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1048 7th St - 1048 7th Street 4 Unit Apartment Building Offered at $2,207,840 CAD at a 6.79% Cap Rate Novato, CA 94945
Executive Summary
Four 2BR/1.5 BA Townhouse apartments on a level lot near downtown Novato, but just far enough away. Located in the desirable far west side of the downtown area.
All apartments feature individual laundry rooms and a private fenced in back yard area. Ample off-street parking with each apartment having two spaces – one carport and one open.
The property was built in 1979 and has been well cared for since. Wood frame two story construction on a concrete perimeter foundation with a composition roof.
There is a shared easement driveway with the building next door, which is also available for sale.
All apartments feature individual laundry rooms and a private fenced in back yard area. Ample off-street parking with each apartment having two spaces – one carport and one open.
The property was built in 1979 and has been well cared for since. Wood frame two story construction on a concrete perimeter foundation with a composition roof.
There is a shared easement driveway with the building next door, which is also available for sale.
Financial Summary (Pro Forma - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$193,738
|
$48.39
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$193,738
|
$48.39
|
| Taxes |
-
|
-
|
| Operating Expenses |
$48,159
|
$12.03
|
| Total Expenses |
$48,159
|
$12.03
|
| Net Operating Income |
$145,579
|
$36.36
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $193,738 |
| Annual Per SF | $48.39 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $193,738 |
| Annual Per SF | $48.39 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $48,159 |
| Annual Per SF | $12.03 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $48,159 |
| Annual Per SF | $12.03 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $145,579 |
| Annual Per SF | $36.36 |
Property Facts
| Price | $2,207,840 CAD | Property Type | Multifamily |
| Price Per Unit | $551,960 CAD | Building Size | 4,004 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| Cap Rate | 6.79% | No. Stories | 2 |
| Gross Rent Multiplier | 11.4 | Year Built | 1979 |
| No. Units | 4 |
| Price | $2,207,840 CAD |
| Price Per Unit | $551,960 CAD |
| Sale Type | Investment |
| Cap Rate | 6.79% |
| Gross Rent Multiplier | 11.4 |
| No. Units | 4 |
| Property Type | Multifamily |
| Building Size | 4,004 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1979 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 4 | $3,312 CAD | 1,001 |
1 1
Fairly walkable
50/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 141-251-31 | Total Assessment | $854,249 CAD (2025) |
| Land Assessment | $224,221 CAD (2025) | Annual Taxes | $0 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $630,028 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
141-251-31
Land Assessment
$224,221 CAD (2025)
Improvements Assessment
$630,028 CAD (2025)
Total Assessment
$854,249 CAD (2025)
Annual Taxes
$0 CAD ($0.00 CAD/SF)
Tax Year
2026
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1048 7th St - 1048 7th Street
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