129137 Canal Street, San Rafael, CA 94901
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Listed Price :
$15,250,000
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Beds :
N/A
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Baths :
-
Property Size :
N/A sqft
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Year Built :
1962
Property 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.
Interior Features
| Bedroom Information |
| Bedrooms |
N/A |
| Interior Information |
| Cooling Type |
Gas |
Listing Information
| Address |
129137 Canal Street |
| City |
San Rafael |
| State |
CA |
| Zip |
94901 |
| County |
Marin |
| Listing Agent |
Jefrey Henderson DRE #01483399 |
| Courtesy Of |
Jefrey Henderson, Broker |
| List Price |
$15,250,000 |
| Status |
Active |
| Type |
Commercial |
| Structure Size |
N/A |
| Lot Size |
50,094 |
| Year Built |
1962 |
Listing information courtesy of: Jefrey Henderson, Jefrey Henderson, Broker. *Based on information from the Association of REALTORS/Multiple Listing as of Oct 26th, 2024 at 12:09 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
