Property Details
About this Property
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.
MLS Listing Information
MLS #
ML81984892
MLS Source
MLSListings, Inc.
Days on Site
21
Interior Features
Cooling
Central Forced Air - Gas
Heating
Central Forced Air - Gas
Exterior Features
Roof
Flat
Foundation
Slab
Parking, School, and Other Information
Garage/Parking
Covered Parking, Garage: 0 Car(s)
Elementary District
San Rafael City Elementary
High School District
San Rafael City High
Zoning
N/A
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 2 | 40 | 40 |
| Type | Sq Ft | Beds | Baths | Min Rent | Max Rent | Units Like This |
|---|---|---|---|---|---|---|
| 1 | 900 | 2 | 1/0 | $2,400 | $3,150 | 40 |
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
129-137 Canal St is a Residential Income in San Rafael, CA 94901. This 36,000 square foot property sits on a 1.15 Acres Lot and features – bedrooms & – full bathrooms. It is currently priced at $15,250,000 and was built in 1962. This address can also be written as 129-137 Canal St, San Rafael, CA 94901.
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This listing information is up-to-date as of October 25, 2024. For the most current information, please contact Jefrey Henderson, (415) 535-7414
