179 Los Ranchitos Road
Rare Marin County Investment Opportunity - one of California’s most supply-constrained rental market
Marketing description
SBI Properties is pleased to present an exceptional co-living/redevelopment investment opportunity at 179 Los Ranchitos Road in the heart of San Rafael, Marin County. This well-established income-producing property features multiple residential units operating as a co-living community, generating strong and consistent rental income in one of the Bay Area's most supply-constrained markets.
179 Los Ranchitos Road is a thoughtfully operated co-living community spanning an approximately 70,460 SF lot (sum of 38,224 SF & 32,236 SF lots). The property consists of a main house and a detached cottage/ADU unit, collectively providing seventeen (17) private bedrooms, multiple shared living spaces, and extensive communal amenities uncommon at this price point in Marin County.
Investment highlights
- Strong & Diversified Income Stream - The co-living model delivers per-room rental economics that exceed traditional multi-family leases. With nine private bedrooms, the property captures multiple independent income streams from a single parcel -- significantly reducing vacancy risk. Current gross monthly income exceeds $18,000, equating to over $216,000 annually.
- Affluent, Highly Educated Renter Pool - The 3-mile trade area boasts a median household income of $133,073, a median net worth of $599,536, and 62.9% of residents holding a Bachelor's or advanced degree -- underpinning premium room pricing and low credit-risk tenancy.
- Marin County Supply Constraint - San Rafael and the broader Marin County market are characterized by extremely limited housing supply driven by geographic constraints, strict growth controls, and regulatory dynamics. This structural scarcity sustains rental demand and supports consistent rent appreciation.
- Transit-Oriented Location - The half-mile walk to the San Rafael SMART station positions the property within a TOD overlay zone, enhancing tenant appeal and potentially conferring density bonuses and relaxed parking requirements under California state housing law.
- Value-Add & Development Potential - The +-0.46-acre parcel presents meaningful upside. Applicable California statutes including SB 9 (lot split/duplex), the Builder's Remedy, and TOD density bonus provisions may enable additional unit creation or phased redevelopment. Buyers should independently verify with the City of San Rafael and qualified land use counsel.
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