179 Los Ranchitos Rd, San Rafael, CA 94903
- $2,900,000
- 5,582
- SqFt
- List Price
- $2,900,000
- Status
- ACTIVE
- MLS#
- 41127432
- Days on Market
- 179
- Property Type
- OTHER
- Living Area
- 5,582
- Lot Size
- 38,224
- Lot Description
- 2 Houses / 1 Lot
- Subdivision
- Not Listed
Property Description
Rare investment opportunity in the heart of San Rafael, Marin County, one of California's most supply-constrained rental markets. This exceptional 17-bedroom, 9-bath income property sits on 1.66 acres across two parcels with pro forma gross rental income potential of $296,400/year. The property features a main structure with 16 bedrooms and 8 baths operating on a room-by-room rental model, 14 standard rooms at $1,300/mo and 2 premium rooms at $2,000/mo, plus a fully detached 1BD/1BA private residence with a market rent of $2,500/mo. Pro forma owner-managed NOI of approximately $185,888/year supports the $2,900,000 asking price at a 6.41% projected cap rate. All figures are pro forma projections based on market rents; buyer to verify.
Additional Information
- Year Built
- 1948
- Acres
- 0.88
- Flooring
- Laminate
- Exterior
- Stucco
- Garage Description
- Attached, Parking Lot
- Basement
- None
- Cooling
- No Air Conditioning
- Heating
- None
- Parking Description
- Attached, Parking Lot
- Yard Description
- Back Yard, Front Yard, Side Yard, Storage, Garden
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Listing courtesy of Preet Ballagan from Kw Advisors
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