Apartment Inventory Low; Prices Continue To Rise with Flat Rents

Greenbrae-Apartment sellers are reaping big profits this year as the few properties that come to market get snapped up quickly with many multiple offer scenarios.

The properties in the 2-4 unit category are being purchased by frustrated house hunters that need the additional income of a multi-unit property to qualify for financing. The majority of sales in this category have been multiple offers driving prices higher.

2-4 Unit Sales in Marin County from January-May 2016

Price Address Details of Sale # of Units
$465,000 95 Live Oak, Fairfax Major fixer 2
$1,388,100 10 Stadium, Mill Valley Remodeled 2
$1,350,000 29 N Knoll, Mill Valley Fixer house + duplex 3
$1,100,000 1014 3rd, Novato Large 2b/1.5ba 4
$1,145,000 1046 5th, Novato Fixer downtown 4
$967,000 111 Laurel Pl, San Rafael Victorian Fixer 4
$1,425,000 26 Elizabeth, San Rafael 3 large units, garages 3
$1,305,000 128 Woodward, Sausalito Bay view 2
$1,950,000 215 Woodward, Sausalito 2 houses on 1 lot 2
$2,800,000 102 Hi Vista, Sausalito Bay views, garages 2

5+ Unit Sales in Marin County from January-May 2016

Price Address Details of Sale # of Units GRM
$3,730,000 10 Ash, Mill Valley 10 unit fixer 10 17.3
$3,020,000 729 Cherry, Novato 15 unit fixer 15 14.2
$5,075,000 310 Bayview, San Rafael Remodeled 2b/2ba 14 14.2
$2,950,000 1805 Mar West, Tiburon Remodeled bay view 6 15.1

Demand for North Bay Apartment Properties

I have several buyers actively looking for apartment properties right now. If you would consider an off market sale that would give you time to locate a trade property these buyers are NOT in exchanges or under time constraints.

Current Buyer Needs

  • Smaller complex (5-8 units) central Marin up to $1,600,000-fixer okay.
  • All cash buyer ($1,800,000) wants apartments, mixed use or leased industrial anywhere in Marin or Sonoma County.
  • Buyer wants Southern Marin units, mixed use or fully leased investment up to $5,000,000.

Please contact me to discuss any of your investment needs and we can find a solution. My email is katherine@khiggins.com or cell number is 415-302-7730.

Katherine J. Higgins
Broker Associate Investments