1118 Sir Francis Drake Blvd - Apartments FOR SALE


Kentfield, CA 94904
$10,500,000 USD
415-877-1077
1118 Sir Francis Drake Blvd, Kentfield, CA for Sale
$10,500,000 USD
Apartments - FOR SALE
1/12
null | 4.9% Cap Rate

1118 Sir Francis Drake Blvd
Kentfield, CA 94904


HIGHLIGHTS

  • Incredible Central Marin location in Kentfield.

OVERVIEW

Ideally located in the heart of affluent central Marin, this well-positioned property sits directly across from Kentfield Hospital and just two blocks west of the College of Marin. The highly desirable Kentfield location offers residents convenient access to major employers, retail, dining, and transportation corridors. Originally constructed in 1955, The Ross Apartments have been meticulously maintained by long-term ownership. While select improvements have been completed over the years, the property presents a strong value-add opportunity for future modernization and interior upgrades . The unit mix consists of four 2-bedroom apartments, twenty-six 1-bedroom apartments, and one spacious studio unit. Parking accommodations include garages with tandem spaces, covered carports, and additional open parking – one space per apartment Residents enjoy mature, low-maintenance landscaping centered around an attractive interior courtyard setting. Most units feature shared outdoor decks adjoining the living areas, and all apartments include hardwood flooring. The Ross Apartments present a compelling investment opportunity in a high-demand market supported by stable tenancy and meaningful rental upside potential. The property consists of a four-story wood-frame building with a stucco exterior on a concrete perimeter foundation. Originally constructed in 1955, much of the asset remains in its classic condition, offering investors the flexibility to maintain current operations or unlock additional value through a comprehensive renovation strategy. Parking amenities include a mix of garages, carports, and open space with one assigned to each unit. Residents also benefit from an on-site laundry facility and dedicated storage lockers. Capital improvements are already underway. The roof consists of five sections, three of which have been recently replaced, with the remaining two scheduled for replacement. All electrical subpanels have been upgraded, and bedroom windows have been modernized with dual-pane glass, while living room windows remain in their original configuration. The property has historically operated with a central boiler heating system with heat paid for by ownership. A transition is currently in progress to individual electric heating units in each apartment, billed directly to tenants through their PG&E accounts, creating greater operational efficiency and reduced owner expense.

FOR SALE DETAILS

PRICE

$10,500,000 USD

PRICE/SF

$519 USD /SF

# OF UNITS

31

PRICE/UNIT

$338,710

CAP RATE

4.9%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ross Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1955

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.64 AC

LAND SF

28,000 SF

ZONING

RMP-20, Marin County

APN/PARCEL ID

071-121-22

ASK ABOUT THIS PROPERTY

Michael BurkeGolden Gate Sotheby's International RealtyMore Info
415-877-1077

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Michael BurkeGolden Gate Sotheby's International RealtyMore Info
415-877-1077

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.