50 Corte Real - Apartments FOR SALE


Greenbrae, CA 94904
$4,995,000 USD
415-259-9642
50 Corte Real, Greenbrae, CA for Sale
$4,995,000 USD
Apartments - FOR SALE
1/11
null | Request Cap Rate

50 Corte Real
Greenbrae, CA 94904


HIGHLIGHTS

  • Very large ±1,500 SF townhome floor plans
  • Some of the largest apartment floor plans in Marin County
  • Nine units total (Six very large 2 bedroom-2.5 bath townhome units / Three large 2 bedroom - 2 bathroom)
  • All units have fireplaces, multiple decks, views, ample storage
  • Many "big ticket" capital upgrades completed
  • Potential turn-key ADU conversion for 10th studio unit for additional $22,800/yr income

OVERVIEW

50 Corte Real is rare investment opportunity in Greenbrae, CA. This property consists of a best in class 9 unit building with some of the largest apartment floor plans in Marin County. The building is divided into two separate buildings. Six units consist of a highly sought after townhome two-story layout that is 2 bedrooms / 2.5 baths at ±1,500 SF (buyer to verify). Three units consist of 2 bedrooms / 2 baths at ±1,350 SF (buyer to verify) each with front and rear decks. Each unit consist of multiple decks, Mt. Tamalpais views, fireplaces, central heating, and ample storage. The parcel is 20,000 SF (.46 acres) providing a peaceful open space setting for some of the best apartment living Marin is known for. In addition, a 10th ADU studio unit is possible with a former unused space already built out and ±7 ft. ceilings. Estimated market rent to be $1,900 per month. Buyer to research ADU possibility with the County of Marin. Built in 1972, the property features very spacious floor plans and ample parking and an on-site pool making this one of the premier buildings in the highly sought after Greenbrae area. With very spacious floor plans and a tremendous unit mix, this asset represents an excellent opportunity for investors seeking a best in class building in a phenomenal Marin County location. Don't miss the chance to add this exceptional property to your investment portfolio. **Tours scheduled by appointment only.

FOR SALE DETAILS

PRICE

$4,995,000 USD

PRICE/SF

$384 USD /SF

# OF UNITS

9

PRICE/UNIT

$555,000

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1973

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.46 AC

LAND SF

19,994 SF

ZONING

R-3, Larkspur

APN/PARCEL ID

022-283-03

ASK ABOUT THIS PROPERTY

Samuel KoMeridian CommercialMore Info
415-259-9642

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Samuel KoMeridian CommercialMore Info
415-259-9642

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