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    509 Canal Street

    San Rafael, CA 94901
    • $6,000,000
    • STATUS: Active
    • ON SITE: 222 days
    • ID#: 22017028
    UPDATED: 45 min ago
    $6,000,000
    • 0
      BEDS
    • 0.62
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 21,236
      SQFT
    • $283
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1961
    County:
    Area:

    School Ratings & Info

    Description

    The Harbor View Apartments is a 28-unit complex in the Canal area of San Rafael offering significant upside for the long term buyer. There are 3-3BR apartments and 25-2BR units. Overall, the building is in average condition and in need of remodeling and upgrading. 13 of the units are set aside as low income for a period of time. Garden courtyard 1961 design around a center swimming pool with 28 covered parking spaces. The building has two water heaters, a common laundry room, gas fired wall heaters, and kitchens have a gas stove. Rents are significantly below the market. The property is priced giving consideration to the current low rents, need of work and the deed restriction for below market rents on 13 of the 28 units. There is a $450,000 Re-Development loan which may be assumed and is forgiven over the next 12 years. BMR units may be rented at market to Sec 8 tenants.

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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 RE/MAX GOLD. Data last updated: 2021-03-05T23:57:35.137.
    www.sonomamarinhomes.com/homes/108252775
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    509 Canal Street San Rafael, CA 94901

    • Price: $6,000,000
    • Status: Active
    • Updated: 45 min ago
    • ID#: 22017028
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.62
    Acres
    21,236
    SQFT
    $283
    $/SQFT
    1961
    Built
    Neighborhood:
    San Rafael
    County:
    Marin
    Area:
    San Rafael
    Property Description
    The Harbor View Apartments is a 28-unit complex in the Canal area of San Rafael offering significant upside for the long term buyer. There are 3-3BR apartments and 25-2BR units. Overall, the building is in average condition and in need of remodeling and upgrading. 13 of the units are set aside as low income for a period of time. Garden courtyard 1961 design around a center swimming pool with 28 covered parking spaces. The building has two water heaters, a common laundry room, gas fired wall heaters, and kitchens have a gas stove. Rents are significantly below the market. The property is priced giving consideration to the current low rents, need of work and the deed restriction for below market rents on 13 of the 28 units. There is a $450,000 Re-Development loan which may be assumed and is forgiven over the next 12 years. BMR units may be rented at market to Sec 8 tenants.
    Exterior Features

    Carport Spaces 28 Covered Spaces 0 Foundation Details Slab Independent Parking Spaces 0 Open Parking Spaces 0 Parking Features Carport Parking Total 0 Roof Tar/Gravel Tandem Parking Spaces 0

    Interior Features

    1 Bedroom Units Total 0 2 Bedroom Units Total 25 3 Bedroom Units Total 3 4 Bedroom Units Total 0 Commercial Units Total 0 Heating Wall Furnace Laundry Features Coin OperatedIn Common Area Studio Units Total 0

    Property Features

    Association Amenities Pool Association Fee 0 Association YN No Auction No Availability Date 1/1/1800 12:00:00 AM Gross Income 526100 Property Sub Type 5 Or More Units Property Type Residentialincome Separate Meters ElectricityGas Sewer Public Sewer Special Listing Conditions None Subtype Description Apartments Tenant Pays ElectricityGas Water Source Public

    Listing information © 2021 Bay Area Real Estate Information Services.
    Listing courtesy of Michael J Burke of Golden Gate Sotheby's International Realty.


    © 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 RE/MAX GOLD. Data last updated: 2021-03-05T23:57:35.137.
     
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