65 Summit Ave, Mill Valley, CA

Investment Overview

Downtown Mill Valley 9-Unit Renovated Apartments
65 Summit Avenue, Mill Valley, CA 94941

The current owner purchased it in 2003 and upgraded the foundation and all the interiors at the property, adding fireplaces, modern kitchen and baths. The unit mix is one 3 bedrooms, 2 bath with fireplace and hardwood floors, 4 two bedroom, two baths with fireplaces and hardwood floors, 2 small one bedroom, one baths with sunny outdoor patios and two small studios. Many of the larger apartments have full dining rooms like Victorian flats in San Francisco.

The common area laundry is available to all residents and there are ample covered parking places for all tenants and guests at the rear of the property.

There is nearly 10,000 square feet of rentable space on a 16,000+ square foot lot of this unique and appealing property just a few blocks from downtown Mill Valley.

The one bedroom units have use of the second-floor common area covered porch that looks out at the tops of the trees at the ridgeline in Mill Valley. Other units have private patios outside their front doors.

The current owner is retiring, and rents have been kept low. There is substantial room in rent for increases. The owner intends to complete a 1031 exchange from this property.