45 Woodland Ave - Apartments FOR SALE


San Rafael, CA 94901- Bert Harte
$11,875,000 USD
415-259-9891
45 Woodland Ave, San Rafael, CA for Sale
$11,875,000 USD
Apartments - FOR SALE
1/94
null | 5.01% Cap Rate

45 Woodland Ave
San Rafael, CA 94901
Bert Harte


HIGHLIGHTS

  • Major Upside: 9%+ Market Cap Rate
  • Mix of 1-3x1, 30-2x1, 32-1x1 & 2-Studio
  • New Subpanels, Paint, Windows, 8 of 10 Roofs
  • Swimming Pool, Laundry, Picnic Areas
  • SB-721 Compliance Complete
  • Level 2.18 Acre Site

OVERVIEW

Showings by appointment only. Offering Memorandum available upon request. Contact Kate at (415) 259-9891 or kate@norcalre.com Located in the heart of highly sought-after Marin County, this 65-unit multifamily community offers investors the rare combination of scale, location, and compelling long-term upside in one of the Bay Area’s most affluent and supply-constrained rental markets. Situated on approximately 2.18 acres across three parcels, the property is comprised of two well-maintained complexes, Woodland Park-32 units & Woodland Gardens-33 units, located just moments from downtown shopping, dining, public transit, and major commuter routes. The property features a desirable and balanced unit mix consisting of 1 three-bedroom unit, 30 two-bedroom units, 32 one-bedroom units and 2 studio units, providing broad market appeal and durable occupancy fundamentals. Residents benefit from a strong amenity package including a swimming pool, multiple outdoor picnic and recreation areas, on-site laundry facilities, covered and open parking. Recent capital improvements have significantly enhanced the asset’s condition and curb appeal, including vinyl dual-pane windows throughout, updated two-tone exterior paint, replastered swimming pool, new electrical subpanels and eight new roofs. The property presents an attractive blend of stabilized cash flow and future value-add potential through continued operational optimization and significant rental upside. Opportunities to acquire a multifamily asset of this size in Marin County are exceptionally limited. With its premier Central Marin location, strong physical infrastructure, and attractive resident amenities, the property is well-positioned to benefit from continued demand drivers and long-term rental growth within one of Northern California’s most resilient apartment markets.

FOR SALE DETAILS

PRICE

$11,875,000 USD

PRICE/SF

$235 USD /SF

# OF UNITS

65

PRICE/UNIT

$182,692

CAP RATE

5.01%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Woodland Park & Gardens Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1957

PARKING SPACES

86

LAND DETAILS

LAND ACRES

2.18 AC

LAND SF

95,002 SF

ZONING

-

APN/PARCEL ID

013-161-15,013-161-26,013-161-30

ASK ABOUT THIS PROPERTY

Kate Raphael SmithNorCal Commercial, Inc.More Info
415-259-9891

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Kate Raphael SmithNorCal Commercial, Inc.More Info
415-259-9891

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