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401 Norman Drive

Novato, CA 94949
  • $1,350,000
  • STATUS: Active
  • ON SITE: 17 Days
  • ID#: 321107381
UPDATED: 40 min ago
$1,350,000
  • 0
    BEDS
  • 0.16
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 2,400
    SQFT
  • $563
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1954
County:
Area:

School Ratings & Info

Description

Located in a high demand rental area in coveted Marin County, this apartment complex provides a great value-add opportunity for a new or experienced investor. Built in 1954, this unique complex is comprised of eight efficient studio units in a single-level building situated on a level lot of just under 7,000 square feet. With under market rents and the potential to implement RUBS utility billing to recapture utility expenses, this property has significant upside potential. The property sits adjacent to the Ignacio Center and Pacheco Plaza Shopping Malls in southern Novato and is located just 20 miles north of San Francisco. The building is also just south of Vintage Oaks Shopping Center, which features retail stores and restaurants including Target, Costco, Starbucks, In-N-Out Burger and HopMonk Tavern.

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© 2021 Bay Area Real Estate Information Services, Inc. All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Hiraeth Homes. Data last updated: 2021-12-06T11:56:49.293.
www.hiraethhomes.com/homes/123398996
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401 Norman Drive Novato, CA 94949

  • Price: $1,350,000
  • Status: Active
  • On Site: 17 Days
  • Updated: 40 min ago
  • ID#: 321107381
0
Beds
0
Baths
0
½ Baths
0.16
Acres
2,400
SQFT
$563
$/SQFT
1954
Built
Neighborhood:
Novato
County:
Marin
Area:
Novato
Property Description
Located in a high demand rental area in coveted Marin County, this apartment complex provides a great value-add opportunity for a new or experienced investor. Built in 1954, this unique complex is comprised of eight efficient studio units in a single-level building situated on a level lot of just under 7,000 square feet. With under market rents and the potential to implement RUBS utility billing to recapture utility expenses, this property has significant upside potential. The property sits adjacent to the Ignacio Center and Pacheco Plaza Shopping Malls in southern Novato and is located just 20 miles north of San Francisco. The building is also just south of Vintage Oaks Shopping Center, which features retail stores and restaurants including Target, Costco, Starbucks, In-N-Out Burger and HopMonk Tavern.
Exterior Features

Carport Spaces 0 Covered Spaces 0 Foundation Details ConcreteSlab Independent Parking Spaces 0 Lot Features Landscape Front Open Parking Spaces 0 Parking Features Open Parking Total 4 Roof CompositionShingle Tandem Parking Spaces 0

Interior Features

1 Bedroom Units Total 0 2 Bedroom Units Total 0 3 Bedroom Units Total 0 4 Bedroom Units Total 0 Commercial Units Total 0 Cooling None Heating Wall Furnace Laundry Features Coin OperatedIn Common Area Studio Units Total 8

Property Features

Association Fee 0 Association YN No Auction No Availability Date 1800-01-01T00:00:00 Gross Income 97320 Property Sub Type 5 Or More Units Property Type Residentialincome Separate Meters Gas Sewer Public Sewer Subtype Description Apartments Tenant Pays Gas Water Source Public

Listing information © 2021 Bay Area Real Estate Information Services.
Listing courtesy of Steven Level of Berkshire Hathaway.


© 2021 Bay Area Real Estate Information Services, Inc. All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Hiraeth Homes. Data last updated: 2021-12-06T11:56:49.293.
 
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