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390 Woodland Apartments 390-406 Woodland Ave 8 Unit Apartment Building $2,250,000 ($281,250/Unit) 5.50% Cap Rate San Rafael, CA 94901
Investment Highlights
- Value-Add Upside
- Premier Marin County Location
- Below Market In-Place Rents
- 5.50 % In-Place Cap Rate | 6.20% Proforma Cap Rate
Executive Summary
390 Woodland Apartments (the Property) is an 8-unit multifamily asset in San Rafael, comprised of four (4) studio and four (4) one bedroom floorplans totaling approximately 4,316 rentable square feet. The compact, efficient unit mix targets the submarket’s entry-level and single-renter demand.
Beyond its in-place cash flow, the Property offers a rare combination of location and upside. San Rafael, the heart of a supply-constrained and highly desirable Marin County market, drives durable demand for efficient studio and one-bedroom units, give an incoming owner a clear path to reset rents to market and lift income over the near term.
Beyond its in-place cash flow, the Property offers a rare combination of location and upside. San Rafael, the heart of a supply-constrained and highly desirable Marin County market, drives durable demand for efficient studio and one-bedroom units, give an incoming owner a clear path to reset rents to market and lift income over the near term.
Property Facts
| Price | $2,250,000 | Apartment Style | Low-Rise |
| Price Per Unit | $281,250 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 5.50% | Building Size | 4,853 SF |
| Gross Rent Multiplier | 10.76 | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1947 |
| Property Subtype | Apartment | Parking Ratio | 0.86/1,000 SF |
| Zoning | N/Av, San Rafael | ||
| Price | $2,250,000 |
| Price Per Unit | $281,250 |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| Gross Rent Multiplier | 10.76 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 4,853 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1947 |
| Parking Ratio | 0.86/1,000 SF |
| Zoning | N/Av, San Rafael |
Amenities
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | - | 481 |
| 1+1 | 4 | - | 598 |
Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
40/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 013-061-28 | Improvements Assessment | $854,848 |
| Land Assessment | $1,490,725 | Total Assessment | $2,345,573 |
Property Taxes
Parcel Number
013-061-28
Land Assessment
$1,490,725
Improvements Assessment
$854,848
Total Assessment
$2,345,573
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