$ 4,050,000
-
$4,050,000
Price -
0
Bed - Bath
-
6,380
SqFt
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About the Listing ML5009585 - ML5067171
1476 Lincoln Ave The Property is an 11-unit multifamily core asset situated in the heart of San Rafael, California. Built in the 1980s, the property is comprised of exclusively 1-bed 1-bath well-maintained residential units with a total of 7,700 rentable square feet. The generous units average 700 square feet and have not marked to market. This a prime opportunity for a new buyer to immediately increase yield by conservatively pushing rents to $2,500/unit without any renovation plan. The property is 100% occupied with strong in-place rents of $2,360 per unit, supported by robust market fundamentals and integral high demand rental environment. 1476 Lincoln has a lot of rental appreciation potential as home prices continue to remain well out of reach for most residents in the area. The average price for homes in the San Rafael market start above $1,000,000 and with banks tightening their credit boxes the cost to borrow is at a decade high level. This investment opportunity is priced to just north of $4,000,000, reflecting a compelling $368,182 per unit and an attractive 5%+ in place cap rate.
Listing Highlights for 1476 Lincoln Ave
Interior Details
- Bedrooms: 0
- Bathrooms: Full
- Appliances:
- Air Cond: Central Air
- Heating: Central
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 2
- Zoning: N/A
- Roof: Flat
- Others:
- Sewer:
Financial Details
- Tax Amount: $63,300
- Taxes w/Assessments: N/A
- Tax/Property ID: 01110346
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Listing Location
Questions About..
1476 Lincoln Ave San Rafael, CA 94901
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