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Listed by Katherine Y Raphael NORCAL COMMERCIAL
$ 8,300,000
Est. payment /mo
New
2555 Sir Francis Drake BLVD Fairfax, CA 94930
22,968 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 22,968 sqft
Price per Sqft $361
MLS Listing ID 326090827
HOA Y/N No
Year Built 1959
Lot Size 1.270 Acres
Acres 1.27
Property Sub-Type 5 or More Units
Property Description
Positioned in the highly sought-after community of Fairfax in central Marin County, this well-maintained 33-unit apartment complex presents a compelling investment opportunity with strong in-place fundamentals and long-term upside. Situated on an expansive 1.27-acre parcel, the property features an attractive unit mix of 24 one-bedroom, one-bath units and 9 two-bedroom, one-bath units, catering to a broad tenant base. The two-story stucco building with concrete slab foundation and newer rolled comp roof is thoughtfully designed around a spacious central courtyard, highlighted by a swimming pool that enhances tenant appeal and fosters a sense of community. The property offers a professional front lobby with an on-site manager's office, as well as convenient building owned coin-operated laundry facilities, dedicated bike parking, shared storage, and a maintenance room with half bath. Tenants also benefit from abundant parking, a highly desirable amenity in this submarket. Several units have private balconies or patios, and there is an underutilized outdoor space at the back of the property that is ready to be reimagined. Current ownership has completed a number of significant capital improvements, including recent SB721 balcony/walkway compliance, a newer roof, dual-pane windows, new water heaters, newer exterior paint, parking lot resurfacing, updated unit interiors (in approx. 28 units), and upgraded electrical subpanelsproviding a strong foundation for future ownership and minimizing near-term capital expenditure needs.
Location
State CA
County Marin
Area Fairfax
Rooms
Basement None
Interior
Heating Gas, Wall Furnace
Cooling None
Laundry Coin Operated, Common Area, Washer/Dryer Owned
Exterior
Waterfront Description Public
View Hills
Roof Type Composition,Flat
Total Parking Spaces 58
Private Pool No
Building
Lot Description Sidewalk
Foundation Concrete, Slab
Sewer Public Sewer
Water Public
Others
Tax ID 17405118
Special Listing Condition Offer As Is
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