Ignacio Pines | 195 Los Robles Rd
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Ignacio Pines 195 Los Robles Rd
39 Unit Apartment Building $23,805,584 CAD ($610,400 CAD/Unit) 6.94% Cap Rate Novato, CA 94949
INVESTMENT HIGHLIGHTS
- Countless Improvements, Featuring: New Roofs, Upgraded Plumbing, Recently-Replaced Water Mains, Storm Drains, New Windows, and Current Seismic Upgrade
- 2:1 Off-Street Parking Ratio, Onsite Coin-Operated Laundry, Fully-Functional Elevator, Private Courtyard and a Community Pool
- Delivered 100% Occupied by Stable Tenants Paying Close to Market Rate, with No Delinquencies
- Extensive Unit Renovations Completed in 2017, Including Updated Kitchens & Bathrooms, Hardwood Cabinetry, and Large Private Decks
- 35,346 SF of Rentable Space Set on a Massive 1.04 Acre Parcel - Boasting Lush, Mature Landscaping & Ample Storage Space Currently Leased to Tenants
EXECUTIVE SUMMARY
The Pinza Group, Inc. is pleased to present Ignacio Pines Apartments, an exceptionally well-maintained 39 unit multifamily property offering a prime location in Novato, CA. Comprised of two (2) three-story structures, the buildings feature an ideal unit mix of (33) 2bd/1bth, (3) 2bd/2bth, and (3) 1bd/1bth units. 195 Los Robles Road contains 35,346 SF of rentable space set on over an acre of land, boasting 78 off-street parking stalls, onsite coin-operated laundry, meticulously-maintained common areas, and an elevator for convenient tenant access. Current ownership has invested in substantial capital improvements, including: recently-replaced roof(s), upgraded plumbing fixtures, a well-maintained community pool, new storm drains, windows, and various unit renovations throughout.
195 Los Robles Road will be delivered 100% occupied by stable tenants paying close to market rate, allowing future ownership to take advantage of tenant turnover, annual adjustments, and utility passthroughs in order to maximize return on investment. Additionally, prospective investors have the option to take advantage of an assumable loan option with excellent terms. Ignacio Pines offers a prime location to residents, with close proximity to restaurants, retail shopping outlets, commute options such as U.S. Route 101, and just a short drive to San Pablo Bay.
195 Los Robles Road will be delivered 100% occupied by stable tenants paying close to market rate, allowing future ownership to take advantage of tenant turnover, annual adjustments, and utility passthroughs in order to maximize return on investment. Additionally, prospective investors have the option to take advantage of an assumable loan option with excellent terms. Ignacio Pines offers a prime location to residents, with close proximity to restaurants, retail shopping outlets, commute options such as U.S. Route 101, and just a short drive to San Pablo Bay.
PROPERTY FACTS
| Price | $23,805,584 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $610,400 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 1.04 AC |
| Cap Rate | 6.94% | Building Size | 35,346 SF |
| Gross Rent Multiplier | 10.8 | Average Occupancy | 100% |
| No. Units | 39 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1964/2017 |
| Property Subtype | Apartment | Parking Ratio | 2.28/1,000 SF |
| Price | $23,805,584 CAD |
| Price Per Unit | $610,400 CAD |
| Sale Type | Investment |
| Cap Rate | 6.94% |
| Gross Rent Multiplier | 10.8 |
| No. Units | 39 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.04 AC |
| Building Size | 35,346 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1964/2017 |
| Parking Ratio | 2.28/1,000 SF |
UNIT AMENITIES
- Balcony
- Cable Ready
- Dishwasher
- Fireplace
- High Speed Internet Access
- Refrigerator
- Oven
- Range
- Walk-In Closets
- Patio
- Smoke Free
SITE AMENITIES
- Courtyard
- Laundry Facilities
- Picnic Area
- Playground
- Pool
- Storage Space
- Elevator
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 3 | - | 600 - 826 |
| 2+1 | 33 | - | 854 - 1,008 |
| 2+2 | 3 | - | 951 |
ZONING
| Zoning Code | PD (Planned District) |
| PD (Planned District) |
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Ignacio Pines | 195 Los Robles Rd
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