Property photo 1
38 photos
ActiveMLS# 41127432216 days on market

$2,900,000

179 Los Ranchitos Rd

San Rafael, CA 94903

0 BD|0 BA|5,582 SQFT|$519.53/sqft

About This Property

*** Seller financing available *** Seller financing for up to 75% of the purchase price to a qualified buyer, at a 5.5% interest rate for a 3-year term. A 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.

Property Details

Property TypeSingle Family
Year Built1948
Lot Size38,224 sqft
Price / Sqft$519.53
Days on Market216
MLS Number41127432

Adam Modzeleski

Broker

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Est. Monthly Payment

$17,443

P&I: $14,664 | Tax: $2,054 | Insurance: $725

$2,900,000
%
%
Loan Amount$2,320,000
Down Payment$580,000

Estimates are for informational purposes only. Tax and insurance amounts are approximations. Contact a mortgage lender for accurate quotes.

Location

179 Los Ranchitos Rd, San Rafael, CA 94903

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