $88,042 $287,094
2024 $8,613 $367,782 $86,316 $281,466
2023 $8,454 $360,570 $84,623 $275,947
2022 $8,261 $353,501 $82,964 $270,537
2021 $8,020 $346,571 $81,338 $265,233
2020 $7,842 $343,017 $80,504 $262,513
2019 $7,415 $336,292 $78,925 $257,367
2018 $6,995 $329,699 $77,378 $252,321
2017 $6,787 $323,235 $75,861 $247,374
2016 $6,451 $316,898 $74,374 $242,524
2015 $6,319 $312,139 $73,257 $238,882
2014 $6,023 $306,026 $71,822 $234,204
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Bay Area Real Estate Information Services (BAREIS)

MLS Number: 325057485

Bay Area Real Estate Information Services (BAREIS)

APN: 174-051-30