17 Clay Ct - Apartments FOR SALE


Novato, CA 94949
$1,885,000 USD
415-625-2131
17 Clay Ct, Novato, CA for Sale
$1,885,000 USD
Apartments - FOR SALE
1/9
null | 5.44% Cap Rate

17 Clay Ct
Novato, CA 94949


HIGHLIGHTS

  • Quality fourplex with (3) large 2-bedroom units, and (1) extra large 3-bedroom unit.
  • Ease of management due to Owner's Association covering common maintenance.
  • Rare starting 5.44% Cap Rate for Marin, with potential to achieve 6.05% Cap Rate.
  • High demand rental community.
  • May be purchased with 33 Clay Court to assemble 8-units.

OVERVIEW

17 Clay Court is a quality fourplex located in the attractive Pacheco Villas apartment community in Novato. The community is surrounded by the Pacheco Valle Preserve, a beautiful, undeveloped 519-acre refuge. This is the southernmost location in Novato, Marin County’s largest city by geography. Pacheco Villas is a quiet, low-density development with scenic grounds and each building is comprised of large apartments offering a home-like alternative for tenants seeking a peaceful, family-friendly community. There is easy access to Hwy 101, with employment, schools, and shopping just a short drive away. Priced at a starting cap rate of 5.44% with the potential to reach over a 6% cap rate at demonstrated market rents, this investment opportunity provides immediate cashflow with upside - a rare find in Marin County. 33 Clay Court, another 4-plex at Pacheco Villas, is also listed for sale by the same seller and the properties may be purchased together or separately.

FOR SALE DETAILS

PRICE

$1,885,000 USD

PRICE/SF

$471 USD /SF

# OF UNITS

4

PRICE/UNIT

$471,250

CAP RATE

5.44%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

17 Clay Court @ Pacheco Villas

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1978

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,492 SF

ZONING

-

APN/PARCEL ID

160-581-14

ASK ABOUT THIS PROPERTY

John GarrettMarcus & MillichapMore Info
415-625-2131

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John GarrettMarcus & MillichapMore Info
415-625-2131

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