129 Woodland Ave Immeuble residentiel 8 lots 1 962 259 € (245 282 €/Lot) Taux de capitalisation 5 % San Rafael, CA 94901

RARE MARIN COUNTY 8-UNIT MULTIFAMILY BUILDING | IN-PLACE RENTS BELOW MARKET, GOOD CONDITION
129 Woodland Avenue presents a rare opportunity to acquire an 8-unit multifamily property in San Rafael’s Picnic Valley neighborhood, offering strong in-place occupancy, below-market rents, and significant upside through a straightforward value-add strategy.
The property is currently 100% occupied* and generates approximately $180,060 in annual gross rental income, with an in-place NOI of approximately $113,929. Current rents are positioned below the reported Marin County market average, creating an opportunity for a new owner to capture additional rental income as units turn over and rents are brought closer to market levels. The offering memorandum projects approximately $169,061 of stabilized NOI at market rents, representing substantial potential income growth.
Built in 1955, the property consists of **one two-story building totaling approximately 5,752 square feet** with eight residential units. The property features a combination of tenant amenities and common-area conveniences, including large picture windows, beamed ceilings, in-unit washer/dryers, a common room, coin-operated laundry, and carport/surface parking
The location is a key component of the investment. Situated on a hilltop in central San Rafael, 129 Woodland Avenue is within a short walk of Downtown San Rafael, providing residents with convenient access to restaurants, shops, major grocery stores, the farmers market, and the historic Rafael Theater. Multiple shopping centers, parks, public transportation, and freeway connections are also located nearby.
San Rafael serves as the county seat and civic and cultural center of Marin County, offering residents convenient access to the broader Bay Area while maintaining the character and amenities of a Marin County community. The city features a vibrant downtown, numerous parks, recreational opportunities, and access to destinations including China Camp State Park.