150 Shoreline Hwy Pending Save Request In-Person Tour Request Virtual Tour
Mill Valley,CA 94941
Key Details
Property Type Commercial
Sub Type Garden Apts
Listing Status Pending
Purchase Type For Sale
Square Footage 15,148 sqft
Price per Sqft $316
MLS Listing ID 41042766
HOA Y/N No
Year Built 1971
Lot Size 0.861 Acres
Acres 0.86
Property Sub-Type Garden Apts
Property Description
3-Buildings 24 or 48-Units 15,148 Square Feet Total First-Time on the Market in 50-Years LOTS of Potential Uses INVESTORS ... good cash-flow and 5% Cap-Rates with the current Tenants INVESTORS #2 ... 10% Cap-Rates by converting back to market-rate housing INVESTORS #3 ... Convert to affordable condos to sell individually or make into live/work spaces ... over $3-million upside potential YMBY (YES in My Backyard) ... Non-Profit Groups - convert to housing for Disabled Veterans, or other vital programs YMBY #2 ... Potential to double the number of units to 48 studio apartments ... upstairs units can be adapted to have separate entrances ... see the Matterport Tour for a sample of an upstairs studio COMPANY HEADQUARTERS ... High-Visibility Location, excellent parking, campus-like setting and immediate access to Highway-101 make this an interesting option. A FEW NUMBERS : $100,000 or $200,000 per unit 24-units (1-bedroom) or 48-units (studio apartments) Possibly build more units 3 buildings - about 5,000 square feet per building The asking price is $318 per square foot, which is way below what it would cost to build in today's market OK to drive around the buildings - but, please DO NOT ENTER BUILDINGS or DISTURB TENANTS
Location
State CA
County Marin
Area Listing
Rooms
Basement None
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Carpet
Fireplace No
Exterior
Exterior Feature Greenbelt
Building
Lot Description Level,Premium Lot
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 05237104
Virtual Tour https://my.matterport.com/show/?m=LKBRknJi354&brand=0