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$2,900,000
Est. payment /mo
0.88 Acres Lot
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Subdivision Not Listed
MLS Listing ID 41127432
HOA Y/N No
Year Built 1948
Lot Size 0.877 Acres
Property Description
Rare investment opportunity in the heart of San Rafael, Marin County, one of California's most supply-constrained rental markets. This exceptional 17-bedroom, 9-bath income property sits on 1.66 acres across two parcels with pro forma gross rental income potential of $296,400/year. The property features a main structure with 16 bedrooms and 8 baths operating on a room-by-room rental model, 14 standard rooms at $1,300/mo and 2 premium rooms at $2,000/mo, plus a fully detached 1BD/1BA private residence with a market rent of $2,500/mo. Pro forma owner-managed NOI of approximately $185,888/year supports the $2,900,000 asking price at a 6.41% projected cap rate. All figures are pro forma projections based on market rents; buyer to verify.
Location
State CA
County Marin
Zoning R-20
Interior
Heating None
Flooring Laminate
Fireplace No
Appliance Dryer, Washer
Exterior
Parking Features Garage
Roof Type Shingle
Total Parking Spaces 6
Building
Lot Description Back Yard, Front Yard, Yard
Sewer Public Sewer
Others
Tax ID 17529241
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Listed by Preet Ballagan KW Advisors #02125828
NEARBY SCHOOL & BUSINESS
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