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1380 Lincoln Avenue

San Rafael, CA 94901
  • $3,950,000
  • STATUS: Active
  • ON SITE: 238 Days
  • ID#: 323040305
Price Reduced
UPDATED: 59 min ago
$3,950,000
  • 8
    BEDS
  • 0.22
    ACRES
  • 4
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1965
County:
Area:

School Ratings & Info

Description

Discover 1380 Lincoln Ave, newly converted to residential apartment complex, located in the beautiful county of Marin, right in the heart of San Rafael. With 9 turnkey units boasting strong rents, this property presents an exceptional opportunity. Offering a diverse selection of units, including 3 studios, 4 one-bedrooms, and 2 two-bedrooms. Originally an office building, this property underwent a complete transformation in 2023, resulting in fully remodeled units featuring brand new cabinets, flooring, kitchens, bathrooms, and operating systems. Ample on-site parking, with 12 dedicated spaces available. Strong in-place rents, with built-in 3% annual increases stipulated in the leases. It's worth noting that Marin County is known for stringent regulations on multi-family construction, making opportunities like this particularly rare.

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© 2024 Bay Area Real Estate Information Services, Inc. All Rights Reserved. IDX information is provided exclusively 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. Information is deemed reliable but is not guaranteed accurate by the MLS or Excellerate Real Estate. Data last updated: 2024-02-20T23:56:56.493.
www.solanoregroup.com/homes/140972650
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1380 Lincoln Avenue San Rafael, CA 94901

  • Price: $3,950,000
  • Status: Active
  • On Site: 238 Days
  • Updated: 59 min ago
  • ID#: 323040305
8
Beds
4
Baths
0
½ Baths
0.22
Acres
1965
Built
Neighborhood:
San Rafael
County:
Marin
Area:
San Rafael
Property Description
Discover 1380 Lincoln Ave, newly converted to residential apartment complex, located in the beautiful county of Marin, right in the heart of San Rafael. With 9 turnkey units boasting strong rents, this property presents an exceptional opportunity. Offering a diverse selection of units, including 3 studios, 4 one-bedrooms, and 2 two-bedrooms. Originally an office building, this property underwent a complete transformation in 2023, resulting in fully remodeled units featuring brand new cabinets, flooring, kitchens, bathrooms, and operating systems. Ample on-site parking, with 12 dedicated spaces available. Strong in-place rents, with built-in 3% annual increases stipulated in the leases. It's worth noting that Marin County is known for stringent regulations on multi-family construction, making opportunities like this particularly rare.
Exterior Features

Carport Spaces 0 Covered Spaces 0 Foundation Details ConcretePerimeter Independent Parking Spaces 0 Levels Two Lot Features CornerShape RegularSidewalk Open Parking Spaces 0 Parking Features Off StreetUncovered Parking Total 12 Patio And Porch Features Enclosed PatioVaries by Unit Roof Composition Tandem Parking Spaces 0 View Varies by Unit

Interior Features

1 Bedroom Units Total 5 2 Bedroom Units Total 2 3 Bedroom Units Total 0 4 Bedroom Units Total 0 Appliances DishwasherDisposalFree Standing Gas OvenFree Standing Gas RangeFree Standing Refrigerator Commercial Units Total 0 Cooling None Flooring Simulated Wood Green Energy Efficient Appliances Heating Central Laundry Features In Each Unit Studio Units Total 2

Property Features

Accessibility Features 0 Association Fee 0 Association YN No Auction No Gross Income 303000 Property Sub Type 5 or More Units Property Type ResidentialIncome Security Features Carbon Mon DetectorDouble Strapped Water HeaterFire AlarmSecurity System LeasedSmoke Detector Separate Meters ElectricityGas Sewer Public Sewer Subtype Description Apartments Tenant Pays ElectricityGas Water Source Water District

Listing information © 2024 Bay Area Real Estate Information Services. Listing courtesy of Elizabeth Sasan of Golden Gate Sotheby's International Realty: .


© 2024 Bay Area Real Estate Information Services, Inc. All Rights Reserved. IDX information is provided exclusively 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. Information is deemed reliable but is not guaranteed accurate by the MLS or Excellerate Real Estate. Data last updated: 2024-02-20T23:56:56.493.
 
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