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247 D St
San Rafael, CA 94901
Multifamily Property For Sale
·
18 Units
Investment Highlights
- Prime Central San Rafael Location
- Durable, Supply Constrained Marin Demand
- Substantial Mark-To-Market Upside
Executive Summary
Del Mesa Apartments (The Property) is a Pride of Ownership 18-unit Multifamily investment opportunity in Gerstle Park neighborhood, widely considered the A+ area
of San Rafael. The Property features a well-maintained unit mix of twelve (12) one-bedroom, one-bathroom units and six (6) two-bedroom, one-bathroom units across a single three-story building set on a .042 acre parcel. Ownership has completed meaningful renovations over the last decade with remaining upside through continued in-unit upgrades and rent growth to market across the balance of the units.
Del Mesa Apartments is situated in Gerstle Park, one of San Rafael’s most coveted residential enclaves. The neighborhood is characterized by mature tree canopy, well maintained streetscapes, and a quiet, upscale character that distinguishes it from more commercially active San Rafael corridors. Gerstle Park consistently ranks among the city’s most desirable and safest neighborhoods, attracting long-term, quality tenants.
Please reach out to the CBRE Listing Team for additional information
of San Rafael. The Property features a well-maintained unit mix of twelve (12) one-bedroom, one-bathroom units and six (6) two-bedroom, one-bathroom units across a single three-story building set on a .042 acre parcel. Ownership has completed meaningful renovations over the last decade with remaining upside through continued in-unit upgrades and rent growth to market across the balance of the units.
Del Mesa Apartments is situated in Gerstle Park, one of San Rafael’s most coveted residential enclaves. The neighborhood is characterized by mature tree canopy, well maintained streetscapes, and a quiet, upscale character that distinguishes it from more commercially active San Rafael corridors. Gerstle Park consistently ranks among the city’s most desirable and safest neighborhoods, attracting long-term, quality tenants.
Please reach out to the CBRE Listing Team for additional information
Property Facts
| Price Per Unit | $477,598 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.04 AC |
| Cap Rate | 4.82% | Building Size | 13,040 SF |
| Gross Rent Multiplier | 12.29 | Average Occupancy | 100% |
| No. Units | 18 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1906/1965 |
| Property Subtype | Apartment | Parking Ratio | 1.38/1,000 SF |
| Apartment Style | Low-Rise |
| Price Per Unit | $477,598 CAD |
| Sale Type | Investment |
| Cap Rate | 4.82% |
| Gross Rent Multiplier | 12.29 |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 13,040 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1906/1965 |
| Parking Ratio | 1.38/1,000 SF |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | $3,145 CAD | 650 |
| 2+1 | 6 | $3,426 CAD | 800 |
Property Taxes
| Parcel Number | 012-222-07 | Improvements Assessment | $877,945 CAD |
| Land Assessment | $254,176 CAD | Total Assessment | $1,132,122 CAD |
Property Taxes
Parcel Number
012-222-07
Land Assessment
$254,176 CAD
Improvements Assessment
$877,945 CAD
Total Assessment
$1,132,122 CAD
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