2408-2412 Palmetto Ave
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2408-2412 Palmetto Ave
8 Unit Apartment Building $3,500,000 ($437,500/Unit) 5.18% Cap Rate Pacifica, CA 94044
Executive Summary
This eight-unit ocean-view apartment building offers a robust investment opportunity with steady rental income, appreciation potential, and prospective tax benefits. Each unit comes with a dedicated garage, adding to the property's appeal. Located in a high-demand area, the property experiences low vacancy rates. The recent upgrades lower maintenance costs and enhance tenant satisfaction.
Property Facts
| Price | $3,500,000 | Apartment Style | Low Rise |
| Price Per Unit | $437,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Cap Rate | 5.18% | Building Size | 6,250 SF |
| Gross Rent Multiplier | 13.57 | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1961 |
| Property Subtype | Apartment | Parking Ratio | 1.25/1,000 SF |
| Price | $3,500,000 |
| Price Per Unit | $437,500 |
| Sale Type | Investment |
| Cap Rate | 5.18% |
| Gross Rent Multiplier | 13.57 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 6,250 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1961 |
| Parking Ratio | 1.25/1,000 SF |
Unit Amenities
- Air Conditioning
- Cable Ready
- Washer/Dryer Hookup
- Refrigerator
- Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | 440 |
| 2+1 | 4 | - | 750 |
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PROPERTY TAXES
| Parcel Number | 016-315-300 | Improvements Assessment | $1,651,429 |
| Land Assessment | $1,748,571 | Total Assessment | $3,400,000 |
PROPERTY TAXES
Parcel Number
016-315-300
Land Assessment
$1,748,571
Improvements Assessment
$1,651,429
Total Assessment
$3,400,000
zoning
| Zoning Code | N/Av, Pacifica |
| N/Av, Pacifica |
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Mitchell Zurich -
Fred Rubio -
Marcus & Millichap
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2408-2412 Palmetto Ave
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