Under Contract

Contingent - Show

75-77 Woodland Ave

San Rafael CA, 94901

$3,670,000


$815.92 per sqft

Under Contract

Contingent - Show

1 Bath

4,498 sqft

Multi-family

Woodland Apartments presents a compelling opportunity to acquire a stabilized multifamily asset with substantial rental upside. The property is conveniently located less than 1 mile from downtown San Rafael and immediately proximate to neighborhood retail and employment opportunities. The property is comprised of two 8-unit residential buildings, on two adjoining parcels, that mirror one another across a central driveway and parking area. The combined unit mix incudes (8) studio apartments, (4) 1-bed/1-bath apartments, and (4) 2-bed/1-bath apartments. The buildings benefit from recent upgrades - nine of the units have been updated since 2018 with select units being improved with new paint, flooring, cabinetry, countertops, lighting, dual-pane windows, and stainless steel appliances. Seven of the current tenants have resided at the property for five or more years, a testament to the desirability of the property and its location. Woodland Apartments is a bread and butter investment asset, positioned to provide its new owner with immediate, reliable cash flow and long term appreciation in a highly constrained, blue-chip Bay Area submarket.

324008006

MLS ID

February 7, 2024

Listed

May 31, 2024

Updated

Map

75-77 Woodland Ave
San Rafael CA, 94901

Interior Features

Total Bathrooms

1


Full Bathrooms

1


Laundry Description

Other


Fireplace

No


Cooling

No


Cooling Description

Ceiling Fan(s), None


Heating

Yes


Heating Description

Wall Furnace

Exterior/Building Features

Lot Size

0.21 Acres


Exterior Features

None


Lot Features

None


Sewer

Public Sewer

Other Property Details

Area Name

San Rafael


Garage

No


Parking

Off Street, Side-by-Side, Uncovered


View

No


County

Marin


Water Source

Public


Pool

No


Buyer Agency Compensation

2.5%

Listing History

Date

Event

Price

4/2/2024

Under Contract

3/25/2024

Active

2/15/2024

Under Contract

Listed by John W Garrett (01421403) with Marcus & Millichap

Listing Contact:  

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