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1851 2nd St 2 Unit Apartment Building $1,734,762 CAD ($867,381 CAD/Unit) 4.38% Cap Rate San Rafael, CA 94901



Investment Highlights
- Excellent walkable location close to public transportation
- Upside potential
- Easy to rent
Executive Summary
Located in the heart of San Rafael, 1851 2nd Street offers an ideal blend of convenience, accessibility, and investment appeal. This centrally located property is just moments from downtown amenities, transportation, dining, and shopping making it highly desirable and easy to rent. A walkable neighborhood enhances everyday livability, while ample parking adds a major bonus rarely found in such a prime location. Whether you're seeking a low-maintenance investment or a property that benefits from consistent tenant demand, 1851 2nd Street checks all the boxes with its unbeatable location and practical appeal. Unit A is a ground floor unit with 2 bedrooms, 2 baths as well as a generous laundry & storage room. Unit B is a second floor unit with 3 bedrooms, 2 bathrooms, large dining room & living room with a beautiful fireplace. Easy cosmetic updates to increase value and 1 unit under current market rent. Current tenants are fantastic and have leases that are month to month but would love to stay if possible (willing to sign longer leases). Photos have been virtually decluttered originals can be found at 18512ndstreet.com.
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $1,734,762 CAD | Building Class | C |
| Price Per Unit | $867,381 CAD | Lot Size | 0.10 AC |
| Sale Type | Investment | Building Size | 2,591 SF |
| Cap Rate | 4.38% | Average Occupancy | 100% |
| No. Units | 2 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1935 |
| Property Subtype | Apartment | Parking Ratio | 1.16/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | HR 1.8 - Multifamily Residential Zoning District | ||
| Price | $1,734,762 CAD |
| Price Per Unit | $867,381 CAD |
| Sale Type | Investment |
| Cap Rate | 4.38% |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 2,591 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1935 |
| Parking Ratio | 1.16/1,000 SF |
| Zoning | HR 1.8 - Multifamily Residential Zoning District |
Amenities
Unit Amenities
- Balcony
- Washer/Dryer
- Sunroom
Site Amenities
- Fenced Lot
- Tenant Controlled HVAC
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 1 | $3,886 CAD | 873 |
| 3+2 | 1 | $4,406 CAD | 1,176 |
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 012-046-02 | Total Assessment | $1,567,170 CAD |
| Land Assessment | $1,053,634 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $513,536 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
012-046-02
Land Assessment
$1,053,634 CAD
Improvements Assessment
$513,536 CAD
Total Assessment
$1,567,170 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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Photos
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1851 2nd St
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