33-Unit Apartment Building with
2555 Sir Francis Drake Blvd, Fairfax, CA 94930
For Sale
New
$8,300,000
Two-story community with a central pool, on-site laundry, and a mix of one- and two-bedroom apartments.
Property Size22,968 SF
Lot Size1.27 Acres
Days on Market6
Property Features for 2555 Sir Francis Drake Blvd
General Information
Standard status
Size
Lot size
Property subtype
Units
Unit Mix
Multifamily Units
Amenities
swimming pool
professional front lobby
on-site manager's office
coin-operated laundry facilities
dedicated bike parking
shared storage
maintenance room
central courtyard
private balconies
private patios
Building Details
Building Size
Year Built
Buildings
Stories
Units
Construction
Listed By:
Katherine Y Raphael
(415) 259-9891
Source:
Elliman
Added: Nov 4
Changed: Nov 7
Last Checked: Nov 8 at 7:12AM
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 Katherine Y Raphael
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Investment Insights
Based on property information with market context.
This 33-unit apartment property occupies 1.27 acres in Fairfax. The two-story stucco building includes 24 one-bedroom, one-bath apartments and 9 two-bedroom, one-bath apartments, arranged around a central courtyard with a swimming pool. Common-area features include a lobby, an on-site manager’s office, coin-operated laundry, bicycle parking, shared storage, and a maintenance room with a half bath. Some apartments have private balconies or patios, and parking is available on site.
Capital work includes a newer rolled-composition roof, dual-pane windows, new water heaters, refreshed exterior paint, resurfaced parking, upgraded electrical subpanels, and interior updates in approximately 28 apartments. Balcony and walkway work was completed for SB721 compliance. The property was built in 1959 and is located at 2555 Sir Francis Drake Blvd in Fairfax, California.
Capital work includes a newer rolled-composition roof, dual-pane windows, new water heaters, refreshed exterior paint, resurfaced parking, upgraded electrical subpanels, and interior updates in approximately 28 apartments. Balcony and walkway work was completed for SB721 compliance. The property was built in 1959 and is located at 2555 Sir Francis Drake Blvd in Fairfax, California.
Key Highlights
- 33 apartments on a 1.27‑acre parcel
- Unit mix: 24 one‑bedroom, one‑bath units and 9 two‑bedroom, one‑bath units
- Central courtyard with swimming pool
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$332,716
Cap Rate
4.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,654,320
$6.7M
Cap Rate 7%
$4,753,086
$4.8M
Cap Rate 9%
$3,696,844
$3.7M
Market Conditions
NOI Build-Up for 22,968 SF
Gross rent
$642.2K $27.96/SF
− Vacancy
−$37.2K −$1.62/SF
EGI
$604.9K $26.34/SF
− OpEx
−$272.2K −$11.85/SF
NOI
$332.7K $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 Rate 5%
$6,654,320
Cap Rate 7%
$4,753,086
Cap Rate 9%
$3,696,844
Alternative Uses
Best Use
Apartment 5plus
$4.75M
$4.16M – $5.55M
NOI $332,716 @ 7.0% cap · market cap 4.01%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$11.01M
$9.64M – $12.85M
NOI $770,924 @ 7.0% cap · market cap 9.29%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
33
Residential units
Location Intelligence
Trade Area within ½ mile
231
Businesses Nearby
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Business Placement
Demographics for 94930, CA
8,729
Population
3,729
Households
2.3
Avg Household Size
49
Median Age
66%
College-Educated
97%
High-School Grad
14.2 sq mi
ZIP Area
615
Density / Sq Mi
$136,341
Median Household Income
$65,945
Median Earnings
$2,314
Median Rent
$1,152,100
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Marin County, CA
Properties on Market for Apartment buildings in Marin County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Two-story community with a central pool, on-site laundry, and a mix of one- and two-bedroom apartments.
Where is this apartment building located?
The property is located at 2555 Sir Francis Drake Blvd Fairfax, CA.
What is the asking price?
The asking price for this property is $8,300,000.
What are key features of this property?
This property features: 33 apartments on a 1.27‑acre parcel; Unit mix: 24 one‑bedroom, one‑bath units and 9 two‑bedroom, one‑bath units; Central courtyard with swimming pool
