179 Los Ranchitos Rd
Property Description
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.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $2,900,000 |
| No. of Units: | 2 |
| Year Built: | 1948 |
| Lot Size: | 5,582.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $1,450,000 |
| Property Website | Click Here |
| Number of Bedrooms: | 0 |
| Number of Bathrooms: | 0 |
ID: 3yd-BAEORCA-41127432
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