Active

129-137 Canal ST

SAN RAFAEL CA, 94901

$13,000,000


$361.11 per sqft

Active

36,000 sqft

Multi-family

Built in 1962

Listed by Jefrey Henderson, Broker, Jefrey Henderson, Listing Contact: 4155357414

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

November 22, 2024

Updated

Map

129-137 Canal ST
SAN RAFAEL CA, 94901

Interior Features

Fireplace

No


Cooling

Yes


Cooling Description

Central Air


Heating

Yes


Heating Description

Central, Forced Air

Exterior/Building Features

Lot Size

1.15 Acres

School Information

School District

San Rafael City Elementary

Other Property Details

Area Name

San Rafael


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%

Listed by Jefrey Henderson, Broker, Jefrey Henderson,
Listing Contact: 4155357414 

All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Haylen Group shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the MLS Listings, Inc. MLS system. Real estate listings held by brokerage firms other than Haylen Group are marked with the Internet Data Exchange icon (a stylized house inside a circle) and detailed information about them includes the names of the listing brokers and listing agents.

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Data last updated 4:50 AM UTC, 11/22/2024

 

 

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