San Rafael Multifamily Investment
16 Marian Court San Rafael, CA 94901
16 Marian Court, San Rafael, CA, 94901
$2,650,000
For Sale
$2,650,000
Eleven-unit apartment building in San Rafael, California.
Property Size8,568 SF
Price / SF$309.29
Days on Market153
Property Features for 16 Marian Court
General Information
- Standard status
- Active
- Size
- 8,568 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1971
Listing Agency
JEFREY HENDERSON, BROKER
(408) 453-7461
Listed by
JEFREY HENDERSON · License #01483399
Source
Corcoran
Added: Feb 17 Checked: Jul 19 at 4:47 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 JEFREY HENDERSON, BROKER
Investment Insights
Based on property information with market context.
The property at 16 Marian Court in San Rafael, California, consists of an eleven-unit apartment building. The unit mix includes seven one-bedroom, one-bathroom floor plans and four two-bedroom, one-bathroom floor plans. The property is positioned to appeal to the target demographic. Current rents are reportedly below market rates, presenting an opportunity for investors to increase value.
Key Highlights
- Value‑add opportunity with potential to increase rents by $500 per unit.
- Opportunity to achieve a 6.18% cap rate through rent stabilization.
- Additional $250+ per unit in renovation premiums.
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 4.68%
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 110.55%
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 - Eleven-unit apartment building in San Rafael, California.
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 $2,650,000.
What are key features of this property?
This property features: Value‑add opportunity with potential to increase rents by $500 per unit.; Opportunity to achieve a 6.18% cap rate through rent stabilization.; Additional $250+ per unit in renovation premiums.
