129-137 Canal St, SAN RAFAEL, CA

$15,250,000

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36,000

Square feet

1.15

Acres

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 $15,250,000
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

AgentJefrey Henderson
OfficeJefrey Henderson, Broker
Contact Info415-535-7414

Listing Map

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