Active
129137 Canal Street
San Rafael CA, 94901
$13,000,000
$361.11 per sqft
Active
36,000 sqft
Commercial
Built in 1962
Listed by Jefrey Henderson with Jefrey Henderson, Broker 408-306-3228
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
December 5, 2024
Updated
Map
129137 Canal Street
San Rafael CA, 94901
Interior Features
Fireplace
No
Cooling
Yes
Cooling Description
Gas
Heating
No
Exterior/Building Features
Lot Size
1.15 Acres
Roof
Flat
School Information
School District
Other
Other Property Details
Area Name
699 - Not Defined
Taxes
$205,000
Tax Frequency
Annually
Days on Market
40
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% |
Listing Contact: (408) 453-7461
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 12/5/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.
Data last updated on 12/5/2024 at 1:27 PM UTC