195 Los Robles Rd - Apartments FOR SALE


Novato, CA 94949
$14,500,000 USD
415-754-8489
195 Los Robles Rd, Novato, CA for Sale
$14,500,000 USD
Apartments - FOR SALE
1/22
null | 5.43% Cap Rate

195 Los Robles Rd
Novato, CA 94949


OVERVIEW

Ignacio Pines features a well-maintained 39-unit multifamily community located at 195 Los Robles Road in Novato, California. Situated on an expansive 1.04-acre parcel, the property encompasses approximately 35,346 square feet of rentable space and offers an attractive unit mix consisting primarily of (36) two-bedroom, one-bathroom apartments, complemented by (2) one-bedroom, one-bathroom units and one on-site manager's unit. The property has benefited from extensive capital improvements and renovations, positioning it as a turnkey investment with limited near-term deferred maintenance. Significant upgrades include new roofs, upgraded plumbing, replaced water mains, storm drain improvements, new dual-pane windows, and a current seismic retrofit, providing long-term operational stability for future ownership. Interior renovations completed throughout the property include modernized kitchens and bathrooms, hardwood cabinetry, updated finishes, and spacious private decks for residents. Residents enjoy a comprehensive amenity package featuring an approximately 2:1 off-street parking ratio, a fully operational elevator, individual balconies, on-site coin-operated laundry facilities, a shared landscaped courtyard including a swimming pool, generous communal storage areas with storage lockers, and mature landscaping throughout the grounds. Ignacio Pines is offered 100% occupied with a stable tenant base paying rents that are generally near market levels and exhibiting an excellent payment history with no current delinquencies. The combination of strong in-place cash flow, substantial recent capital improvements, and desirable community amenities presents investors with an exceptional opportunity to acquire a high-quality Marin County apartment asset.

FOR SALE DETAILS

PRICE

$14,500,000 USD

PRICE/SF

$410 USD /SF

# OF UNITS

39

PRICE/UNIT

$371,795

CAP RATE

5.43%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ignacio Pines

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1964

PARKING SPACES

78

LAND DETAILS

LAND ACRES

1.04 AC

LAND SF

45,302 SF

ZONING

PD

APN/PARCEL ID

160-302-30

ASK ABOUT THIS PROPERTY

Andrew BlackEngel & VolkersMore Info
415-754-8489

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Andrew BlackEngel & VolkersMore Info
415-754-8489

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