10-24 Davenport Ct, San Rafael, CA

Investment Overview

Sun Valley Legacy Property

Location: This special property is located on a private cul-de-sac at the top of a sunny hill just off Fifth Avenue in Central San Rafael, California. The neighborhood, known as Sun Valley, is a quiet enclave of charming bungalows, tree lined streets and an easy walk to trail heads, coffee shops and restaurants. Just 15 minutes to Highway 101, the property is secluded but easily accessible to all the modern amenities.

Description: This unique investment property consisting of four separate two story duplexes sits on a nearly acre parcel totaling 43,006 square feet. This is the first offering in over 40 years and the property has been well maintained. The lot is at the top of a hill on a plateau and is tree studded and sunny.

Each spacious unit includes a wood burning fireplace, garage or carport, decking and yard. The unit mix includes four two bedroom/one bath units of approximately 1,225 square feet and four one bedroom/one bath units. Two of the one bedroom units are 1,000 square feet each and the remaining two one bedroom apartments are 1,080 square feet each.

Most tenants are long term and have resided at the property since 1993-2008. The last turnover of a unit was in 2011.

Rents at the property are far below market and range from $1,250-1,325 for the one bedroom apartments. Current two bedroom rent ranges are from $1,4851,685.

With modernization of the units, market rents for this location and size of unit runs from $1,800 for one bedroom units to $2,100 for two bedroom units.

Financing: Available apartment financing can be obtained through First Federal of San Rafael, Chase or Luther Burbank in San Rafael. Call the listing agent for referrals to mortgage professionals who specialize in apartment financing.

Features:

• 4 Large Two Bedrooms
• 4 Large One Bedrooms
• Below Market Rents
• Nearby Hiking, Shopping, Freeway Access
• Garages & Wood Burning Fireplaces
• Flat, Sunny, 43,3006 Sq. Ft. Lot