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Property view

49 Ignacio Lane, 
Novato, CA 94949

$2,900,000


—

Bed


2

Baths


6,800

Sq Ft


Multi-Family

Sold

Listed by

John W Garrett

Bought with Marcus & Millichap

Marcus & Millichap

MLS#

323047566

Source:

CABAREIS

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About This Home

49 Ignacio Lane

Ignacio Lane Apartments is a well located property adjacent to open space and neighborhood retail, offering 10 stylish, loft-like studios, each with private outdoor areas. Well maintained and fully occupied, the property presents an excellent investment opportunity that provides immediate cash flow. The building benefits from recently replaced electrical subpanels, roof, common water heater, and new card operated laundry machines. Select units are updated with vinyl plank flooring, granite countertops, and stainless steel electric appliances. The property is turnkey with demonstrated high rents of $2,000/mo plus a utility reimbursement program to offset water and garbage expenses. 5.01% Cap Rate on current rents, and a 5.63% Cap Rate with all rents at the demonstrated high of $2,000. Ignacio Lane Apartments is a quality investment asset, positioned to provide its new owner with immediate, reliable cash flow and long-term appreciation in a highly constrained, blue-chip Bay Area submarket.

Home Facts

Multi-Family

2 Baths

Built in 1974

Price Summary

3,000,000

$441 per Sq. Ft.

MLS #:

323047566

Sold:

November 30, 2023


Rooms & Interior

Bathrooms

Total Bathrooms:

2

Full Bathrooms:

2

Interior

Living Area:

6,800 Sq. Ft.


Structure

Structure

Building Area:

6,800 Sq. Ft.

Year Built:

1974


Lot

Lot Size (Sq. Ft):

29,799


Finances & Disclosures

Finances

Price:

$3,000,000

Price per Sq. Ft:

$441 per Sq. Ft.

Source:CABAREIS
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