1024 Redwood Hwy Frontage Rd
Mill Valley, CA 94941
Multifamily Property For Sale · 8 Units

Listed and for sale for the first time in more than five decades the subject property was designed, built, and owned for the last 53 years by the original developer who was an architect by trade. The original developer built this apartment complex for himself, with the plan on holding forever, and he thus integrated superior and well thought out design. The property is perfectly located to take advantage of the great Mill Valley schools, allows an easy commute for tenants, and gives renters the benefit of nearby shopping and commerce. The owner has self-managed the complex and the tenants have been carefully screened and hand selected such that the building benefits from stable, responsible tenants. The subject property is constructed of wood frame, with pitched roofs, and individual walk-up front doors. All eight apartments are townhouse style units with six two-bedroom/one-bath units and two three-bedroom/one-bath units (the end units #1 and #8 are the three-bedroom units). Each unit enjoys a dishwasher, electric stove, frost free-refrigerator, electric wall heater, and individual hot water heater. A private and spacious patio to the rear of each unit is accessed via. sliding glass doors, and each tenant is assigned two dedicated parking space. The property features circuit breakers with each unit separately metered for PG&E, and there are three storage closets currently used by the owner. One of these closets could potentially be converted for washer / dryer hook-ups which would add further convenience and income to the offering. This offering provides a new buyer with the opportunity to acquire a well-kept, 100% occupied property, in a very supply constrained market with huge barriers to entry. Many tenants seek out the A+ location specifically for the good school district, and the proximity to major employment centers and downtown San Francisco serves to further augment the extremely strong rental demand. With longer term tenants, and low rents, the offering should allow great opportunity for a new buyer to more proactively manage the property such that they may benefit from a steadily increasing cash flow. Contact the exclusive listing agent, Jon Holmquist, for additional information and the complete offering memorandum.