List Price: $2.9M

Listing Status: Active

Days on Market: 192

0 Bedrooms · 0 Bathrooms

Property Type: ResidentialIncome

Year Built: 1948

Lot Size: 38,224 sq ft

MLS Number: 41127432

About This Property

*** Seller financing available *** Seller financing for up to 75% of the purchase price to a qualified buyer, at a 5.5% interest rate for a 3-year term. A rare investment opportunity in the heart of San Rafael, Marin County, one of California's most supply-constrained rental markets. This exceptional 17-bedroom, 9-bath income property sits on 1.66 acres across two parcels with pro forma gross rental income potential of $296,400/year. The property features a main structure with 16 bedrooms and 8 baths operating on a room-by-room rental model, 14 standard rooms at $1,300/mo and 2 premium rooms at $2,000/mo, plus a fully detached 1BD/1BA private residence with a market rent of $2,500/mo. Pro forma owner-managed NOI of approximately $185,888/year supports the $2,900,000 asking price at a 6.41% projected cap rate. All figures are pro forma projections based on market rents; buyer to verify.

Listing provided by: Preet Ballagan DRE #02125828 510-796-7900 preet.ballagan@kw.com, KW Advisors

Source: CRMLS, MLS #: 41127432

Belmont Brokerage Inc. (DRE #02431308) is not the listing office for this property. We provide buyer representation and consultation. Any “Schedule a Tour” or “Contact” form on this page contacts a Belmont Brokerage agent — not the listing agent above.

Property Photos