3 Bayview St, San Rafael, CA

Investment Overview

Charming Victorian 6-Unit Building

Location: This charming Victorian 6 units is located on one of the best streets in San Rafael’s historic neighborhood—Gerstle Park. The area is a mix of small rental properties and renovated turn of the century Victorians. The neighborhood is just a few blocks from downtown San Rafael shops, restaurants and a renovated Art Deco Movie theatre-The Rafael. San Rafael is the hub city of Marin County and provides easy access to the East Bay, San Francisco and north bay cities.

Description: This wonderful two-story Victorian was built in 1889, according to tax records, and sits on a 12,000+ square foot, flat, level, sunny lot that is very private and down a long driveway from Bayview Street. There is a large yard with a picnic table at the front of the property. Leading up a wide staircase to a big front porch, the older home was converted some time after World War II to six rental housing units.

The unit mix is four one bedrooms, of varying sizes (one with a woodburning fireplace), a two bedroom unit and a single studio  apartment. Many kitchens are large with good light and a number of original features remain from the old house, such as moldings, medallions and light fixtures. The foundation has not been upgraded. There is a large basement area
currently used as a workshop.

Off street parking is uncovered. There are at least 8 parking spots and a structure at the rear of the property that was once used as a single car garage and is now storage and laundry.

Financing: Private financing available at 6.75% interest only for 7 years in the amount of $720,000. Seller is willing to lend a small amount as a second. All reports in listing office.

Features:

• Walk to Downtown & the Panama Hotel
• 4 One-Bedrooms / 1 Two-Bedroom / 1 Studio
• Big Front Porch
• Long Term Tenants
• 12,000 Sq. Ft., Level, Sunny Lot
• Rental Upside
• Private Financing at 6.75%, 7 years