Under Contract
75-77 Woodland Ave
San Rafael CA, 94901
$3,670,000
$815.92 per sqft
Under Contract
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
April 27, 2024
Updated
Map
75-77 Woodland Ave
San Rafael CA, 94901
Interior Features
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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