360-361 Du Bois St
6 Unit Apartment Building $2,482,287 CAD ($413,715 CAD/Unit) 4.41% Cap Rate San Rafael, CA 94901
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EXECUTIVE SUMMARY
Located in the Bret Harte area of San Rafael, close to shopping and easy freeway access. 2-2BR and 4-1BR apartments on a large 10,500 sf level lot. The lot affords ample space to develop additional apartments. Current ADU guidelines suggest as many as six (Buyer to Confirm).
There are 11 carports and ample additional off-street parking. Some of the carports are rented to the apartment complex across the street.
Overall, the building is in good condition and seems to be well maintained. The owner has replaced the two main roof sections in 2018 and 2020. Four of the units have been remodeled and upgraded. All units have hardwood floors. Two are still carpeted over and need refinishing. There is a large owner’s storage room and an on-site laundry room with owned equipment. Heating is provided by gas fired wall furnaces. Units are separately metered for PG&E. The Owner pays for water and trash.
There is a large upside potential in the rental income.
There are 11 carports and ample additional off-street parking. Some of the carports are rented to the apartment complex across the street.
Overall, the building is in good condition and seems to be well maintained. The owner has replaced the two main roof sections in 2018 and 2020. Four of the units have been remodeled and upgraded. All units have hardwood floors. Two are still carpeted over and need refinishing. There is a large owner’s storage room and an on-site laundry room with owned equipment. Heating is provided by gas fired wall furnaces. Units are separately metered for PG&E. The Owner pays for water and trash.
There is a large upside potential in the rental income.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
---|---|---|
Gross Rental Income |
$201,278
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$61.33
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Other Income |
-
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-
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Vacancy Loss |
$6,099
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$1.86
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Effective Gross Income |
$195,179
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$59.47
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Taxes |
-
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-
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Operating Expenses |
-
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-
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Total Expenses |
$85,674
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$26.10
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Net Operating Income |
$109,504
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$33.37
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PROPERTY FACTS Under Contract
Price | $2,482,287 CAD |
Price Per Unit | $413,715 CAD |
Sale Type | Investment |
Cap Rate | 4.41% |
Gross Rent Multiplier | 12.3 |
No. Units | 6 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Low Rise |
Building Class | C |
Lot Size | 0.26 AC |
Building Size | 3,282 SF |
No. Stories | 2 |
Year Built | 1955 |
Parking Ratio | 4.57/1,000 SF |
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Oven
- Tub/Shower
- Pantry
UNIT MIX INFORMATION
DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
---|---|---|---|
2+1 | 2 | $2,869 CAD | - |
1+1 | 4 | $2,567 CAD | - |
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Walk Score®
Very Walkable (71)
PROPERTY TAXES
Parcel Number | 013-092-08 | Improvements Assessment | $617,620 CAD |
Land Assessment | $337,948 CAD | Total Assessment | $955,568 CAD |
ZONING
Zoning Code | R5, San Rafael |