Active
129-137 Canal ST
SAN RAFAEL CA, 94901
$13,000,000
$361.11 per sqft
Active
36,000 sqft
Multi-family
Built in 1962
Listed by Jefrey Henderson, Broker, Jefrey Henderson, Listing Contact: 4155357414
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.
ML81984892
MLSⓇ ID
October 25, 2024
Listed
November 18, 2024
Updated
Map
129-137 Canal ST
SAN RAFAEL CA, 94901
Interior Features
Fireplace
No
Cooling
Yes
Cooling Description
Central Air
Heating
Yes
Heating Description
Central, Forced Air
Exterior/Building Features
Lot Size
1.15 Acres
School Information
School District
San Rafael City Elementary
Other Property Details
Area Name
San Rafael
Garage
No
Parking Total
5
View
No
County
Marin
Pool
No
Zoning
N/A
Listing History
Date | Event | Price |
|---|---|---|
11/18/2024 | Price change | $13,000,000 -15% |
Listed by Jefrey Henderson, Broker, Jefrey Henderson,
Listing Contact: 4155357414
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Data last updated 3:48 AM UTC, 11/18/2024