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1512--1516 San Anselmo Ave 6 Unit Apartment Building $1,950,000 ($325,000/Unit) 5.21% Cap Rate San Anselmo, CA 94960
Investment Highlights
- Popular Central Marin County location in San Anselmo
- Abundant natural light with lush greenery surrounding the property
- Walk to downtown shops and restaurants
- Individual heating and air conditioning units
- Nearby hiking and biking trail heads
- Off street parking for 7 vehicles
Executive Summary
Charming multifamily with a 4 plex and duplex on a single lot near both downtown San Anselmo and nearby Fairfax in Marin County. Located on a flat lot with 7 off street parking spaces the property includes brand new mini split HVAC units with heat and air conditioning in each one-bedroom apartment. Units include hardwood floors, lots of closet space, in unit water heaters, excellent natural light and hill views from some units. Kitchens and baths could use updating to maximize current rents, but building runs full throughout the year. The property operating costs are low as each tenant has a water, gas and electric meter and owner pays only taxes, garbage, insurance and maintenance.
With renovation of kitchens and bathrooms scheduled income could increase cap rate to over 7%. Don't miss this exciting value add opportunity in one of Marin County's most coveted communities!
With renovation of kitchens and bathrooms scheduled income could increase cap rate to over 7%. Don't miss this exciting value add opportunity in one of Marin County's most coveted communities!
Property Facts
| Price | $1,950,000 | Apartment Style | Low-Rise |
| Price Per Unit | $325,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.33 AC |
| Cap Rate | 5.21% | Building Size | 3,380 SF |
| Gross Rent Multiplier | 12.87 | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1952 |
| Property Subtype | Apartment | Parking Ratio | 2.07/1,000 SF |
| Zoning | R3 - Multifamily | ||
| Price | $1,950,000 |
| Price Per Unit | $325,000 |
| Sale Type | Investment |
| Cap Rate | 5.21% |
| Gross Rent Multiplier | 12.87 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.33 AC |
| Building Size | 3,380 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1952 |
| Parking Ratio | 2.07/1,000 SF |
| Zoning | R3 - Multifamily |
Amenities
Unit Amenities
- Cable Ready
- Storage Space
- Washer/Dryer
- Heating
- Ceiling Fans
- Kitchen
- Hardwood Floors
- High Speed Internet Access
- Refrigerator
- Oven
- Range
- Tub/Shower
- Views
- Patio
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $2,120 | - |
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Fairly walkable
40/100
Moderately drivable
70/100
Limited public transit
20/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 007-015-11 | Improvements Assessment | $563,722 |
| Land Assessment | $651,690 | Total Assessment | $1,215,412 |
Property Taxes
Parcel Number
007-015-11
Land Assessment
$651,690
Improvements Assessment
$563,722
Total Assessment
$1,215,412
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1512--1516 San Anselmo Ave