Five-Unit Apartment Building with Private Outdoor
For Sale
$1,995,000
1562 Sir Francis Drake Blvd, San Anselmo, CA 94960
Five-unit apartment building offering a tenant-friendly mix of two 2-bedroom units and three 1-bedroom units.
Property Size4,220 SF
Days on Market35
Property Features for 1562 Sir Francis Drake Blvd
General Information
Standard status
Active
Size
4,220 SF
Property subtype
Investment
Units
Unit Mix
2 x 2BR/1BA, 3 x 1BR/1BA
Multifamily Units
5
Additional Details
Highway Access
Yes
Amenities
covered parking
individual tenant storage
on-site laundry facilities
private landscaped outdoor area
front deck
fireplace
Building Details
Building Size
4,220 SF
Year Built
1963
Units
5
Listing Agency:
Berkshire Hathaway
(415) 747-2150
Listed By:
Steven Level · License #01184232
(415) 747-2150
Source:
Elliman
Added: Jul 28
Changed: Aug 8
Last Checked: Aug 30 at 10:01PM
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 Berkshire Hathaway
Investment Insights
Based on property information with market context.
This well-maintained five-unit apartment building was built in 1963 and features two spacious 2-bedroom, 1-bath units and three 1-bedroom, 1-bath units. Each unit includes its own front deck, and the two 2-bedroom units are further distinguished by fireplaces.
The property includes covered parking, individual tenant storage, on-site laundry facilities, and a private landscaped outdoor area. Residents also benefit from a practical layout for everyday living with dedicated outdoor space for each unit.
Located at 1562 Sir Francis Drake Blvd in San Anselmo, the building sits between downtown San Anselmo and downtown Fairfax. The area provides convenient access to restaurants, cafés, retail amenities, parks, and transportation options. For commuting, residents have access to San Francisco via Highway 101 and the Golden Gate Bridge. Walking is limited (walkScore 2, car-dependent) while biking is somewhat supported (bikeScore 20).
The property includes covered parking, individual tenant storage, on-site laundry facilities, and a private landscaped outdoor area. Residents also benefit from a practical layout for everyday living with dedicated outdoor space for each unit.
Located at 1562 Sir Francis Drake Blvd in San Anselmo, the building sits between downtown San Anselmo and downtown Fairfax. The area provides convenient access to restaurants, cafés, retail amenities, parks, and transportation options. For commuting, residents have access to San Francisco via Highway 101 and the Golden Gate Bridge. Walking is limited (walkScore 2, car-dependent) while biking is somewhat supported (bikeScore 20).
Key Highlights
- Five units with two 2‑bedroom, 1‑bath units and three 1‑bedroom, 1‑bath units
- Each unit has its own front deck; 2‑bedroom units include fireplaces
- Covered parking plus individual tenant storage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$61,131
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.06%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,222,620
$1.2M
Cap Rate 7%
$873,300
$873.3K
Cap Rate 9%
$679,233
$679.2K
Market Conditions
NOI Build-Up for 4,220 SF
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.
Gross rent
$118.0K $27.96/SF
− Vacancy
−$6.8K −$1.62/SF
EGI
$111.1K $26.34/SF
− OpEx
−$50.0K −$11.85/SF
NOI
$61.1K $14.49/SF
Area
Marin County, CA
Vacancy
5.80%
Lease Rate
$27.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,222,620
Cap Rate 7%
$873,300
Cap Rate 9%
$679,233
Alternative Uses
Best Use
Apartment 5plus
$873.3K
$764.1K – $1.02M
NOI $61,131 @ 7.0% cap · market cap 3.06%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$20.61M
$18.04M – $24.05M
NOI $1,442,908 @ 7.0% cap · market cap 72.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
846
Businesses Nearby
Explore this area
Business Placement
Demographics for 94960, CA
15,920
Population
6,641
Households
2.4
Avg Household Size
47
Median Age
73%
College-Educated
98%
High-School Grad
5.9 sq mi
ZIP Area
2,698
Density / Sq Mi
$172,332
Median Household Income
$84,644
Median Earnings
$2,838
Median Rent
$1,589,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Five-unit apartment building offering a tenant-friendly mix of two 2-bedroom units and three 1-bedroom units.
Where is this apartment building located?
The property is located at 1562 Sir Francis Drake Blvd San Anselmo, CA.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Five units with two 2‑bedroom, 1‑bath units and three 1‑bedroom, 1‑bath units; Each unit has its own front deck; 2‑bedroom units include fireplaces; Covered parking plus individual tenant storage
