Triplex with Private
New
For Sale
$2,150,000
40-44 Elizabeth Way, San Rafael, CA 94901
Three residences offer in-unit laundry, storage, and garage access for each household.
Property Size2,632 SF
Days on Market5
Property Features for 40-44 Elizabeth Way
General Information
Standard status
Active
Size
2,632 SF
Property subtype
Investment
Units
Unit Mix
2 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Amenities
wood floors
in-unit laundry
private patio
garage
large driveway
Building Details
Building Size
2,632 SF
Units
3
Listed By:
Eric Morgan
(415) 999-5382
Source:
Elliman
Added: Oct 30
Changed: Nov 3
Last Checked: Nov 3 at 7:23AM
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 Eric Morgan
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
At 40-44 Elizabeth Way, this San Rafael triplex contains two two-bedroom, one-bath residences and one one-bedroom, one-bath residence. All three have wood floors, in-unit laundry, storage, a private patio, and a garage. One residence is described as move-in ready, with a living and dining area, fireplace, kitchen with white cabinetry, countertops, dishwasher and electric range, plus a sliding glass door to the patio. Large windows bring natural light into its living areas.
The property is in the Fair Hills Manor neighborhood, with downtown San Rafael and downtown San Anselmo both nearby. Restaurants, cafés, boutiques, shops, and everyday amenities are available in those downtown areas. Fourth Street in San Rafael is noted for local shops and arts offerings.
A large driveway provides additional parking. The three-unit configuration includes a mix of one- and two-bedroom layouts, with private outdoor space and a garage for each residence.
The property is in the Fair Hills Manor neighborhood, with downtown San Rafael and downtown San Anselmo both nearby. Restaurants, cafés, boutiques, shops, and everyday amenities are available in those downtown areas. Fourth Street in San Rafael is noted for local shops and arts offerings.
A large driveway provides additional parking. The three-unit configuration includes a mix of one- and two-bedroom layouts, with private outdoor space and a garage for each residence.
Key Highlights
- Three residences: two 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit
- Each residence has wood floors, in‑unit laundry, storage, a private patio, and a garage
- One residence features a fireplace, dishwasher, electric range, and sliding glass door to its patio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$88,343
Cap Rate
4.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,766,860
$1.8M
Cap Rate 7%
$1,262,043
$1.3M
Cap Rate 9%
$981,589
$981.6K
Market Conditions
NOI Build-Up for 2,632 SF
Gross rent
$134.2K $51.00/SF
− Vacancy
−$8.0K −$3.05/SF
EGI
$126.2K $47.95/SF
− OpEx
−$37.9K −$14.39/SF
NOI
$88.3K $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%
$1,766,860
Cap Rate 7%
$1,262,043
Cap Rate 9%
$981,589
Alternative Uses
Best Use
Multifamily LT 5
$1.26M
$1.10M – $1.47M
NOI $88,343 @ 7.0% cap · market cap 4.11%
Second Best
Apartment 5plus
$544.7K
$476.6K – $635.5K
NOI $38,127 @ 7.0% cap · market cap 1.77%
Theoretical Best
Specialty Retail
$12.86M
$11.25M – $15.00M
NOI $899,937 @ 7.0% cap · market cap 41.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,058
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Three residences offer in-unit laundry, storage, and garage access for each household.
Where is this triplex located?
The property is located at 40-44 Elizabeth Way San Rafael, CA.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: Three residences: two 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit; Each residence has wood floors, in‑unit laundry, storage, a private patio, and a garage; One residence features a fireplace, dishwasher, electric range, and sliding glass door to its patio
