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34470576
34470575

19 Merrydale Road, San Rafael, CA 94903 For Sale

RF
CA 02302077
CBRE - San Jose
BM
CA 02136790
CBRE - San Jose
AF
CA 02144332
CBRE - San Jose
Listed by CBRE - San Jose
$5,600,000
1 day on market
Updated 1 day ago

Marin Heights

Details
Property Type Multifamily
Square Footage 11,568
Units 18
Cap Rate 5.48%
NOI $307,000
Occupancy 94%
Pro-Forma Cap Rate 5.85%
Pro-Forma NOI $327,000
Year Built 1965
Buildings 2

18 Units | 5.48% Cap | 10.39 GRM

Marketing description

19 Merrydale Road (the Property) is a multifamily asset built in 1965 situated on a generously sized lot and comprised of eighteen (18) units. The Property features a unit mix of twelve (12) one-bedroom/one-bathroom and six (6) two-bedroom/one-bathroom floorplans. Several units have been tastefully renovated as tenants have turned, and recent capital improvements include new electrical subpanels, water heaters, and furnaces throughout, ensuring modern mechanical systems and reduced near-term capital requirements for an incoming investor.

Each unit benefits from its own individual water heater and furnace, providing residents with independent climate and utility control — a meaningful amenity that limits owner utility exposure and enhances tenant satisfaction. The Property also features on-site laundry and commanding views of the surrounding Marin hillsides, adding to its strong appeal among prospective renters.

Marin Heights’ premier location in San Rafael positions it at the heart of one of the most desirable residential communities in Marin County. Residents enjoy convenient access to Highway 101 and proximity to major employment centers across the North Bay and broader Bay Area, while benefiting from the exceptional quality of life Marin is renowned for.

Investment highlights

  • PREMIER MARIN COUNTY LOCATION
  • ATTRACTIVE VALUE-ADD PRICING
  • STRONG IN-PLACE CASH FLOW
  • RENOVATED UNIT INTERIORS
  • OPERATIONALLY SIMPLE ASSET
  • TRANSIT-CONNECTED, AMENITY-RICH

Listing Contacts

RF
CA 02302077
CBRE - San Jose
BM
CA 02136790
CBRE - San Jose
AF
CA 02144332
CBRE - San Jose
Listed by CBRE - San Jose

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$307,000.00
$25,583.33/mo

Valuation Metrics

0
DSCR
5.48%
Cap Rate
5.48%
ROI

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Additional Information

Name
Ryan Fox
License
02302077
Brokerage
CBRE
Brokerage Phone
(408) 409-3431
Title
Real Estate Salesperson
Brokerage Address
400 South Hope Street
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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