12-Unit Apartment
3 Circle Dr, Tiburon, CA 94920
For Sale
New
$5,250,000
Private decks accompany each residence, with community amenities including a pool, bocce court, laundry, and elevator access.
Property Size11,508 SF
Days on Market4
Property Features for 3 Circle Dr
General Information
Standard status
Size
Total Parking Spaces
Elevators
Property subtype
Site & Location
Highway Access
Public Transit
Units
Unit Mix
Multifamily Units
Amenities
swimming pool
bocce court
landscaped courtyard
common laundry facility
private deck
dishwasher
forced-air heating
walk-in closet
fireplace
storage closet
Building Details
Building Size
Year Built
Buildings
Units
Construction
Listing Agency:
Marcus & Millichap - San Francisco
Listed By:
John W Garrett · License #(S):CA:01421403
(415) 652-8431
Source:
Elliman
Added: Nov 6
Changed: Nov 7
Last Checked: Nov 8 at 6:33AM
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 - San Francisco
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Investment Insights
Based on property information with market context.
Three wood-frame apartment buildings with stucco exteriors and composite-shingle roofs contain 12 residences. The mix comprises three one-bedroom/one-bath units, seven two-bedroom/two-bath units, and two three-bedroom/two-bath units. Apartments feature dishwashers, forced-air heat, walk-in closets, and individual decks; the three-bedroom units also have fireplaces. The property was built in 1964 and includes covered and surface parking, plus a dedicated storage closet for each apartment.
The apartments are part of Tiburon View Apartments, an HOA encompassing seven investor-owned properties and 68 residences. Shared facilities include a swimming pool, bocce court, landscaped courtyard, laundry room, and elevator. HOA dues cover insurance, water, garbage, and common-area maintenance. The property is in Tiburon, with ferry service to San Francisco and Highway 101 nearby; shopping, restaurants, and grocery stores are a short drive away.
Some apartments have been remodeled, while others remain candidates for renovation. Rents are below market, and the property has minimal deferred maintenance.
The apartments are part of Tiburon View Apartments, an HOA encompassing seven investor-owned properties and 68 residences. Shared facilities include a swimming pool, bocce court, landscaped courtyard, laundry room, and elevator. HOA dues cover insurance, water, garbage, and common-area maintenance. The property is in Tiburon, with ferry service to San Francisco and Highway 101 nearby; shopping, restaurants, and grocery stores are a short drive away.
Some apartments have been remodeled, while others remain candidates for renovation. Rents are below market, and the property has minimal deferred maintenance.
Key Highlights
- 12 apartments across three buildings, built in 1964
- Unit mix: (3) one‑bedroom/one‑bath, (7) two‑bedroom/two‑bath, and (2) three‑bedroom/two‑bath residences
- Private deck at every apartment; fireplaces in the three‑bedroom units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$166,706
Cap Rate
3.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,334,120
$3.3M
Cap Rate 7%
$2,381,514
$2.4M
Cap Rate 9%
$1,852,289
$1.9M
Market Conditions
NOI Build-Up for 11,508 SF
Gross rent
$321.8K $27.96/SF
− Vacancy
−$18.7K −$1.62/SF
EGI
$303.1K $26.34/SF
− OpEx
−$136.4K −$11.85/SF
NOI
$166.7K $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%
$3,334,120
Cap Rate 7%
$2,381,514
Cap Rate 9%
$1,852,289
Alternative Uses
Best Use
Apartment 5plus
$2.38M
$2.08M – $2.78M
NOI $166,706 @ 7.0% cap · market cap 3.18%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$5.52M
$4.83M – $6.44M
NOI $386,268 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
12
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
245
Businesses Nearby
Explore this area
Business Placement
Demographics for 94920, CA
13,010
Population
5,778
Households
2.3
Avg Household Size
49
Median Age
80%
College-Educated
99%
High-School Grad
6.5 sq mi
ZIP Area
2,002
Density / Sq Mi
$238,304
Median Household Income
$95,634
Median Earnings
$3,501
Median Rent
$2,000,001
Median Home Value
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Market
Average Price Trend$/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 - Private decks accompany each residence, with community amenities including a pool, bocce court, laundry, and elevator access.
Where is this apartment building located?
The property is located at 3 Circle Dr Tiburon, CA.
What is the asking price?
The asking price for this property is $5,250,000.
What are key features of this property?
This property features: 12 apartments across three buildings, built in 1964; Unit mix: (3) one‑bedroom/one‑bath, (7) two‑bedroom/two‑bath, and (2) three‑bedroom/two‑bath residences; Private deck at every apartment; fireplaces in the three‑bedroom units
