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Ignacio Pines 195 Los Robles Rd 39 Unit Apartment Building $16,495,000 ($422,949/Unit) 6.94% Cap Rate Novato, CA 94949
INVESTMENT HIGHLIGHTS
- Countless Improvements, Featuring: New Roofs, Upgraded Plumbing, Recently-Replaced Water Mains, Storm Drains, New Windows, and Current Seismic Upgrade
- 2:1 Off-Street Parking Ratio, Onsite Coin-Operated Laundry, Fully-Functional Elevator, Private Courtyard and a Community Pool
- Delivered 100% Occupied by Stable Tenants Paying Close to Market Rate, with No Delinquencies
- Extensive Unit Renovations Completed in 2017, Including Updated Kitchens & Bathrooms, Hardwood Cabinetry, and Large Private Decks
- 35,346 SF of Rentable Space Set on a Massive 1.04 Acre Parcel - Boasting Lush, Mature Landscaping & Ample Storage Space Currently Leased to Tenants
EXECUTIVE SUMMARY
The Pinza Group, Inc. is pleased to present Ignacio Pines Apartments, an exceptionally well-maintained 39 unit multifamily property offering a prime location in Novato, CA. Comprised of two (2) three-story structures, the buildings feature an ideal unit mix of (33) 2bd/1bth, (3) 2bd/2bth, and (3) 1bd/1bth units. 195 Los Robles Road contains 35,346 SF of rentable space set on over an acre of land, boasting 78 off-street parking stalls, onsite coin-operated laundry, meticulously-maintained common areas, and an elevator for convenient tenant access. Current ownership has invested in substantial capital improvements, including: recently-replaced roof(s), upgraded plumbing fixtures, a well-maintained community pool, new storm drains, windows, and various unit renovations throughout.
195 Los Robles Road will be delivered 100% occupied by stable tenants paying close to market rate, allowing future ownership to take advantage of tenant turnover, annual adjustments, and utility passthroughs in order to maximize return on investment. Additionally, prospective investors have the option to take advantage of an assumable loan option with excellent terms. Ignacio Pines offers a prime location to residents, with close proximity to restaurants, retail shopping outlets, commute options such as U.S. Route 101, and just a short drive to San Pablo Bay.
195 Los Robles Road will be delivered 100% occupied by stable tenants paying close to market rate, allowing future ownership to take advantage of tenant turnover, annual adjustments, and utility passthroughs in order to maximize return on investment. Additionally, prospective investors have the option to take advantage of an assumable loan option with excellent terms. Ignacio Pines offers a prime location to residents, with close proximity to restaurants, retail shopping outlets, commute options such as U.S. Route 101, and just a short drive to San Pablo Bay.
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Balcony
- Cable Ready
- Dishwasher
- Fireplace
- High Speed Internet Access
- Refrigerator
- Oven
- Range
- Walk-In Closets
- Patio
- Smoke Free
SITE AMENITIES
- Courtyard
- Laundry Facilities
- Picnic Area
- Playground
- Pool
- Recycling
- Smoke Free
- Storage Space
- Elevator
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 3 | - | 600 - 826 |
| 2+1 | 33 | - | 854 - 1,008 |
| 2+2 | 3 | - | 951 |
PROPERTY TAXES
| Parcel Number | 160-302-30 | Improvements Assessment | $13,397,586 |
| Land Assessment | $3,845,958 | Total Assessment | $17,243,544 |
PROPERTY TAXES
Parcel Number
160-302-30
Land Assessment
$3,845,958
Improvements Assessment
$13,397,586
Total Assessment
$17,243,544
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Ignacio Pines | 195 Los Robles Rd
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