Residential Income
For Sale
$350,000
Pending
25 Oceano Place, Novato, CA 94949
For sale residential income property in Marin County, accessed via Hwy 101 Ignacio/BMK exit and entry drives within the park.
Property Size1,260 SF
Days on Market110
Property Features for 25 Oceano Place
General Information
Standard status
Pending
Size
1,260 SF
Total Parking Spaces
2
Property subtype
Manufactured In Park / Double Wide
Amenities
Window Unit(s)
Central
2
Carpet, Vinyl
2.0
Yes
Baths Other, Dining Room, Kitchen, Laundry, Living Room, Primary Bedroom
Dishwasher, Disposal, Free Standing Gas Range, Gas Water Heater, Microwave
Shower Stall(s), Tub w/Shower Over
1
Dual Pane Full
Breakfast Area, Laminate Counter, Pantry Cabinet
Dryer Included, Inside Room, Washer Included
Cathedral Ceiling
Gas Log, Insert, Living Room
Formal Area
Cathedral/Vaulted
Composition
Porch, Uncovered Patio
Building Details
Year Built
2011
Listing Agency:
Compass
Listed By:
Kevin McGinnis · License #01793143
(415) 725-1911
Source:
Compass
Added: May 26
Changed: Sep 10
Last Checked: Sep 12 at 11:36AM
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 Compass
Investment Insights
Based on property information with market context.
This for-sale residential income property is associated with mobile home and RV park use as well as multifamily and residential income classifications based on the provided listing information.
The property is located at 25 Oceano Place in Novato, California, within Marin County. Directions in the listing indicate taking Hwy 101 to the Ignacio/BMK exit, then proceeding via R Nave Dr and L Roblar Dr to enter the park, continuing to L La Crescenta Cir and R Oceano.
The available information does not specify unit mix, improvements, or on-site configurations beyond the listed property types and the park access described in the directions.
The property is located at 25 Oceano Place in Novato, California, within Marin County. Directions in the listing indicate taking Hwy 101 to the Ignacio/BMK exit, then proceeding via R Nave Dr and L Roblar Dr to enter the park, continuing to L La Crescenta Cir and R Oceano.
The available information does not specify unit mix, improvements, or on-site configurations beyond the listed property types and the park access described in the directions.
Key Highlights
- Residential income property in Marin County, accessed via Hwy 101 Ignacio/BMK exit and entry drives within the park
- Built in 2011
- Central heating with a fireplace insert and gas log fireplace in the living room
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
$18,252
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
5.21%
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%
$365,040
$365.0K
Cap Rate 7%
$260,743
$260.7K
Cap Rate 9%
$202,800
$202.8K
Market Conditions
NOI Build-Up for 1,260 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
$35.2K $27.96/SF
− Vacancy
−$2.0K −$1.62/SF
EGI
$33.2K $26.34/SF
− OpEx
−$14.9K −$11.85/SF
NOI
$18.3K $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%
$365,040
Cap Rate 7%
$260,743
Cap Rate 9%
$202,800
Alternative Uses
Best Use
Apartment 5plus
$260.7K
$228.2K – $304.2K
NOI $18,252 @ 7.0% cap · market cap 5.21%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.15M
$5.39M – $7.18M
NOI $430,821 @ 7.0% cap · market cap 123.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,413
Businesses Nearby
Explore this area
Business Placement
Demographics for 94949, CA
17,588
Population
7,541
Households
2.3
Avg Household Size
46
Median Age
48%
College-Educated
93%
High-School Grad
13.4 sq mi
ZIP Area
1,313
Density / Sq Mi
$116,101
Median Household Income
$60,149
Median Earnings
$2,596
Median Rent
$1,075,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Mobile home & RV park - For sale residential income property in Marin County, accessed via Hwy 101 Ignacio/BMK exit and entry drives within the park.
Where is this mobile home & rv park located?
The property is located at 25 Oceano Place Novato, CA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Residential income property in Marin County, accessed via Hwy 101 Ignacio/BMK exit and entry drives within the park; Built in 2011; Central heating with a fireplace insert and gas log fireplace in the living room
