- Property Type: Multifamily Residential 5+ Units
- Offer Status: Sold!
- City: San Anselmo
- Units: 8
- GRM: 15.95
- Year Built: 1958
Investment Overview
Downtown San Anselmo 8 Plex
The offering consists of one two story 8 unit concrete block apartment building built in the late 1950’s. All units are one bedroom, one bath with original hardwood floors and many with remodeled bathrooms and kitchens. Each unit has both a front and rear entrance. The four upper units have vaulted beamed ceilings and kitchen skylights.
The 575 square foot units have a walk in kitchen with room for a dining table at one end of the living/dining area. Six of the eight units have remodeled kitchens including new 42″ flat panel maple cabinets, granite counters and dishwashers. Kitchens also have new tiled flooring and light fixtures.
In the living rooms of each unit a gas fired wood stove provides heating for the unit. Adjacent to the living area is a bedroom with large closet with mirrored doors and second entrance to the unit. Six of the eight units have new bathroom vanities with granite counters, new tiled tub/shower surrounds and tiled flooring.
All units have good light with living/dining areas facing east. The upper units have hill views and abundant greenery surrounds the property. A separate laundry room is on site for use by the residents and locked storage units are available to each resident.
Uncovered, off street parking is available at the property with one space provided per unit. In addition, there are two off street spaces for guests.
Rental Market in Marin County: The local rental market is very strong with less than a 3% vacancy factor throughout the County. Current rents at the property are below market for the size and location of the apartment units. One bedroom apartments are the most sought after apartment size in Marin and vacant units rent in less than a week in the current high demand rental market.
Financing: Financing for the offering is available through First Federal of San Rafael. Chase, Union Bank or a local private bank, such as Bank of Marin or First Republic Bank. Rates are currently below 4% for 5, 7 and 10 year loans which are amortized over 30 years.
Features
- 8 One Bedroom / 1 Bath Units
- Remodeled Kitchens & Baths
- Below Market Rents
- Nearby Hiking, Shopping, Freeway Access
- Wood Burning Stoves
- Flat, Sunny Lot with Off Street Parking
Property Photos
