50 Corte Real
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50 Corte Real
9 Unit Apartment Building $4,995,000 ($555,000/Unit) Greenbrae, CA 94904
Investment Highlights
- Very large ±1,500 SF townhome floor plans
- Nine units total (Six very large 2 bedroom-2.5 bath townhome units / Three large 2 bedroom - 2 bathroom)
- Many "big ticket" capital upgrades completed
- Some of the largest apartment floor plans in Marin County
- All units have fireplaces, multiple decks, views, ample storage
- Potential turn-key ADU conversion for 10th studio unit for additional $22,800/yr income
Executive Summary
50 Corte Real is rare investment opportunity in Greenbrae, CA. This property consists of a best in class 9 unit building with some of the largest apartment floor plans in Marin County. The building is divided into two separate buildings. Six units consist of a highly sought after townhome two-story layout that is 2 bedrooms / 2.5 baths at ±1,500 SF (buyer to verify). Three units consist of 2 bedrooms / 2 baths at ±1,350 SF (buyer to verify) each with front and rear decks. Each unit consist of multiple decks, Mt. Tamalpais views, fireplaces, central heating, and ample storage. The parcel is 20,000 SF (.46 acres) providing a peaceful open space setting for some of the best apartment living Marin is known for.
In addition, a 10th ADU studio unit is possible with a former unused space already built out and ±7 ft. ceilings. Estimated market rent to be $1,900 per month. Buyer to research ADU possibility with the County of Marin.
Built in 1972, the property features very spacious floor plans and ample parking and an on-site pool making this one of the premier buildings in the highly sought after Greenbrae area. With very spacious floor plans and a tremendous unit mix, this asset represents an excellent opportunity for investors seeking a best in class building in a phenomenal Marin County location. Don't miss the chance to add this exceptional property to your investment portfolio.
**Tours scheduled by appointment only.
In addition, a 10th ADU studio unit is possible with a former unused space already built out and ±7 ft. ceilings. Estimated market rent to be $1,900 per month. Buyer to research ADU possibility with the County of Marin.
Built in 1972, the property features very spacious floor plans and ample parking and an on-site pool making this one of the premier buildings in the highly sought after Greenbrae area. With very spacious floor plans and a tremendous unit mix, this asset represents an excellent opportunity for investors seeking a best in class building in a phenomenal Marin County location. Don't miss the chance to add this exceptional property to your investment portfolio.
**Tours scheduled by appointment only.
Property Facts
| Price | $4,995,000 | Building Class | C |
| Price Per Unit | $555,000 | Lot Size | 0.46 AC |
| Sale Type | Investment | Building Size | 13,000 SF |
| No. Units | 9 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1973 |
| Apartment Style | Low Rise |
| Price | $4,995,000 |
| Price Per Unit | $555,000 |
| Sale Type | Investment |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.46 AC |
| Building Size | 13,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1973 |
Unit Amenities
- Balcony
- Dishwasher
- Storage Space
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 3 | - | 1,350 |
| 2+2.5 | 6 | - | 1,500 |
PROPERTY TAXES
| Parcel Number | 022-283-03 | Improvements Assessment | $2,297,339 |
| Land Assessment | $2,101,456 | Total Assessment | $4,398,795 |
PROPERTY TAXES
Parcel Number
022-283-03
Land Assessment
$2,101,456
Improvements Assessment
$2,297,339
Total Assessment
$4,398,795
zoning
| Zoning Code | R-3, Larkspur |
| R-3, Larkspur |
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