REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Sat

May

Sun

May

Mon

May

Dave Lucas

david.lucas@cbrealty.com +1(831) 884-3521

Listed by Kevin Obrien • Re/Max Accord

$ 4,800,000

Est. payment | -/mo

15,148 SqFt

Save Virtual Tour

$ 4,800,000

Est. payment | -/mo

Save Virtual Tour

15,148 SqFt

Key Details

Property Type Multi-Family, Commercial

Sub Type Five or More Units

Listing Status Pending

Purchase Type For Sale

Square Footage 15,148 sqft

Price per Sqft $316

MLS Listing ID BE41042766

Year Built 1971

Lot Size 0.861 Acres

Property Sub-Type Five or More Units

Source Bay East

Property Description

3-Buildings 24 or 48-Units 15,148 Square Feet Total First-Time on the Market in 50-Years LOTS of Potential Uses INVESTORS ... good cash-flow and 5% Cap-Rates with the current Tenants INVESTORS #2 ... 10% Cap-Rates by converting back to market-rate housing INVESTORS #3 ... Convert to affordable condos to sell individually or make into live/work spaces ... over $3-million upside potential YMBY (YES in My Backyard) ... Non-Profit Groups - convert to housing for Disabled Veterans, or other vital programs YMBY #2 ... Potential to double the number of units to 48 studio apartments ... upstairs units can be adapted to have separate entrances ... see the Matterport Tour for a sample of an upstairs studio COMPANY HEADQUARTERS ... High-Visibility Location, excellent parking, campus-like setting and immediate access to Highway-101 make this an interesting option. A FEW NUMBERS : $100,000 or $200,000 per unit 24-units (1-bedroom) or 48-units (studio apartments) Possibly build more units 3 buildings - about 5,000 square feet per building The asking price is $318 per square foot, which is way below what it would cost to build in today's market OK to drive around the buildings - but, please DO NOT ENTER BUILDINGS or DISTURB TENANTS

Location

State CA

County Marin

Area Other Area

Interior

Heating Wall Furnace

Cooling Window / Wall Unit

Flooring Carpet - Wall to Wall

Exterior

Exterior Feature Siding - Wood

Parking Features Parking Area

Garage Spaces 55.0

Roof Type Composition

Building

Lot Description Grade - Level, Other

Sewer Sewer - Public

Water Public

Others

Tax ID 052-371-04

Special Listing Condition Not Applicable

Virtual Tour https://my.matterport.com/show/?m=LKBRknJi354&brand=0

GET MORE INFORMATION

Dave Lucas

REALTOR® | Lic# 02092197

david.lucas@cbrealty.com

+1(831) 884-3521

456 Washington St, Monterey, CA, 93940, USA

150 Shoreline Hwy Mill Valley, CA 94941

Dave Lucas

Key Details

Location

Interior

Exterior

Building

Others

150 Shoreline Hwy