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129137 Canal St
For Sale $13,000,000
$13,000,000
- Units
- Unknown Sq Ft
- 50,094 Sq Ft
- Unknown Cap Rate
Description
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.
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Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $13,000,000 |
| Property Type | Other |
| Usable Sqft | Unknown |
| Number of Stories | 0 stories |
| Parking Spots | 5 spots |
| Year Built | 1962 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| HOA Fees: | $0 |
| Association Name: | Unknown |
| Association Amenities: | Unknown |
| APN # | 01726218 |
| MLS # | ML81984892 |
| Property ID | 320988281 |
| Lot Sqft | 50,094 |
| Zoning | N/A |
| Days on Market | 34 |
| Original List Price | $15,250,000 |
| Date Updated | November 17, 2024 |
| Date Created | October 25, 2024 |
Financials not available online. Please inquire with your agent for more details.
Listing Provided By
Jefrey Henderson an agent of . Lic #01483399
© 2024 CRMLS. All rights reserved. Some listings on this website are from CRMLS as of November 17, 2024 The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Robert Crawford
REAL ESTATE AGENT