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150 Shoreline Hwy
Mill Valley, CA 94941

$4,800,000 USD

Apartments For Sale  •  19,498 SF

Property Details

  • Property Type Apartments
  • Total Building Size 19,498 SF
  • Lot Size 0.89 AC
  • Building Class C
  • Year Built 1971
  • Cap Rate 10.00 %
  • Zoning CP, Mill Valley
0 Transit Score
49 Walk Score

Highlights

INVESTORS ... good cash-flow and 5% Cap-Rates with the current Tenants
INVESTORS #2 ... 10% Cap-Rates by converting 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, Battered Women's Shelter, Teacher's Village, Clean-and-Sob
YMBY #2 ... Potential to double the number of units to 48 studio apartments ... upstairs units can be adapted to have separate entrances
CHURCH, SCHOOL or COMPANY HEADQUARTERS ... High-Visibility Location, excellent parking, campus-like setting and immediate access to Highway-101

Property Flyers

Cap Rate: 10.00 %

Public Transportation

Commuter RailDriveWalkDistance
Larkspur Smart (Main Line - Sonoma Marin Area Rail Transit) 10 min - 5.5 mi
San Rafael Smart (Main Line - Sonoma Marin Area Rail Transit) 11 min - 7.5 mi
AirportDriveWalkDistance
San Francisco International 40 min - 24.2 mi
Metro Oakland International 48 min - 35.0 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 50
Type: Surface
Included in Rent: Yes
Kevin O'Brien 925-595-0422 Re/Max Accord
Kevin O'Brien 925-595-0422 Re/Max Accord