5 F STREET - 8 UNIT BUILDING

8 UNITS      $1,995,000    SOLD

5 F Street, San Rafael, CA

Located just blocks west of downtown San Rafael, this property is ideally situated for tenants to enjoy all of the benefits of San Rafael while being in a residential neighborhood.

This is a very low maintenance, low management design with minimal landscaping, no decks and no covered parking.  Apartments are a mix of four large 1BR floor plans and 4 large Junior 1BR floor plans.  All apartments are individually metered for gas and electricity.  There is a common coin operated laundry room for the tenants use.

The property was originally built in 1961 as a commercial building.  In 1972 it was rebuilt and configured as eight apartments.  Construction is two story concrete block on a concrete slab. The property appears to be in very good condition, lovingly maintained by a long-term owner. The windows have been replaced with dual pane. The Sewer lateral was just replaced this year.

Rents are below market due to the long-term occupancy of some tenants. There is significant upside in the rental income.  Units are easily upgraded for top rents.

Property sits along a creek and is therefore in a flood zone.  They Seller has no knowledge of the property ever flooding.

agent-photo

Michael Burke


Lic#00454938
415.877.1077
mburke@marinapartments.com
MarinApartments.com | My Bio

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