129-137 Canal Street
$13,000,000
—
36,000
36,000
$361
Description
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...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.
- Listed by Jefrey Henderson • DRE #01483399 • Brokerage DRE #01483399 • Jefrey Henderson, Broker • 415-535-7414
Property Details for 129-137 Canal Street
MLS City Name
SAN RAFAEL
Building TypeOther
Garage Spaces0
Parking Spaces5
LISTING UPDATED: 11/17/2024 07:14 PM
Property Details for 129-137 Canal Street
Status | Active |
---|---|
MLS # | ML81984892 |
Days on Compass | 57 |
Taxes | $205,000 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family 5+ |
MLS Type | 5+ Units / Five or More Units |
Year Built | 1962 |
Lot Size | 1.15 AC / 50,094 SF |
County | Marin County |
Building Information for 129-137 Canal Street
Stories-Residences-Year Built1962Building Size-Lot Size1.15 AC / 50,094 SF
Property Information for 129-137 Canal Street
Property History for 129-137 Canal Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 129-137 Canal Street
This home is within San Rafael City Elementary School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Bahia Vista Elementary School PublicK to 5 | ||
James B. Davidson Middle School Public6 to 8 | ||
Terra Linda High School Public9 to 12 | ||
San Rafael High School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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