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2 Homes on one lot with Brand New Second Home 846 Wilmac Ave 2 Unit Apartment Building $1,795,000 ($897,500/Unit) 5.04% Cap Rate Novato, CA 94947
INVESTMENT HIGHLIGHTS
- New 2 Bed/2 Bath Home on property
- Main House Extensivly Remodeled
EXECUTIVE SUMMARY
Nestled at the end of a serene cul-de-sac, this stunningly renovated single level 4BD/3BA home with two primary suites plus a large independent 2BD/2BA home is truly hard to find in Marin. Designed for multi-generational families, two families or in laws, 1031, or rental income streams. The main house is beautifully updated with a sunlit living space and rustic fireplace. Off the living area is the bigger of two primary suites, with a spa-like bathtub, walk-in closet, and sliders to the backyard. The well crafted chef's kitchen includes gas range, quartz countertops, and breakfast nook flowing to the dining area. Three additional bedrooms are well positioned on the opposite wing of the home for optimal privacy. But that's not all, this property also includes 846A, a brand-new 2BD/2BA home with its own private entrance, yard, and separate utilities. The impressive new construction features soaring beam ceilings, modern open-concept kitchen, and two en-suite bedrooms. Large sliders invite abundant natural light and open to a large patio, fenced in private yard and landscaping. All located just blocks from top-rated schools, lively downtown Novato, and highway 101. Don't miss out on the chance to own a one of a kind stellar property compound in Marin County
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$90,504
|
$35.86
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $90,504 |
| Annual Per SF | $35.86 |
PROPERTY FACTS
| Price | $1,795,000 | Apartment Style | Single-Family Home |
| Price Per Unit | $897,500 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 5.04% | Building Size | 2,524 SF |
| Gross Rent Multiplier | 15.11 | Average Occupancy | 0% |
| No. Units | 2 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1955/2025 |
| Property Subtype | Apartment |
| Price | $1,795,000 |
| Price Per Unit | $897,500 |
| Sale Type | Investment |
| Cap Rate | 5.04% |
| Gross Rent Multiplier | 15.11 |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single-Family Home |
| Building Class | B |
| Lot Size | 0.19 AC |
| Building Size | 2,524 SF |
| Average Occupancy | 0% |
| No. Stories | 1 |
| Year Built/Renovated | 1955/2025 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 4+3 | 1 | $5,800 | 1,790 |
| 2+2 | 1 | $4,550 | 734 |
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Holmes Burrell Real Estate
2 Homes on one lot with Brand New Second Home | 846 Wilmac Ave
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