18-Unit Apartment
247 D ST San Rafael, CA 94901
247 D ST, San Rafael, CA, 94901
$6,110,000
For Sale
$6,110,000
Pride-of-ownership 18-unit apartment building in a single three-story structure with twelve one-bed and six two-bed units.
Property Size13,040 SF
Lot Size0.04 Acres
Price / SF$468.56
Days on Market37
Property Features for 247 D ST
General Information
- Standard status
- Active
- Size
- 13,040 SF
- Lot size
- 0.04 Acres
- Property subtype
- Multi Family
Building Details
- Year Built
- 1965
Listing agency
CBRE, Inc.
(408) 893-8063
Listed by
Adam Foley · License #02144332
(408) 893-8063
Source
Exitrealty
Added: Jun 16 Updated: Jul 20 at 6:32PM Checked: Jul 21 at 5:41AM
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 CBRE, Inc.
Investment Insights
Based on property information with market context.
Del Mesa Apartments is an 18-unit multifamily investment opportunity in San Rafael, built as a single three-story apartment structure. The current unit mix includes twelve (12) one-bedroom, one-bathroom units and six (6) two-bedroom, one-bathroom units. The property has been well maintained, with meaningful renovations completed over the last decade and continued opportunity through in-unit upgrades and bringing remaining units toward market rents.
The building is located at 247 D ST in the Gerstle Park neighborhood. The setting is described as residential in character, with mature tree canopy and well-maintained streetscapes.
For buyers or operators seeking a straightforward 18-unit structure with an established one- and two-bedroom mix, Del Mesa Apartments offers an ownership-managed asset with a documented renovation history and additional room for continued unit improvements.
The building is located at 247 D ST in the Gerstle Park neighborhood. The setting is described as residential in character, with mature tree canopy and well-maintained streetscapes.
For buyers or operators seeking a straightforward 18-unit structure with an established one- and two-bedroom mix, Del Mesa Apartments offers an ownership-managed asset with a documented renovation history and additional room for continued unit improvements.
Key Highlights
- 18‑unit multifamily property in a single three‑story building
- Unit mix includes 12 one‑bedroom, one‑bath units and 6 two‑bedroom, one‑bath units
- Year built: 1965
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 | $364.6k | $27.96 |
| − Vacancy | −$21.1k | −$1.62 |
| EGI | $343.5k | $26.34 |
| − OpEx | −$154.6k | −$11.85 |
| NOI | $188.9k | $14.49 |
13,040 SF · lease $27.96/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.70M
$2.36M – $3.15M
NOI $188,898 @ 7.0% cap · market cap 3.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$63.70M
$55.73M – $74.31M
NOI $4,458,653 @ 7.0% cap · market cap 72.97%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Jewelry Fetish Designs
(Bike/Boat/Book/etc) Store
SENTICOM
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Pride-of-ownership 18-unit apartment building in a single three-story structure with twelve one-bed and six two-bed units.
Where is this apartment building located?
The property is located at 247 D ST San Rafael, CA.
What is the asking price?
The asking price for this property is $6,110,000.
What are key features of this property?
This property features: 18‑unit multifamily property in a single three‑story building; Unit mix includes 12 one‑bedroom, one‑bath units and 6 two‑bedroom, one‑bath units; Year built: 1965
