San Rafael Multifamily Investment
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
Days on Market238
Property Features for 16 Marian Court
General Information
- Standard status
- Active
- Size
- 8,568 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1971
Listing Agency
Ground Matrix
(707) 570-7802
Listed by
Jerry Adamson · License #CalDRE #01935945
Source
Groundmatrix
Added: Nov 21, 2025 Checked: Jul 17 at 4:02 am
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
- 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 | $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
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
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
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FAQs
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.
