179 Los Ranchitos Road

San Rafael CA 94903

5582 sq. ft.

38224 sq. ft.

Other

Currently for sale - view listing

Overview

Rare investment opportunity in the heart of San Rafael, Marin County, one of California's most supply-constrained rental markets. This exceptional 17-bedroom, 9-bath income property sits on 1.66 acres across two parcels with pro forma gross rental income potential of $296,400/year. The property features a main structure with 16 bedrooms and 8 baths operating on a room-by-room rental model, 14 standard rooms at $1,300/mo and 2 premium rooms at $2,000/mo, plus a fully detached 1BD/1BA private residence with a market rent of $2,500/mo. Pro forma owner-managed NOI of approximately $185,888/year supports the $2,900,000 asking price at a 6.41% projected cap rate. All figures are pro forma projections based on market rents; buyer to verify.

Features

1 carspace

1 garage space

5582 sq. ft. floor area

38224 sq. ft. lot size

Other

Property history for 179 Los Ranchitos Road

2021

Sold

$2,050,000

24 Nov 2021 by Carolyn Lenert, of Coldwell Banker Realty

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