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San Rafael Multifamily Investment Opportunity

16 Marian Court San Rafael, CA 94901

16 Marian Court, San Rafael, CA, 94901

$2,450,000

For Sale

$2,450,000

Two-building property with below-market rents and value-add potential.

Property Size8,568 SF

Price / SF$285.95

AddedNov 21, 2025

Days on Market235

Last RefreshMay 19 at 8:29 pm

Property Features for 16 Marian Court

General Information

Standard status: Active
Size: 8,568 SF
Property subtype: Multifamily

Building Details

Year Built: 1971

Listing office Ground Matrix

Listing date Nov 21, 2025

Source Groundmatrix

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of Ground Matrix

Investment Insights

Based on property information with market context.

Constructed in 1971, this property features two buildings comprising seven 1-bedroom units and four 2-bedroom units. Ground-floor units include private fenced yards, while second-floor units offer spacious balconies. The current rents are below market value, presenting an opportunity to increase net operating income through annual rent increases. The property is located in a Federal Opportunity Zone, offering potential capital gains incentives for investors. Situated in the Canal district of San Rafael, the property is directly adjacent to the San Rafael Creek. Its location provides convenient access to HWY 101 and 580, facilitating travel to the Richmond-San Rafael bridge and San Francisco, while remaining approximately 2 miles from downtown San Rafael. The property is located on a quiet cul-de-sac and offers on-site and street parking for tenants. The property has stable tenancy with over 5 years without vacancy. There are 14 parking spaces. On-site management is available. The rent increase moratorium is expected to end December 31, 2021.

Key Highlights

Federal Opportunity Zone provides unique capital gains incentives.
Opportunity to increase Net Operating Income (NOI) through raising below‑market rents.
Convenient location near HWY 101 and 580, providing easy access to transportation.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$239.6k	$27.96
− Vacancy	−$13.9k	−$1.62
EGI	$225.7k	$26.34
− OpEx	−$101.6k	−$11.85
NOI	$124.1k	$14.49

8,568 SF · lease $27.96/SF/yr · vacancy 5.80% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$1.77M

$1.55M – $2.07M (±1% cap)

NOI $124,117 @ 7.0% cap · market cap 5.07%

Second Best

—

no second resolved use

Theoretical Best

Specialty Retail

$41.85M

$36.62M – $48.83M (±1% cap)

NOI $2,929,581 @ 7.0% cap · market cap 119.57%

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

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

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For sale
Apartment buildings
CA
San Rafael
94901
16 Marian Court

What type of property is this?

Apartment building - Two-building property with below-market rents and value-add potential.

Where is this apartment building located?

The property is located at 16 Marian Court San Rafael, CA.

What is the asking price?

The asking price for this property is $2,450,000.

What are key features of this property?

This property features: Federal Opportunity Zone provides unique capital gains incentives.; Opportunity to increase Net Operating Income (NOI) through raising below‑market rents.; Convenient location near HWY 101 and 580, providing easy access to transportation.