San Rafael, CA 94901,129137 Canal ST
San Rafael, CA 94901,129137 Canal ST
San Rafael, CA 94901,129137 Canal ST
10
See all 10 photos
$13,000,000
Est. payment /mo
Save
1.15 Acres Lot
Price Dropped by $2.2M

129137 Canal ST San Rafael, CA 94901

Save
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour

UPDATED:

11/18/2024 03:25 AM

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID ML81984892

HOA Y/N No

Year Built 1962

Annual Tax Amount $205,000

Lot Size 1.150 Acres

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.

Location

State CA

County Marin

Area 699 - Not Defined

Interior

Cooling Gas

Fireplace No

Exterior

Carport Spaces 40

Roof Type Flat

Total Parking Spaces 5

Schools

School District Other

Others

Tax ID 01726218

Special Listing Condition Standard


California Regional MLS (CRMLS)
Listed by Jefrey Henderson • Jefrey Henderson, Broker

GET MORE INFORMATION

Joshua Shorter

RE.S.0191694

+1(702) 728-0089

Name
Phone*
Message

By registering you agree to our Terms of Service & Privacy Policy. Consent is not a condition of buying a property, goods, or services.

Go tour this home

129137 Canal ST