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37 Pacheco St 6 Unit Apartment Building $2,200,000 ($366,667/Unit) 4.13% Cap Rate San Rafael, CA 94901
INVESTMENT HIGHLIGHTS
- 3 Renovated Units
- Seporate Electricity Meters.
- TPO Roof Installed in 2022
- Nice Tenant Amenities for Future Prospects
EXECUTIVE SUMMARY
North Bay Property Advisors is proud to offer for sale 37 Pacheco Street, San Rafael. This well maintained 6-unit multifamily investment opportunity was built in 1974 and totals approximately 3,204 square feet. The property consists of three studio units and three one-bedroom units. Three of the apartments have been extensively renovated with modern kitchens, updated bathrooms, and refreshed living spaces. Each unit is individually metered for electricity and features its own HVAC system, along with an in-unit washer and dryer, offering tenants convenience and privacy, and enhancing the desirability of future prospects. The exterior of the property includes nine off-street parking spaces, a new TPO roof installed in 2022, and private patios for tenants' enjoyment. This professionally managed and consistently maintained apartment complex presents a compelling opportunity for investors seeking a stable, turnkey asset in the heart of Marin County.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$155,101
|
$39.93
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$4,653
|
$1.20
|
| Effective Gross Income |
$150,448
|
$38.74
|
| Taxes |
$35,120
|
$9.04
|
| Operating Expenses |
$24,379
|
$6.28
|
| Total Expenses |
$59,499
|
$15.32
|
| Net Operating Income |
$90,949
|
$23.42
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $155,101 |
| Annual Per SF | $39.93 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $4,653 |
| Annual Per SF | $1.20 |
| Effective Gross Income | |
|---|---|
| Annual | $150,448 |
| Annual Per SF | $38.74 |
| Taxes | |
|---|---|
| Annual | $35,120 |
| Annual Per SF | $9.04 |
| Operating Expenses | |
|---|---|
| Annual | $24,379 |
| Annual Per SF | $6.28 |
| Total Expenses | |
|---|---|
| Annual | $59,499 |
| Annual Per SF | $15.32 |
| Net Operating Income | |
|---|---|
| Annual | $90,949 |
| Annual Per SF | $23.42 |
PROPERTY FACTS
| Price | $2,200,000 | Apartment Style | Low-Rise |
| Price Per Unit | $366,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 4.13% | Building Size | 3,884 SF |
| Gross Rent Multiplier | 14.18 | Average Occupancy | 0% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1974 |
| Property Subtype | Apartment | Parking Ratio | 2.32/1,000 SF |
| Zoning | R/O - Residential / Office District | ||
| Price | $2,200,000 |
| Price Per Unit | $366,667 |
| Sale Type | Investment |
| Cap Rate | 4.13% |
| Gross Rent Multiplier | 14.18 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 3,884 SF |
| Average Occupancy | 0% |
| No. Stories | 2 |
| Year Built | 1974 |
| Parking Ratio | 2.32/1,000 SF |
| Zoning | R/O - Residential / Office District |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Patio
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 3 | - | - |
| 1+1 | 2 | - | - |
| 1+1.5 | 1 | - | - |
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Walk Score®
Walker's Paradise (91)
Bike Score®
Very Bikeable (83)
PROPERTY TAXES
| Parcel Number | 011-185-09 | Total Assessment | $302,821 (2024) |
| Land Assessment | $72,108 (2024) | Annual Taxes | $35,120 ($9.04/SF) |
| Improvements Assessment | $230,713 (2024) | Tax Year | 2025 Payable 2025 |
PROPERTY TAXES
Parcel Number
011-185-09
Land Assessment
$72,108 (2024)
Improvements Assessment
$230,713 (2024)
Total Assessment
$302,821 (2024)
Annual Taxes
$35,120 ($9.04/SF)
Tax Year
2025 Payable 2025
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37 Pacheco St
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