Created date: November 17, 2023
Date last updated: November 17, 2023
Ignacio Pines is an exceptionally well-maintained 39 unit multifamily property boasting a prime location in Novato, CA. These buildings feature an ideal unit mix of (33) 2bd/1bth, (3) 2bd/2bth, and (3) 1bd/1bth units. There is 35,346 SF of rentable space set on over an acre of land, boasting a 3:1 off-street parking ratio, 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.
The property will be delivered 100% occupied by table 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.