27
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$4,800,000
Est. payment /mo
0.86 Acres Lot
Active
150 Shoreline Hwy Mill Valley, CA 94941
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UPDATED:
12/05/2024 12:46 AM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 41042766
HOA Y/N No
Year Built 1971
Lot Size 0.861 Acres
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
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Roof Type Shingle
Total Parking Spaces 55
Building
Lot Description Street Level
Others
Tax ID 05237104
Listed by Kevin Obrien • Re/Max Accord
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