Homes for sale - 1476 Lincoln AVE, San Rafael, CA 94901

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Doug Goss

dgoss@kw.com +1(408) 234-0417

Listed by Jefrey Henderson • Jefrey Henderson, Broker

$4,050,000

Est. payment - /mo

1 Bed

1 Bath

6,380 SqFt

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UPDATED:

Key Details

Property Type Commercial

Sub Type Five or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 6,380 sqft

Price per Sqft $634

MLS Listing ID ML82009415

Bedrooms 1

Full Baths 1

Year Built 1950

Lot Size 9,990 Sqft

Property Sub-Type Five or More Units

Property Description

1476 Lincoln Ave The Property is an 11-unit multifamily core asset situated in the heart of San Rafael, California. Built in the 1980s, the property is comprised of exclusively 1-bed 1-bath well-maintained residential units with a total of 7,700 rentable square feet. The generous units average 700 square feet and have not marked to market. This a prime opportunity for a new buyer to immediately increase yield by conservatively pushing rents to $2,500/unit without any renovation plan. The property is 100% occupied with strong in-place rents of $2,360 per unit, supported by robust market fundamentals and integral high demand rental environment. 1476 Lincoln has a lot of rental appreciation potential as home prices continue to remain well out of reach for most residents in the area. The average price for homes in the San Rafael market start above $1,000,000 and with banks tightening their credit boxes the cost to borrow is at a decade high level. This investment opportunity is priced to just north of $4,000,000, reflecting a compelling $368,182 per unit and an attractive 5%+ in place cap rate.

Location

State CA

County Marin

Area San Rafael

Interior

Heating Central Forced Air

Cooling Central AC

Laundry Washer / Dryer

Exterior

Parking Features Assigned Spaces

Utilities Available Individual Electric Meters, Individual Gas Meters

Roof Type Flat / Low Pitch

Building

Foundation Reinforced Concrete

Sewer Sewer - Private

Water Individual Water Meter

Others

Restrictions None

Tax ID 011-103-46

Security Features None

Special Listing Condition Not Applicable

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Doug Goss

+1(408) 234-0417

Broker Associate | License ID: 01182111

Broker Associate License ID: 01182111

1476 Lincoln AVE San Rafael, CA 94901

Doug Goss

Key Details

Location

Interior

Exterior

Building

Others

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