www.crexi.com - The Commercial Real Estate Exchange
Subscribe to Intelligence for full access
Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
Subscribe to Intelligence for full access
Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
33167187
33167186

1118 Sir Francis Drake Blvd., Kentfield, CA 94904

MB
CA 00454938
Golden Gate Sotheby's International Realty
Listed by Golden Gate Sotheby's International Realty
$10,500,000
20 days on market
Updated 20 days ago

1118 Sir Francis Drake Blvd

Details
APN 071-121-22
Property Type Multifamily
Sub Type Apartment Building
Square Footage 22,572
Units 31
Cap Rate 4.50%
NOI $474,100
Price per SqFt $465
Year Built 1955
Stories 4
Lot Size (SqFt) 27,981
Parking Spaces 31 spaces
Parking Per SqFt 1.37
Investment Type Value Add

Multifamily | 31 Units | $338,700/unit

Marketing description

Ideally located in the heart of affluent central Marin, this well-positioned property sits directly across from Kentfield Hospital and just two blocks west of the College of Marin. The highly desirable Kentfield location offers residents convenient access to major employers, retail, dining, and transportation corridors.

Originally constructed in 1955, The Ross Apartments have been meticulously maintained by long-term ownership. While select improvements have been completed over the years, the property presents a strong value-add opportunity for future modernization and interior upgrades

The unit mix consists of four 2-bedroom apartments, twenty-six 1-bedroom apartments, and one spacious studio unit. Parking accommodations include garages with tandem spaces, covered carports, and additional open parking - one space per apartment

Residents enjoy mature, low-maintenance landscaping centered around an attractive interior courtyard setting. Most units feature shared outdoor decks adjoining the living areas, and all apartments include hardwood flooring,

In real estate, success starts with location—and The Ross Apartments deliver on that promise. Ideally positioned in the highly desirable central Marin community of Kentfield, the property enjoys a prime setting tucked back from Sir Francis Drake Boulevard with prominent frontage along the quieter side street, Toussin Avenue.

The Ross Apartments present a compelling investment opportunity in a high-demand market supported by stable tenancy and meaningful rental upside potential. The property consists of a four-story wood-frame building with a stucco exterior on a concrete perimeter foundation. Originally constructed in 1955, much of the asset remains in its classic condition, offering investors the flexibility to maintain current operations or unlock additional value through a comprehensive renovation strategy.

Parking amenities include a mix of garages, carports and open space with one assigned to each unit. Residents also benefit from an on-site laundry facility and dedicated storage lockers.

Capital improvements are already underway. The roof consists of five sections, three of which have been recently replaced, with the remaining two scheduled for replacement. All electrical subpanels have been upgraded, and bedroom windows have been modernized with dual-pane glass, while living room windows remain in their original configuration.

The property has historically operated with a central boiler heating system with heat paid for by ownership. A transition is currently in progress to individual electric heating units in each apartment, billed directly to tenants through their PG&E accounts, creating greater operational efficiency and reduced owner expense.

Investment highlights

  • Year Built : 1955
  • Construction: Wood Frame/Stucco
  • Foundation: Concrete Perimeter
  • Roof: torch down.
  • Windows: Dual pane in the bedrooms, single pane in the living room.
  • Electrical: original ungrounded
  • Plumbing: copper
  • Laundry: On-site, Laundry Room
  • Storage: Individual storage closets
  • Lot size: 27,981 sf (Assessor)
  • Building Size: 22,572 sf (Assessor)
  • Decks: Have not been SB721 inspected or certified
  • Electrical Sub Panels: All recently replaced
  • Heating: Central boiler system being replace with individual unit electric heaters.
  • Price/sf : $465
  • Price/unit : $338,700
  • GSI : $770,100 current. Rents not raised in over two years
  • NOI: $469,300 at current rents
  • GRM: 13.6 at current rents
  • CAP: 4.5% at current rents

Listing Contacts

MB
CA 00454938
Golden Gate Sotheby's International Realty
Listed by Golden Gate Sotheby's International Realty

Valuation Calculator

Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
$
$
%
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$474,100.00
$39,508.33/mo

Valuation Metrics

0
DSCR
4.52%
Cap Rate
4.52%
ROI

Map

Zoning

Intelligence Badge
RMP-20 PlannedResidential Multiple Planned
View municipality zoning documents
Upgrade to see the zone description and what's allowed on this property
Upgrade to search and view land use codes
View all 66 uses
View all 66 uses
Last updated May 8, 2026 For deeper zoning details, reports are available at Zoneomics

Broker Selected Comps View More Comps

Property History

Intelligence Badge

Tax History

Intelligence Badge

Similar Properties

View All
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
Is there information that looks off?
For assistance, reach out to our support team at [email protected] or call 888.273.0423 . For press inquiries, contact [email protected]
Equal Housing Opportunity
5510 Lincoln Blvd #400, Los Angeles, CA 90094Commercial Real Estate Exchange, Inc.Crexi Technologies, LLCCXTechnology, LLC
© 2026 Commercial Real Estate Exchange, Inc. All Rights Reserved. DRE #02086591