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934 Sir Francis Drake Blvd 8 Unit Apartment Building $3,700,000 ($462,500/Unit) 4.91% Cap Rate Greenbrae, CA 94904
Executive Summary
Ideally located in the heart of affluent south-central Marin, this well-positioned property sits just two blocks east of the College of Marin. The highly desirable Kentfield location offers residents convenient access to major employers, retail, dining, and transportation corridors.
Originally constructed in 1973, as a seven-unit building, a studio was added (#8) then expanded to a 1BR in 1996. 934 SFD has been meticulously maintained with substantial remodeling and upgrades – Truly “turnkey”. All electrical sub panels and the main panel have been replaced. All windows are a heavy-duty dual pane. Six of the eight units have been completely remodeled with laminate floors, SS appliances, black granite counters and seven units feature a fireplace. Most of the apartments have direct Mt Tam views. Four apartments have large private decks. This a full security building with a locking front door and a second secure entrance from the carport area.
The unit mix consists of five 2-bedroom/2 bath apartments, and three 1-bedroom apartments. Parking accommodations include eight carports. Apartments are individually metered for, and tenants pay their own PG&E. There is an on-site laundry room with owned Maytag Commercial washers and dryers. A few of the units have in-unit laundry facilities. The non-ground floor apartments have a second entrance/exit.
Year Built – 1973 as 7 units then a studio was added and expanded to a 1BR in 1996.
Construction – Wood frame/stucco
Foundation – Concrete perimeter and slab
Roof – Torch down and tar & gravel
Windows - Dual pane – heavy duty
Electrical – Recently replaced sub and main panels
Plumbing – copper
Kitchens – Dishwasher in all except #8
Laundry – Laundry Room – owned equipment – Maytag Commercial,
plus a couple of apartments with in-unit laundry
Storage – 7 Individual storage closets plus owner’s units
Lot size – 9,925 sf (Assessor)
Building Size – 8,936 sf (Assessor)
Decks – Being Inspected
Heating: Electric baseboard - newer
Price/sf - $ 414/sf
Price/unit - $ 465,500
GSI - $ 269,000 current.
NOI - $ 181,500 at current rents
GRM – 13.75 at current rents
CAP – 4.91% at current rents
Originally constructed in 1973, as a seven-unit building, a studio was added (#8) then expanded to a 1BR in 1996. 934 SFD has been meticulously maintained with substantial remodeling and upgrades – Truly “turnkey”. All electrical sub panels and the main panel have been replaced. All windows are a heavy-duty dual pane. Six of the eight units have been completely remodeled with laminate floors, SS appliances, black granite counters and seven units feature a fireplace. Most of the apartments have direct Mt Tam views. Four apartments have large private decks. This a full security building with a locking front door and a second secure entrance from the carport area.
The unit mix consists of five 2-bedroom/2 bath apartments, and three 1-bedroom apartments. Parking accommodations include eight carports. Apartments are individually metered for, and tenants pay their own PG&E. There is an on-site laundry room with owned Maytag Commercial washers and dryers. A few of the units have in-unit laundry facilities. The non-ground floor apartments have a second entrance/exit.
Year Built – 1973 as 7 units then a studio was added and expanded to a 1BR in 1996.
Construction – Wood frame/stucco
Foundation – Concrete perimeter and slab
Roof – Torch down and tar & gravel
Windows - Dual pane – heavy duty
Electrical – Recently replaced sub and main panels
Plumbing – copper
Kitchens – Dishwasher in all except #8
Laundry – Laundry Room – owned equipment – Maytag Commercial,
plus a couple of apartments with in-unit laundry
Storage – 7 Individual storage closets plus owner’s units
Lot size – 9,925 sf (Assessor)
Building Size – 8,936 sf (Assessor)
Decks – Being Inspected
Heating: Electric baseboard - newer
Price/sf - $ 414/sf
Price/unit - $ 465,500
GSI - $ 269,000 current.
NOI - $ 181,500 at current rents
GRM – 13.75 at current rents
CAP – 4.91% at current rents
Financial Summary (Actual - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$269,000
|
$32.41
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$269,000
|
$32.41
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$87,500
|
$10.54
|
| Net Operating Income |
$181,500
|
$21.87
|
Financial Summary (Actual - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $269,000 |
| Annual Per SF | $32.41 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $269,000 |
| Annual Per SF | $32.41 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $87,500 |
| Annual Per SF | $10.54 |
| Net Operating Income | |
|---|---|
| Annual | $181,500 |
| Annual Per SF | $21.87 |
Property Facts
| Price | $3,700,000 | Apartment Style | Low-Rise |
| Price Per Unit | $462,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.54 AC |
| Cap Rate | 4.91% | Building Size | 8,936 SF |
| Gross Rent Multiplier | 13.75 | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1973/2020 |
| Property Subtype | Apartment | Parking Ratio | 0.9/1,000 SF |
| Price | $3,700,000 |
| Price Per Unit | $462,500 |
| Sale Type | Investment |
| Cap Rate | 4.91% |
| Gross Rent Multiplier | 13.75 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.54 AC |
| Building Size | 8,936 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1973/2020 |
| Parking Ratio | 0.9/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 5 | $2,884 | - |
| 1+1 | 3 | $2,296 | - |
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Fairly walkable
50/100
Moderately drivable
70/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 071-144-58 | Improvements Assessment | $2,174,365 |
| Land Assessment | $1,690,416 | Total Assessment | $3,864,781 |
Property Taxes
Parcel Number
071-144-58
Land Assessment
$1,690,416
Improvements Assessment
$2,174,365
Total Assessment
$3,864,781
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934 Sir Francis Drake Blvd