Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Novato Quadruplex with Private Yards Title is generated by Realmo AI

    1048 7th Street, Novato, CA 94945

    View on Map
    Claim this Listing
    New
    For Sale
    $1,600,000

    Quadruplex - Novato, CA

    Type:Quadruplex
    Property size:
    4,004 SF
    Lot size:
    0.17 Acres
    Price / SF:
    $399/SF
    Added:
    May 29, 2026
    Days on Market:
    2
    Last Refresh:
    May 30 at 11:06 am

    Property Features for 1048 7th Street

    General Information

    Property type
    Other
    Property subtype
    Quadruplex
    Parking
    8
    Standard status
    Active
    APN
    141-251-31
    Size
    4,004 SF
    Lot size
    0.17 Acres

    Utilities

    Heating system
    Central

    Building Details

    Year built
    1979
    Architectural style
    Other

    We can help!

    Listing Contact
    Pamela Burke
    Pamela Burke

    Listing agent Pamela Burke

    Listing office Golden Gate Sotheby's International Realty 500 Drakes Landing Road, Mill Valley, CA

    Listing date May 29, 2026

    MLS# 326045976 Listing URL

    Copyright © 2026 Bay Area Real Estate Information Services, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Four 2BR/1.5BA Townhouse apartments
    • Individual laundry rooms in each apartment
    • Private fenced backyard for each apartment
    • Ample off‑street parking: two spaces per apartment (one carport, one open)
    • Desirable location: near downtown Novato, but not directly in it
    • Well‑maintained property

    Overview

    This property features four 2-bedroom, 1.5-bathroom townhouse apartments situated on a level lot near downtown Novato. Located on the desirable far west side of the downtown area, the property offers convenient access to local amenities. Constructed in 1979, the wood-frame, two-story building rests on a concrete perimeter foundation and is covered by a composition roof. Each apartment includes individual laundry rooms and a private, fenced-in backyard area. Ample off-street parking is provided, with each apartment having two spaces: one carport and one open space. The property has been well-cared for. The lot size is 0.1719 acres. The building shares an easement driveway with the neighboring building, which is also available for sale. The property size is 4004 square feet.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $204.2k $51.00
    − Vacancy −$12.2k −$3.05
    EGI $192.0k $47.95
    − OpEx −$57.6k −$14.39
    NOI $134.4k $33.57
    4,004 SF · lease $51.00/SF/yr · vacancy 5.98% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $1.92M
    $1.68M – $2.24M (±1% cap)
    NOI $134,395 @ 7.0% cap · market cap 8.40%
    Second Best
    Apartment 5plus
    $828.6K
    $725.0K – $966.7K (±1% cap)
    NOI $58,002 @ 7.0% cap · market cap 3.63%
    Theoretical Best
    Specialty Retail
    $19.56M
    $17.11M – $22.82M (±1% cap)
    NOI $1,369,053 @ 7.0% cap · market cap 85.57%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    avilas painting Painting

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Novato
    County
    Marin
    State
    California
    Longitude
    -122.5774997
    Latitude
    38.1109081

    Nearby Similar for Sale

    • $550,000
      3,352 SF

      Novato Commercial Condominium Opportunity

      Commercial condominiums ideal for medical/dental offices in Novato, CA.
      1615 Hill Road, Novato, CA 94947
      View Details
    • $1,650,000
      4,004 SF

      Novato Quadruplex with Private Yards

      Four townhouse-style apartments with individual laundry and private yards.
      1052 7th Street, Novato, CA 94945
      View Details
    • $550,000
      3,352 SF

      Novato Commercial Condominiums For Sale

      Commercial condominiums ideal for medical/dental offices with ample parking.
      1615 Hill #23, Novato, CA 94947
      View Details
    • $875,000
      3,150 SF

      Office/Warehouse Condo in Business Park

      Office/warehouse condo with roll-up door and highway access.
      285 Bel Marin Keys #O, Novato, CA 94949
      View Details
    • $904,000
      3,234 SF

      Novato Office Building For Sale

      Office building with 3234 square feet available for purchase.
      1615 Hill Rd, Novato, CA 94945
      View Details
    • $550,000
      1,840 SF

      Bel Marin Keys Commercial Unit

      Commercial unit in Bel Marin Keys business area.
      7 Pamaron #2, Novato, CA 94949
      View Details
    • $1,825,000
      10,148 SF

      Refurbished Office Building For Sale

      Refurbished office building with executive suites and long-term tenants.
      250 Bel Marin Keys Blvd, Novato, CA
      View Details
    • $2,000,000
      8,170 SF

      Novato Office Building For Sale

      Well-maintained, fully leased office building in Novato's Galli Square.
      330 Ignacio Blvd, Novato, CA
      View Details
    • $661,250
      2,168 SF

      Mixed-Use Flex Space in Novato

      Flexible commercial property with office and warehouse space in Novato.
      14 Commercial #131 &, Novato, CA 94949
      View Details
    • $1,625,000

      Turn-Key Novato 4-Plex Townhouses

      Well-maintained 4-plex near Highway 101 in Novato, CA.
      46 Grass Ct, Novato, CA 94949
      View Details
    • $3,900,000
      10,874 SF

      Downtown Core Retail Property

      Located in the CDR zoning downtown core retail area.
      1320 Grant Ave, Novato, CA
      View Details
    • $2,850,000
      10,180 SF

      Office/Warehouse Condos in Business Park

      Three connected office/warehouse condos with flexible layout and convenient highway access.
      285 Bel Marin Keys #O,P,Q, Novato, Novato, CA 94949
      View Details

    FAQs

    What type of property is this?
    Quadplex - Four townhouse apartments with private yards near downtown Novato.
    Where is this quadplex located?
    The property is located at 1048 7th Street Novato, CA.
    What is the asking price?
    The asking price for this property is $1,600,000.
    What are key features of this property?
    This property features: Four 2BR/1.5BA Townhouse apartments; Individual laundry rooms in each apartment; Private fenced backyard for each apartment
    (415) 384-4008
    We can help!
    Listing Contact
    Pamela Burke
    Pamela Burke
    Real Estate License ID: 02156257
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1048 7th Street, Novato, CA 94945
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!