3-Unit Triplex with Updated
New
For Sale
$1,895,000
96 Elizabeth Way, San Rafael, CA 94901
Separate outdoor areas, garage parking, and on-site laundry add practical amenities for residents.
Property Size3,800 SF
Days on Market3
Property Features for 96 Elizabeth Way
General Information
Standard status
Active
Size
3,800 SF
Property subtype
Investment
Units
Unit Mix
2 x 2BR/2BA, 1 x 3BR/2BA
Multifamily Units
3
Amenities
high open beam ceilings
private outdoor spaces
garage parking
on-site complimentary laundry
individual tenant and landlord storage areas
dual pane windows
updated kitchens and bathrooms
Building Details
Building Size
3,800 SF
Year Built
1965
Units
3
Listed By:
Matthew P Reagan
(415) 223-8498
Source:
Elliman
Added: Oct 9
Changed: Oct 10
Last Checked: Oct 10 at 2:40AM
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 Matthew P Reagan
Investment Insights
Based on property information with market context.
This San Rafael triplex contains two two-bedroom, two-bath residences and one three-bedroom, two-bath residence. Interior features include open-beam ceilings, dual-pane windows, and renovated kitchens and bathrooms. Two apartments have backyards, while the third has a private patio. Garage parking, on-site laundry at no charge, and distinct storage areas for residents and the landlord are also included. The property was built in 1965.
Located in the Sun Valley area, the building is at 96 Elizabeth Way. Its Walk Score is 67, Bike Score is 41, and Transit Score is 33.
Located in the Sun Valley area, the building is at 96 Elizabeth Way. Its Walk Score is 67, Bike Score is 41, and Transit Score is 33.
Key Highlights
- Three apartments: two 2‑bedroom, 2‑bath units and one 3‑bedroom, 2‑bath unit
- Two residences have backyards; the third has a private patio
- Garage parking and on‑site laundry available at no charge
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$127,548
Cap Rate
6.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,550,960
$2.6M
Cap Rate 7%
$1,822,114
$1.8M
Cap Rate 9%
$1,417,200
$1.4M
Market Conditions
NOI Build-Up for 3,800 SF
Gross rent
$193.8K $51.00/SF
− Vacancy
−$11.6K −$3.05/SF
EGI
$182.2K $47.95/SF
− OpEx
−$54.7K −$14.39/SF
NOI
$127.5K $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%
$2,550,960
Cap Rate 7%
$1,822,114
Cap Rate 9%
$1,417,200
Alternative Uses
Best Use
Multifamily LT 5
$1.82M
$1.59M – $2.13M
NOI $127,548 @ 7.0% cap · market cap 6.73%
Second Best
Apartment 5plus
$786.4K
$688.1K – $917.5K
NOI $55,047 @ 7.0% cap · market cap 2.90%
Theoretical Best
Specialty Retail
$18.56M
$16.24M – $21.66M
NOI $1,299,301 @ 7.0% cap · market cap 68.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
335
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
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Frequently Asked Questions
What type of property is this?
Triplex - Separate outdoor areas, garage parking, and on-site laundry add practical amenities for residents.
Where is this triplex located?
The property is located at 96 Elizabeth Way San Rafael, CA.
What is the asking price?
The asking price for this property is $1,895,000.
What are key features of this property?
This property features: Three apartments: two 2‑bedroom, 2‑bath units and one 3‑bedroom, 2‑bath unit; Two residences have backyards; the third has a private patio; Garage parking and on‑site laundry available at no charge
