Two-Unit Duplex with Enclosed
For Sale
$1,490,000
310 Belle Ave, San Rafael, CA 94901
Updated duplex with private outdoor areas, in-unit laundry, landscaped grounds, and dedicated parking for each residence.
Property Size3,312 SF
Days on Market50
Property Features for 310 Belle Ave
General Information
Standard status
Active
Size
3,312 SF
Property subtype
Investment
Units
Unit Mix
2BR/1BA
Parking per Unit
2
Amenities
in-unit laundry
storage
private outdoor area
spacious enclosed deck
landscaped grounds
Building Details
Building Size
3,312 SF
Year Built
1977
Stories
2
Units
3
Listed By:
Vince Gramalia
(415) 246-5924
Source:
Elliman
Added: Sep 5
Changed: Oct 18
Last Checked: Oct 23 at 9:17AM
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 Vince Gramalia
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Investment Insights
Based on property information with market context.
Built in 1977, this duplex contains two occupied residences, each offering just over 1,000 square feet with two bedrooms, one bathroom, in-unit laundry, and storage. Both units include private outdoor space, while the upper residence also features a spacious enclosed deck. Recent improvements include new gas water heaters, and the property has been maintained and updated over time.
The grounds include mature landscaping, established bushes, and fruit trees. Each unit is assigned two on-site parking spaces. The property is near downtown San Rafael shopping and services as well as Dominican University. Transportation context includes a Walk Score of 61, a Bike Score of 71, and a Transit Score of 39.
The grounds include mature landscaping, established bushes, and fruit trees. Each unit is assigned two on-site parking spaces. The property is near downtown San Rafael shopping and services as well as Dominican University. Transportation context includes a Walk Score of 61, a Bike Score of 71, and a Transit Score of 39.
Key Highlights
- Two occupied units, each with just over 1,000 square feet
- Each residence includes 2 bedrooms, 1 bathroom, in‑unit laundry, and storage
- Private outdoor area for each unit; upper unit has a spacious enclosed deck
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$111,168
Cap Rate
7.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,223,360
$2.2M
Cap Rate 7%
$1,588,114
$1.6M
Cap Rate 9%
$1,235,200
$1.2M
Market Conditions
NOI Build-Up for 3,312 SF
Gross rent
$168.9K $51.00/SF
− Vacancy
−$10.1K −$3.05/SF
EGI
$158.8K $47.95/SF
− OpEx
−$47.6K −$14.39/SF
NOI
$111.2K $33.57/SF
Area
Marin County, CA
Vacancy
5.98%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,223,360
Cap Rate 7%
$1,588,114
Cap Rate 9%
$1,235,200
Alternative Uses
Best Use
Multifamily LT 5
$1.59M
$1.39M – $1.85M
NOI $111,168 @ 7.0% cap · market cap 7.46%
Second Best
Apartment 5plus
$685.4K
$599.7K – $799.6K
NOI $47,978 @ 7.0% cap · market cap 3.22%
Theoretical Best
Specialty Retail
$16.18M
$14.16M – $18.87M
NOI $1,132,443 @ 7.0% cap · market cap 76.00%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
2,032
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Updated duplex with private outdoor areas, in-unit laundry, landscaped grounds, and dedicated parking for each residence.
Where is this duplex located?
The property is located at 310 Belle Ave San Rafael, CA.
What is the asking price?
The asking price for this property is $1,490,000.
What are key features of this property?
This property features: Two occupied units, each with just over 1,000 square feet; Each residence includes 2 bedrooms, 1 bathroom, in‑unit laundry, and storage; Private outdoor area for each unit; upper unit has a spacious enclosed deck
