New Construction Townhouse
For Sale
$5,390,000
709 C St #1, San Rafael, CA 94901
Newly built complex of four townhouses with attached garages, chef’s kitchens, hardwood floors, and outdoor living space.
Property Size6,602 SF
Days on Market50
Property Features for 709 C St #1
General Information
Standard status
Active
Size
6,602 SF
Property subtype
Investment
Building Details
Building Size
6,602 SF
Year Built
2026
Units
4
Listed By:
Margaret Ruiz
(415) 250-2289
Source:
Elliman
Added: Jul 21
Changed: Sep 6
Last Checked: Sep 8 at 7:35AM
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 Margaret Ruiz
Investment Insights
Based on property information with market context.
709 C St #1 is a light-filled, newly constructed complex of four townhouses designed for easy California living. Each unit includes a chef’s kitchen with custom cabinetry, wide plank hardwood floors, and indoor/outdoor flow with terraces, decks, and patios, plus a rooftop deck with views of Mt Tam. Attached garages are included with the homes.
The property is set on a tree-lined street in a downtown location between Gerstle Park and downtown San Rafael. Walkability and bikeability are supported by a WalkScore of 93 and a BikeScore of 83, with a TransitScore of 56 indicating good transit access.
For sale as a cohesive four-unit townhouse offering, the building presents a modern, residential income configuration with multiple levels of usable outdoor space across the residences.
The property is set on a tree-lined street in a downtown location between Gerstle Park and downtown San Rafael. Walkability and bikeability are supported by a WalkScore of 93 and a BikeScore of 83, with a TransitScore of 56 indicating good transit access.
For sale as a cohesive four-unit townhouse offering, the building presents a modern, residential income configuration with multiple levels of usable outdoor space across the residences.
Key Highlights
- New construction complex built in 2026 with 4 townhouses
- Each townhouse features attached garages
- Chef’s kitchens with custom cabinetry
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
$221,597
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
4.11%
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%
$4,431,940
$4.4M
Cap Rate 7%
$3,165,671
$3.2M
Cap Rate 9%
$2,462,189
$2.5M
Market Conditions
NOI Build-Up for 6,602 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
$336.7K $51.00/SF
− Vacancy
−$20.1K −$3.05/SF
EGI
$316.6K $47.95/SF
− OpEx
−$95.0K −$14.39/SF
NOI
$221.6K $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 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%
$4,431,940
Cap Rate 7%
$3,165,671
Cap Rate 9%
$2,462,189
Alternative Uses
Best Use
Multifamily LT 5
$3.17M
$2.77M – $3.69M
NOI $221,597 @ 7.0% cap · market cap 4.11%
Second Best
Apartment 5plus
$1.37M
$1.20M – $1.59M
NOI $95,637 @ 7.0% cap · market cap 1.77%
Theoretical Best
Specialty Retail
$32.25M
$28.22M – $37.62M
NOI $2,257,364 @ 7.0% cap · market cap 41.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,639
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Newly built complex of four townhouses with attached garages, chef’s kitchens, hardwood floors, and outdoor living space.
Where is this quadplex located?
The property is located at 709 C St #1 San Rafael, CA.
What is the asking price?
The asking price for this property is $5,390,000.
What are key features of this property?
This property features: New construction complex built in 2026 with 4 townhouses; Each townhouse features attached garages; Chef’s kitchens with custom cabinetry
