Log In/Sign Up
Your email has been sent.
1048 7th Street 1048 7th St 4 Unit Apartment Building $1,600,000 ($400,000/Unit) 6.58% Cap Rate Novato, CA 94945
Investment Highlights
- Four townhouse-style apartments, each featuring two bedrooms, 1.5 baths, and private backyards.
- Dedicated off-street parking for eight vehicles, including carport and open spaces.
- Strong in-place income with approximately $140,400 in annual scheduled rents and a 6.6% cap rate.
- Individual laundry rooms in every unit for added tenant convenience.
- Well-maintained structure built in 1979 on a level 7,487 SF lot with a concrete perimeter foundation.
- Prime Novato location near downtown conveniences, US 101 access, and nearby retail and dining options.
Executive Summary
Four 2BR/1.5 BA Townhouse apartments on a level lot near downtown Novato, but just far enough away. Located in the desirable far west side of the downtown area.
All apartments feature individual laundry rooms and a private fenced in back yard area. Ample off-street parking with each apartment having two spaces – one carport and one open.
The property was built in 1979 and has been well cared for since. Wood frame two story construction on a concrete perimeter foundation with a composition roof.
There is a shared easement driveway with the building next door, which is also available for sale.
All apartments feature individual laundry rooms and a private fenced in back yard area. Ample off-street parking with each apartment having two spaces – one carport and one open.
The property was built in 1979 and has been well cared for since. Wood frame two story construction on a concrete perimeter foundation with a composition roof.
There is a shared easement driveway with the building next door, which is also available for sale.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$140,400
|
$35.06
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$140,400
|
$35.06
|
| Taxes |
-
|
-
|
| Operating Expenses |
$35,100
|
$8.77
|
| Total Expenses |
$35,100
|
$8.77
|
| Net Operating Income |
-
|
-
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $140,400 |
| Annual Per SF | $35.06 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $140,400 |
| Annual Per SF | $35.06 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | $35,100 |
| Annual Per SF | $8.77 |
| Total Expenses | |
|---|---|
| Annual | $35,100 |
| Annual Per SF | $8.77 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $1,600,000 | Property Subtype | Apartment |
| Price Per Unit | $400,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 6.58% | Building Size | 4,004 SF |
| Gross Rent Multiplier | 11.4 | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1979 |
| Price | $1,600,000 |
| Price Per Unit | $400,000 |
| Sale Type | Investment |
| Cap Rate | 6.58% |
| Gross Rent Multiplier | 11.4 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 4,004 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1979 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 4 | $2,750 | 1,001 |
1 1
Fairly walkable
50/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 141-251-31 | Improvements Assessment | $456,575 (2025) |
| Land Assessment | $162,491 (2025) | Total Assessment | $619,066 (2025) |
Property Taxes
Parcel Number
141-251-31
Land Assessment
$162,491 (2025)
Improvements Assessment
$456,575 (2025)
Total Assessment
$619,066 (2025)
1 of 11
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
1048 7th Street | 1048 7th St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.