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Marin Heights 19 Merrydale Rd 18 Unit Apartment Building $7,879,200 CAD ($437,733 CAD/Unit) 5.48% Cap Rate San Rafael, CA 94903
Investment Highlights
- PREMIER MARIN COUNTY LOCATION
- RENOVATED UNIT INTERIORS
- STRONG IN-PLACE CASH FLOW
- ATTRACTIVE VALUE-ADD PRICING
Executive Summary
19 Merrydale Road (the Property) is a multifamily asset built in 1965 situated on a generously sized lot and comprised of eighteen (18) units. The Property features a unit mix of twelve (12) one-bedroom/one-bathroom and six (6) two-bedroom/one-bathroom floorplans. Several units have been tastefully renovated as tenants have turned, and recent capital improvements include new electrical subpanels, water heaters, and furnaces throughout, ensuring modern mechanical systems and reduced near-term capital requirements for an incoming investor.
Each unit benefits from its own individual water heater and furnace, providing residents with independent climate and utility control — a meaningful amenity that limits owner utility exposure and enhances tenant satisfaction. The Property also features on-site laundry and commanding views of the surrounding Marin hillsides, adding to its strong appeal among prospective renters.
Marin Heights’ premier location in San Rafael positions it at the heart of one of the most desirable residential communities in Marin County. Residents enjoy convenient access to Highway 101 and proximity to major employment centers across the North Bay and broader Bay Area, while benefiting from the exceptional quality of life Marin is renowned for — including top-rated schools, abundant open space, and a vibrant dining and retail scene along 4th Street in Downtown San Rafael.
Each unit benefits from its own individual water heater and furnace, providing residents with independent climate and utility control — a meaningful amenity that limits owner utility exposure and enhances tenant satisfaction. The Property also features on-site laundry and commanding views of the surrounding Marin hillsides, adding to its strong appeal among prospective renters.
Marin Heights’ premier location in San Rafael positions it at the heart of one of the most desirable residential communities in Marin County. Residents enjoy convenient access to Highway 101 and proximity to major employment centers across the North Bay and broader Bay Area, while benefiting from the exceptional quality of life Marin is renowned for — including top-rated schools, abundant open space, and a vibrant dining and retail scene along 4th Street in Downtown San Rafael.
Property Facts
| Price | $7,879,200 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $437,733 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.41 AC |
| Cap Rate | 5.48% | Building Size | 10,800 SF |
| Gross Rent Multiplier | 10.39 | Average Occupancy | 94% |
| No. Units | 18 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Apartment | Parking Ratio | 1.73/1,000 SF |
| Zoning | PCNG, San Rafael | ||
| Price | $7,879,200 CAD |
| Price Per Unit | $437,733 CAD |
| Sale Type | Investment |
| Cap Rate | 5.48% |
| Gross Rent Multiplier | 10.39 |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.41 AC |
| Building Size | 10,800 SF |
| Average Occupancy | 94% |
| No. Stories | 2 |
| Year Built | 1962 |
| Parking Ratio | 1.73/1,000 SF |
| Zoning | PCNG, San Rafael |
Amenities
Unit Amenities
- Heating
- Kitchen
- Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | 575 - 650 |
| 2+1 | 6 | - | 650 - 750 |
1 1
Fairly walkable
40/100
Very drivable
80/100
Some public transit
40/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 179-222-17 | Improvements Assessment | $5,221,266 CAD |
| Land Assessment | $2,993,277 CAD | Total Assessment | $8,214,543 CAD |
Property Taxes
Parcel Number
179-222-17
Land Assessment
$2,993,277 CAD
Improvements Assessment
$5,221,266 CAD
Total Assessment
$8,214,543 CAD
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Marin Heights | 19 Merrydale Rd
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