179 Los Ranchitos Rd, San Rafael, CA 94903
- $2,900,000
- 5,582
- SqFt
Listed by Preet Ballagan, (408) 209-7807 from KW Advisors
(If provided) CoList: Bimal Siyan from KW Advisors
- List Price
- $2,900,000
- MLS#
- BE41127432
- Status
- ACTIVE
- Zoning
- R-20
- Sqft. of Residence
- 5,582
- Lot Size
- 38,224
- Listing Area
- Other Area
Property Description
*** 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.
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Additional Information
- Acres
- 0.88
- Amenities
- Balcony/Patio, Other
- Cooling System
- Air Conditioning - None
- Exterior Features
- Stucco
- Floor Covering
- Laminate
- Garage Parking
- Attached Garage, Parking Area
- Heating System
- No Heating
- Laundry Facilities
- Washer, Dryer
- Living Area
- 5,582
- Lot Size
- 38,224
- Neighborhood
- Other Area
- Numberof Units
- 2
- Roof
- Composition
- Sewer
- Sewer - Public
- Unincorporated Yn
- Yes
- Zoning
- R-20
Mortgage Calculator
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