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Listed by Nick Saribalis • Golden Gate Sotheby's International Realty
$ 1,395,000
Est. payment | /mo
1,111 Beds
4 Baths
7,553 Sqft Lot
$ 1,395,000
Est. payment | /mo
1,111 Beds
4 Baths
7,553 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID 325082131
Bedrooms 1111
HOA Y/N No
Year Built 1959
Lot Size 7,553 Sqft
Property Sub-Type 5 or More Units
Property Description
For investors seeking a stabilized asset with proven income and additional upside through renovations and rent growth. 1893 Lincoln Ave is a prime opportunity in one of the Bay Area's most resilient rental markets. This building presents a rare investment opportunity in the heart of Central San Rafael. This well-maintained 6-unit multifamily property is comprised entirely of 1-bedroom, 1-bathroom units, offering consistency in layout and strong renter demand. Each unit is currently occupied, providing immediate cash flow for the next owner. Two of the units have been thoughtfully updated and are achieving rents near market value, showcasing the income potential available with further improvements. The property is priced attractively at $1,395,000 ($232,500 per unit) with an in-place 4.4% CAP rate, making it an attractive multifamily offering in Marin County. San Rafael continues to be one of the most desirable rental markets in the North Bay due to its central location, strong job base, and excellent transit access. The property sits just off Highway 101, offering quick connectivity to the rest of Marin, Sonoma, and San Francisco. Also minutes from SMART Train, downtown San Rafael, shopping, and local dining, further enhancing tenant appeal.
Location
State CA
County Marin
Area San Rafael
Interior
Heating Wall Furnace
Cooling None
Exterior
Parking Features Carport, Covered
Garage Spaces 6.0
Building
Sewer Public Sewer
Water Water District
Others
Special Listing Condition Offer As Is, None
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Jolene Cortright
Partner | Lic# 1469046