329-339 Olema Rd 329 Olema Rd

Three duplexes are priced at $1,000,000 each, with one discounted $500,000 for needed repairs. The properties are being sold as a package for $2,500,000 AS IS. The listed price is $2,500,000. The economics are based on a $3,000,000 fixed-up valuation.
An incredible Marin County investment opportunity in the unincorporated section west of Fairfax.

The property is located on .78 acres (33,927 sf) of land. Built in 1964, the site includes three side-by-side duplexes totaling 8,568 sf. Each townhouse unit features 1,428sf, 3 BR/1.5 BA apartments with a large kitchen, a dinner area, a living room, a patio area, and a private laundry room. They are thoughtfully designed for modern living. The property's open layout gives each building a sense of privacy and lends itself to future development, such as ADUs.
Three separate parcels; however, necessary easements for driveway, parking, utilities, etc. between the properties still need to be created and recorded. Buyer to confirm with the County.
As Duplexes with 3 BRs are rare, the rental income for this property is generous, with units being rented in the $4500 range.
Overall, the property seems to be in good condition, however, a neighboring property caused a mudslide above the middle upper duplex. While, we understand, the cause has been repaired, these two units remain empty and still need substantial repairs, as well as the hillside directly above. Experience the charm of Fairfax, known for its vibrant community, outdoor activities, and artistic spirit.
Call for a link to all disclosures and reports before making an offer.
Note: Income and expense information assumes damaged units are remodeled and rented.