Two-Story Duplex with Private
For Sale
$1,200,000
Pending
236 C St, San Rafael, CA 94901
Side-by-side townhouse-style units feature private decks, dual-pane windows, and separate laundry rooms.
Property Size3,354 SF
Days on Market21
Property Features for 236 C St
General Information
Standard status
Pending
Size
3,354 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Building Details
Buildings
1
Stories
2
Listing Agency:
Marcus & Millichap
(415) 424-8201
Listed By:
Ernesto A. Baglieri
(415) 424-8201
Source:
Exprealty
Added: Aug 3
Changed: Aug 20
Last Checked: Aug 23 at 8:03AM
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 Marcus & Millichap
Investment Insights
Based on property information with market context.
Located at 236 C St in San Rafael’s Gerstle Park neighborhood, this duplex contains two matching townhouse-style residences totaling 3,354 square feet. Each unit offers 1,677 square feet across two levels, with two bedrooms and 1.5 bathrooms.
The main level includes an open kitchen, dining space, half bathroom, and elevated living room with access to a rear private deck. Upstairs, each residence has two oversized bedrooms, multiple closets, a full bathroom, linen storage, and a separate laundry room. The front bedroom opens to an additional deck overlooking the tree-lined street. Dual-pane windows are installed throughout, and the roof is 6 years old. Downtown San Rafael is within walking distance.
The main level includes an open kitchen, dining space, half bathroom, and elevated living room with access to a rear private deck. Upstairs, each residence has two oversized bedrooms, multiple closets, a full bathroom, linen storage, and a separate laundry room. The front bedroom opens to an additional deck overlooking the tree-lined street. Dual-pane windows are installed throughout, and the roof is 6 years old. Downtown San Rafael is within walking distance.
Key Highlights
- Two‑unit duplex with 3,354 total square feet
- Each residence measures 1,677 square feet with 2 bedrooms and 1.5 bathrooms
- Two‑story townhouse‑style floor plans with open kitchens and elevated living rooms
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
$48,586
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
4.05%
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%
$971,720
$971.7K
Cap Rate 7%
$694,086
$694.1K
Cap Rate 9%
$539,844
$539.8K
Market Conditions
NOI Build-Up for 3,354 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
$93.8K $27.96/SF
− Vacancy
−$5.4K −$1.62/SF
EGI
$88.3K $26.34/SF
− OpEx
−$39.8K −$11.85/SF
NOI
$48.6K $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%
$971,720
Cap Rate 7%
$694,086
Cap Rate 9%
$539,844
Alternative Uses
Best Use
Multifamily LT 5
$1.61M
$1.41M – $1.88M
NOI $112,577 @ 7.0% cap · market cap 9.38%
Second Best
Apartment 5plus
$694.1K
$607.3K – $809.8K
NOI $48,586 @ 7.0% cap · market cap 4.05%
Theoretical Best
Specialty Retail
$16.38M
$14.34M – $19.11M
NOI $1,146,804 @ 7.0% cap · market cap 95.57%
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
1,923
Businesses Nearby
Explore this area
Business Placement
Demographics for 94901, CA
43,338
Population
16,412
Households
2.6
Avg Household Size
40
Median Age
48%
College-Educated
82%
High-School Grad
13.1 sq mi
ZIP Area
3,308
Density / Sq Mi
$108,837
Median Household Income
$50,122
Median Earnings
$2,229
Median Rent
$1,369,500
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 - Side-by-side townhouse-style units feature private decks, dual-pane windows, and separate laundry rooms.
Where is this duplex located?
The property is located at 236 C St San Rafael, CA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Two‑unit duplex with 3,354 total square feet; Each residence measures 1,677 square feet with 2 bedrooms and 1.5 bathrooms; Two‑story townhouse‑style floor plans with open kitchens and elevated living rooms
