Bella Vista | 255 Channing Way
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Bella Vista 255 Channing Way
14 Unit Apartment Building $5,600,000 ($400,000/Unit) 6% Cap Rate San Rafael, CA 94903
Executive Summary
Major price reduction! This 14-unit apartment building offers a turn key investment opportunity in a sought-after area. The property has been well-maintained and features recently remodeled units, including new floors, updated kitchens, and modern appliances. Each apartment is spacious, with plenty of natural light throughout. The building benefits from a history of strong occupancy rates and high rental demand, providing steady income potential. Additionally, it has been optimized for low operating costs with separate PG&E meters and a partial Ratio Utility Billing System (RUBS) in place. Ideal for investors, this property offers long-term stability and an attractive return on investment due to its solid rental market and low expenses.
Property Facts
| Price | $5,600,000 | Apartment Style | Low Rise |
| Price Per Unit | $400,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.67 AC |
| Cap Rate | 6% | Building Size | 13,300 SF |
| Gross Rent Multiplier | 10.9 | Average Occupancy | 93% |
| No. Units | 14 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment | Parking Ratio | 1.5/1,000 SF |
| Price | $5,600,000 |
| Price Per Unit | $400,000 |
| Sale Type | Investment |
| Cap Rate | 6% |
| Gross Rent Multiplier | 10.9 |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.67 AC |
| Building Size | 13,300 SF |
| Average Occupancy | 93% |
| No. Stories | 2 |
| Year Built | 1965 |
| Parking Ratio | 1.5/1,000 SF |
Unit Amenities
- Balcony
- Storage Space
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 14 | - | 950 |
PROPERTY TAXES
| Parcel Number | 155-092-20 | Improvements Assessment | $3,400,664 |
| Land Assessment | $2,734,075 | Total Assessment | $6,134,739 |
PROPERTY TAXES
Parcel Number
155-092-20
Land Assessment
$2,734,075
Improvements Assessment
$3,400,664
Total Assessment
$6,134,739
zoning
| Zoning Code | R3 BD15, San Rafael |
| R3 BD15, San Rafael |
Contacts
-
Michael Johnston -
Stephen Pugh -
Berkshire Hathaway HomeServices Drysdale Propertie
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Bella Vista | 255 Channing Way
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