tel +1 415 329 4623 cell +1 415 254 4788 fax +1 415 354 3501 Rare Opportunity - 25 Units In Mill Valley Joby Tapia Senior Investment Sales Advisor O: (415) 329-4623 M: (415) 254-4788 F: (415) 354-3501 [email protected]CA BRE #01307460 Confidential Offering Memorandum presented by: 1052 Redwood Hwy, Mill Valley, CA 94941 1052 Redwood Hwy | Mill Valley, CA 94941 FOR SALE
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Rare Opportunity - 25 Units In Mill Valley FOR SALE 1052 ... · Mill Valley offers a convenient location near Hwy. 101, providing ready access to San Francisco, Napa Valley and the
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The information contained in the following Investment Summary is proprietary and strictly confidential. It is
intended to be reviewed only by the party receiving it from NAI Northern California Investment Real Estate
Brokerage and should not be made available to any other person or entity without the written consent of Broker.
This Investment Summary has been prepared to provide summary, unverified information to prospective
purchasers, and to establish only a preliminary level of interest in the subject property. The information contained
herein is not a substitute for a thorough due diligence investigation. Broker has not made any investigation, and
makes no warranty or representation, with respect to the income or expenses for the subject property, the future
projected financial performance of the property, the size and square footage of the property and improvements,
the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal
regulations, the physical condition of improvements thereon, or the financial condition or business prospects of
any tenant, or any tenant’s plans or intentions to continue occupancy of the subject property.
The information contained in the Marketing Brochure has been obtained from sources we believe to be reliable;
however, Broker has not verified, and will not verify, any of the information contained herein, nor has Broker
conducted any investigation regarding these matters and makes no warranty or representation whatsoever
regarding the accuracy or completeness of the information provided. All potential purchasers must take
appropriate measures to verify all of the information set forth herein.
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1PROPERTYINFORMATION
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Property
DescriptionProperty Overview
Presenting the Sunset Apartments, a rare opportunity toacquire a 25 unit property in desirable Mill Valley, availablefor the first time in nearly 20 years. The subject propertyprovides a relaxing home for the residents with views ofMt. Tam and a refreshing pool to dip into on warmsummer afternoons. Stable tenancy with low vacancytranslates into a solid investment for years to come.
Location Overview
Mill Valley is located 10 miles north of San Francisco inSouthern Marin County, at the base of the iconic MountTamalpais. Its zip code (94941) is one of the mostdesirable housing locations in the Bay Area for higherincome commuters. Mill Valley offers a convenientlocation near Hwy. 101, providing ready access to SanFrancisco, Napa Valley and the East Bay. Mill Valley offerssuperior quality of life with abundant recreational activities(especially hiking and cycling), restaurants and hotels. Theschools are part of the highly rated Mill Valley SchoolDistrict.
1 PROPERTY INFORMATION
Property
DetailsPROPERTY NAME: The Sunset Apartments
PROPERTY ADDRESS: 1052 Redwood Hwy
Mill Valley, CA 94941
APN: 034-071-09
LOT SIZE: 28,348 SF
BUILDING SIZE: 12,100 SF
BUILDING CLASS:
ZONING: R3, Mill Valley
PARKING SPACES: 25
PARKING RATIO: 1:1
YEAR BUILT: 1960
NUMBER OF STORIES: 2
FOUNDATION: Concrete Slab
WALLS: Stucco
NUMBER OF UNITS: 25
ROOF: Flat Composite
1 PROPERTY INFORMATION
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HighlightsComplete
Property Highlights
• Relaxing pool area just outside front doors
• Rental upside in hot S. Marin Market
• Opportunity to increase income with RUBSimplementation
• Easy Access to Hwy. 101 and Golden Gate Transit
• 3 blocks from Tiburon Open Space Preserve hikingarea
1 PROPERTY INFORMATION
ExecutiveSummary
Property Overview
Presenting the Sunset Apartments, a rare opportunity to acquirea 25 unit property in desirable Mill Valley, available for the firsttime in nearly 20 years. The subject property provides a relaxinghome for the residents with views of Mt. Tam and a refreshingpool to dip into on warm summer afternoons. Stable tenancy withlow vacancy translates into a solid investment for years to come.
Location Overview
Mill Valley is located 10 miles north of San Francisco in SouthernMarin County, at the base of the iconic Mount Tamalpais. Its zipcode (94941) is one of the most desirable housing locations in theBay Area for higher income commuters. Mill Valley offers aconvenient location near Hwy. 101, providing ready access toSan Francisco, Napa Valley and the East Bay. Mill Valley offerssuperior quality of life with abundant recreational activities(especially hiking and cycling), restaurants and hotels. Theschools are part of the highly rated Mill Valley School District.
Property Summary
Sale Price: $6,695,000Price/Unit: $267,800Price/SF: $553Number Of Units: 25Cap Rate: 4.75%GRM: 13.48Market Cap Rate: 5.72%Market GRM: 12.32NOI: $318,013