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Marin Heights 19 Merrydale Rd 18 Unit Apartment Building $5,750,000 ($319,444/Unit) 5.08% Cap Rate San Rafael, CA 94903
EXECUTIVE SUMMARY
CBRE. as exclusive listing agent, is pleased to present the opportunity to purchase 19 Merrydale Road, Marin Heights, 18 units in San Rafael made up of five (5) 1 bed 1 bath units, and six (6) 2 bed 1 bath units. Marin County’s strong rental market gives investors the chance to invest in an emerging hub for workforce spillover from San Francisco.
NDA required to be signed by all interested purchasers before marketing materials can be made available. Marin Heights is Property 8 of 14 in the “North Bay Portfolio”. CBRE, as exclusive advisor, is pleased to present the opportunity to acquire The North Bay Portfolio, a curated collection of 14 multifamily communities totaling 203 apartment units located in Marin and Sonoma Counties, CA (the Portfolio).
The North Bay Portfolio is available as a full 14 asset portfolio, sub-pools (contact CBRE for sub-pool placement) or individual asset sales. All property tours must be coordinated through CBRE listing team.
NDA required to be signed by all interested purchasers before marketing materials can be made available. Marin Heights is Property 8 of 14 in the “North Bay Portfolio”. CBRE, as exclusive advisor, is pleased to present the opportunity to acquire The North Bay Portfolio, a curated collection of 14 multifamily communities totaling 203 apartment units located in Marin and Sonoma Counties, CA (the Portfolio).
The North Bay Portfolio is available as a full 14 asset portfolio, sub-pools (contact CBRE for sub-pool placement) or individual asset sales. All property tours must be coordinated through CBRE listing team.
PROPERTY FACTS Under Contract
| Price | $5,750,000 | Building Class | C |
| Price Per Unit | $319,444 | Lot Size | 0.41 AC |
| Sale Type | Investment | Building Size | 11,568 SF |
| Cap Rate | 5.08% | Average Occupancy | 94% |
| No. Units | 18 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Apartment | Parking Ratio | 1.73/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | PCNG, San Rafael | ||
| Price | $5,750,000 |
| Price Per Unit | $319,444 |
| Sale Type | Investment |
| Cap Rate | 5.08% |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.41 AC |
| Building Size | 11,568 SF |
| Average Occupancy | 94% |
| No. Stories | 2 |
| Year Built | 1962 |
| Parking Ratio | 1.73/1,000 SF |
| Zoning | PCNG, San Rafael |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Range
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 12 | - | 575 - 650 |
| 2+1 | 6 | - | 650 - 750 |
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PROPERTY TAXES
| Parcel Number | 179-222-17 | Improvements Assessment | $4,127,627 |
| Land Assessment | $2,366,476 | Total Assessment | $6,494,103 |
PROPERTY TAXES
Parcel Number
179-222-17
Land Assessment
$2,366,476
Improvements Assessment
$4,127,627
Total Assessment
$6,494,103
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Marin Heights | 19 Merrydale Rd
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