Renovated Loft-Style
For Sale
$1,000,000
2 Florence Avenue San, San Anselmo, CA 94960
Two attached one-bedroom units feature tall ceilings, large windows, and in-unit laundry.
Property Size1,434 SF
Days on Market184
Property Features for 2 Florence Avenue San
General Information
Standard status
Active
Size
1,434 SF
Property subtype
Duplex
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
in-unit washer/dryer
Central
Gas
Wall Furnace
Tar/Gravel
Building Details
Building Size
1,434 SF
Year Built
1927
Buildings
1
Listing Agency:
Coldwell Banker Realty
Listed By:
Kevin Kearney
(973) 600-7198
Source:
Kw
Added: Feb 28
Changed: Aug 30
Last Checked: Aug 31 at 1:15AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Built in 1927, this attached duplex contains two renovated loft-style residences, each configured with one bedroom and one bathroom. The property began as a warehouse and now combines distinctive vintage character with updated residential functionality. Interior details include 14-foot ceilings, expansive windows, old-growth hardwood flooring, and stacked washer and dryer units within each space. One unit is zoned commercial, adding flexibility to the property’s configuration.
The property is located in the Landsdale Station area of San Anselmo, near downtown San Anselmo and Fairfax. Shops, cafes, and public transportation are nearby, placing everyday services and transit options within the surrounding area.
The property is located in the Landsdale Station area of San Anselmo, near downtown San Anselmo and Fairfax. Shops, cafes, and public transportation are nearby, placing everyday services and transit options within the surrounding area.
Key Highlights
- Two attached loft‑style units, each with 1 bedroom and 1 bathroom
- One unit is zoned commercial
- 14‑foot ceilings and expansive windows
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
$48,132
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
4.81%
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%
$962,640
$962.6K
Cap Rate 7%
$687,600
$687.6K
Cap Rate 9%
$534,800
$534.8K
Market Conditions
NOI Build-Up for 1,434 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
$73.1K $51.00/SF
− Vacancy
−$4.4K −$3.05/SF
EGI
$68.8K $47.95/SF
− OpEx
−$20.6K −$14.39/SF
NOI
$48.1K $33.57/SF
Area
Marin County, CA
Vacancy
5.98%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
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%
$962,640
Cap Rate 7%
$687,600
Cap Rate 9%
$534,800
Alternative Uses
Best Use
Multifamily LT 5
$687.6K
$601.7K – $802.2K
NOI $48,132 @ 7.0% cap · market cap 4.81%
Second Best
Apartment 5plus
$296.8K
$259.7K – $346.2K
NOI $20,773 @ 7.0% cap · market cap 2.08%
Theoretical Best
Specialty Retail
$7.00M
$6.13M – $8.17M
NOI $490,315 @ 7.0% cap · market cap 49.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
592
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?
Duplex - Two attached one-bedroom units feature tall ceilings, large windows, and in-unit laundry.
Where is this duplex located?
The property is located at 2 Florence Avenue San San Anselmo, CA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Two attached loft‑style units, each with 1 bedroom and 1 bathroom; One unit is zoned commercial; 14‑foot ceilings and expansive windows
