About 129-137 Canal St
129-137 Canal St Apartments (the Property) comprised of 40 market rate units in San Rafael, California. Situated at the southern end of the North Bay, the Property provides residents convenient access to surrounding job-rich & high salaried communities in Marin County and San Francisco County. 129- 137 Canal offers attractive high in-place yields with the opportunity to increase rents Day 1 and capture a near 6% cap rate. Upon unit turnovers, strategic renovations of the 900 SF 2x1 floorplans can achieve +/- $3,200 market rents, increasing NOI by another $144,000 or 10.3%. Current ownership does not implement RUBS, allowing prospective buyers potentially $64k in future utility reimbursements annually. 129 Canal (0.57AC) and 137 Canal (0.58AC) are on separate APNs and have potential space for ADU development.
Features of 129-137 Canal St
| MLS® # | ML81984892 |
|---|---|
| Price | $13,000,000 |
| Square Footage | 36,000 |
| Acres | 1.15 |
| Year Built | 1962 |
| Type | Multi-Residential |
| Sub-Type | Five or More Units |
| Status | Active |
Community Information
| Address | 129-137 Canal St |
|---|---|
| Area | San Rafael |
| City | SAN RAFAEL |
| County | Marin |
| State | CA |
| Zip Code | 94901 |
Amenities
| Utilities | Individual Electric Meters, Individual Gas Meters |
|---|---|
| Parking Spaces | 5 |
| Is Waterfront | No |
Interior
| Heating | Central Forced Air - Gas |
|---|---|
| Cooling | Central Forced Air - Gas |
| Fireplace | No |
Exterior
| Roof | Flat/Low Pitch |
|---|---|
| Foundation | Concrete Slab |
Additional Information
| Zoning | N/A |
|---|---|
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Jefrey Henderson |
|---|---|
| Office | Jefrey Henderson, Broker |
| Contact Info | 415-535-7414 |