Lanai Apartments 2555 Sir Francis Drake Blvd 33 Unit Apartment Building $11,688,475 CAD ($354,196 CAD/Unit) 5.16% Cap Rate Fairfax, CA 94930

Showing Wednesday 11-2pm by appointment only - do not disturb tenants. Located in coveted Marin County, just 1 mile to downtown Fairfax, Lanai Apartments is a 33-unit apartment community consisting of a desirable mix of 9 - 2 x 1 and 24 - 1 x 1 units on a spacious 1.27-acre parcel. The property features well-manicured grounds, abundant parking, on-site laundry, a central courtyard with swimming pool, proximity to local retail, dining, and outdoor recreation, while maintaining a tranquil residential setting that attracts a high caliber tenant base. Current ownership has completed a number of significant capital improvements, including a new roof, dual-pane windows, new water heaters, newer exterior paint, parking lot resurfacing, updated unit interiors (in approx. 28 units), and upgraded electrical main and subpanels—providing a strong foundation for future ownership and minimizing near-term capital expenditure needs. Available for the first time in over forty years, and attractively priced at $251,515 per unit, this pride-of-ownership asset presents a compelling investment opportunity with strong in-place fundamentals and long-term upside.