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Tom Duncan

tom@impactpropelite.com +1(707) 344-1400

Listed by Katherine Y Raphael NORCAL COMMERCIAL

$ 8,300,000

Est. payment | -/mo

22,968 SqFt

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$ 8,300,000

Est. payment | -/mo

Save

22,968 SqFt

Key Details

Property Type Multi-Family

Sub Type 5 or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 22,968 sqft

Price per Sqft $361

MLS Listing ID 326090827

HOA Y/N No

Year Built 1959

Lot Size 1.270 Acres

Acres 1.27

Property Sub-Type 5 or More Units

Property Description

Positioned in the highly sought-after community of Fairfax in central Marin County, this well-maintained 33-unit apartment complex presents a compelling investment opportunity with strong in-place fundamentals and long-term upside. Situated on an expansive 1.27-acre parcel, the property features an attractive unit mix of 24 one-bedroom, one-bath units and 9 two-bedroom, one-bath units, catering to a broad tenant base. The two-story stucco building with concrete slab foundation and newer rolled comp roof is thoughtfully designed around a spacious central courtyard, highlighted by a swimming pool that enhances tenant appeal and fosters a sense of community. The property offers a professional front lobby with an on-site manager's office, as well as convenient building owned coin-operated laundry facilities, dedicated bike parking, shared storage, and a maintenance room with half bath. Tenants also benefit from abundant parking, a highly desirable amenity in this submarket. Several units have private balconies or patios, and there is an underutilized outdoor space at the back of the property that is ready to be reimagined. Current ownership has completed a number of significant capital improvements, including recent SB721 balcony/walkway compliance, a newer roof, dual-pane windows, new water heaters, newer exterior paint, parking lot resurfacing, updated unit interiors (in approx. 28 units), and upgraded electrical subpanelsproviding a strong foundation for future ownership and minimizing near-term capital expenditure needs.

Location

State CA

County Marin

Area Fairfax

Rooms

Basement None

Interior

Heating Gas, Wall Furnace

Cooling None

Laundry Coin Operated, Common Area, Washer/Dryer Owned

Exterior

Waterfront Description Public

View Hills

Roof Type Composition,Flat

Total Parking Spaces 58

Private Pool No

Building

Lot Description Sidewalk

Foundation Concrete, Slab

Sewer Public Sewer

Water Public

Others

Tax ID 17405118

Special Listing Condition Offer As Is

Bay Area Real Estate Info Services (BAREIS)

Nearby Locations

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+1(707) 344-1400

tom@impactpropelite.com

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2555 Sir Francis Drake BLVD Fairfax, CA 94930