179 Los Ranchitos Rd, San Rafael, CA, CA 94903
- $2,900,000
- List Price
- $2,900,000
- Status
- ACTIVE
- MLS#
- 41127432
- County
- Marin
- Year Built
- 1948
- Square Feet
- 38,224
- Days on Market
- 135
- Property Type
- Multifamily
- Neighborhood
- Not Listed
Property Description
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.
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Additional Information
- Parcel Number
- 17529241
- Lot Features
- Back Yard, Front Yard, Yard
- Appliances
- Dryer, Washer
- Heat
- None
- Exterior Construction
- Stucco
- Roof
- Shingle
- Sewer
- Public Sewer
Listing courtesy of Listing Agent: Preet Ballagan (preet.ballagan@kw.com) from Listing Office: KW Advisors.
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.