195 Los Robles Rd - Apartments FOR SALE


Novato, CA 94949
$16,495,000 USD
510-725-4775
195 Los Robles Rd, Novato, CA for Sale
$16,495,000 USD
Apartments - FOR SALE
1/36
null | 6.94% Cap Rate

195 Los Robles Rd
Novato, CA 94949


HIGHLIGHTS

  • Countless Improvements, Featuring: New Roofs, Upgraded Plumbing, Recently-Replaced Water Mains, Storm Drains, New Windows, and Current Seismic Upgrade
  • Extensive Unit Renovations Completed in 2017, Including Updated Kitchens & Bathrooms, Hardwood Cabinetry, and Large Private Decks
  • 2:1 Off-Street Parking Ratio, Onsite Coin-Operated Laundry, Fully-Functional Elevator, Private Courtyard and a Community Pool
  • 35,346 SF of Rentable Space Set on a Massive 1.04 Acre Parcel - Boasting Lush, Mature Landscaping & Ample Storage Space Currently Leased to Tenants
  • Delivered 100% Occupied by Stable Tenants Paying Close to Market Rate, with No Delinquencies

OVERVIEW

The Pinza Group, Inc. is pleased to present Ignacio Pines Apartments, an exceptionally well-maintained 39 unit multifamily property offering a prime location in Novato, CA. Comprised of two (2) three-story structures, the buildings feature an ideal unit mix of (33) 2bd/1bth, (3) 2bd/2bth, and (3) 1bd/1bth units. 195 Los Robles Road contains 35,346 SF of rentable space set on over an acre of land, boasting 78 off-street parking stalls, onsite coin-operated laundry, meticulously-maintained common areas, and an elevator for convenient tenant access. Current ownership has invested in substantial capital improvements, including: recently-replaced roof(s), upgraded plumbing fixtures, a well-maintained community pool, new storm drains, windows, and various unit renovations throughout. 195 Los Robles Road will be delivered 100% occupied by stable tenants paying close to market rate, allowing future ownership to take advantage of tenant turnover, annual adjustments, and utility passthroughs in order to maximize return on investment. Additionally, prospective investors have the option to take advantage of an assumable loan option with excellent terms. Ignacio Pines offers a prime location to residents, with close proximity to restaurants, retail shopping outlets, commute options such as U.S. Route 101, and just a short drive to San Pablo Bay.

FOR SALE DETAILS

PRICE

$16,495,000 USD

PRICE/SF

$467 USD /SF

# OF UNITS

39

PRICE/UNIT

$422,949

CAP RATE

6.94%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ignacio Pines

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1964

PARKING SPACES

78

LAND DETAILS

LAND ACRES

1.04 AC

LAND SF

45,302 SF

ZONING

PD

APN/PARCEL ID

160-302-30

ASK ABOUT THIS PROPERTY

Steven PinzaPinza GroupMore Info
510-725-4775

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Steven PinzaPinza GroupMore Info
510-725-4775

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