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1485-1495 Lincoln Ave 10 Unit Apartment Building $3,000,000 ($300,000/Unit) San Rafael, CA 94901
EXECUTIVE SUMMARY
Newmark, as exclusive advisor, is pleased to present the opportunity to purchase the fee simple interest in the 10-unit, ±1.13-acre apartment property located
at 1485-1495 Lincoln Avenue in San Rafael, California. This well located infill property features incredible walkability, access to transit and proximity to U.S. Highway 101 in one of the most coveted and supply-constrained locations in the Bay Area.
The property currently contains 10 apartment units within three standalone buildings, with access to the property via two signalized curb cuts at Lincoln Avenue. The property is zoned HR1 (Multifamily Residential District) in the City of San Rafael, with a General Plan Land Use Designation of HDR (High Density Residential) allowing for a base density potential of up ±49 residential units (non-inclusive of any applicable State Density Bonus).
at 1485-1495 Lincoln Avenue in San Rafael, California. This well located infill property features incredible walkability, access to transit and proximity to U.S. Highway 101 in one of the most coveted and supply-constrained locations in the Bay Area.
The property currently contains 10 apartment units within three standalone buildings, with access to the property via two signalized curb cuts at Lincoln Avenue. The property is zoned HR1 (Multifamily Residential District) in the City of San Rafael, with a General Plan Land Use Designation of HDR (High Density Residential) allowing for a base density potential of up ±49 residential units (non-inclusive of any applicable State Density Bonus).
PROPERTY FACTS
| Price | $3,000,000 | Building Class | C |
| Price Per Unit | $300,000 | Lot Size | 1.13 AC |
| Sale Type | Investment | Building Size | 12,098 SF |
| Sale Condition | Redevelopment Project | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1949 |
| Property Subtype | Apartment | Parking Ratio | 0.99/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | HR1 - Zoning: HR1 (Multifamily Residential District) General Plan: HDR (High Density Residential) Jurisdiction: City of San Rafael | ||
| Price | $3,000,000 |
| Price Per Unit | $300,000 |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.13 AC |
| Building Size | 12,098 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1949 |
| Parking Ratio | 0.99/1,000 SF |
| Zoning | HR1 - Zoning: HR1 (Multifamily Residential District) General Plan: HDR (High Density Residential) Jurisdiction: City of San Rafael |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | - | 780 - 1,372 |
| Studios | 1 | - | 608 |
| 2+1 | 1 | - | 1,128 |
Walk Score®
Very Walkable (72)
PROPERTY TAXES
| Parcel Number | 011-092-21 | Improvements Assessment | $945,992 |
| Land Assessment | $1,150,486 | Total Assessment | $2,096,478 |
PROPERTY TAXES
Parcel Number
011-092-21
Land Assessment
$1,150,486
Improvements Assessment
$945,992
Total Assessment
$2,096,478
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1485-1495 Lincoln Ave
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