Description
Subject property, a 4-unit multifamily property, includes an adjacent 2nd parcel for multifamily, residential development in San Rafael, California. This is a rare opportunity for an investor to purchase an in-fill development site, with a current cash-flow, allowing investors an 3.83% return on investment as they begin the entitlement/development process with the City of San Rafael. The location has a zoning designation of HR1, high-density multifamily residential, which is the highest density allowed under the City's zoning regulations. Under current multifamily residential development regulations, this would allow for up to a maximum density of 22 units on site. The ultimate number of units allowed will depend on design and consultation with the City of San Rafael. At this time there are no plans or development proposals filed with the City. This property will provide above market average yield and provide a superior longer-term development opportunity. (2nd Parcel APN011-092-15)
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3BEDS
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0.29ACRES
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4BATHS
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01/2 BATHS
School Ratings & Info
Description
Subject property, a 4-unit multifamily property, includes an adjacent 2nd parcel for multifamily, residential development in San Rafael, California. This is a rare opportunity for an investor to purchase an in-fill development site, with a current cash-flow, allowing investors an 3.83% return on investment as they begin the entitlement/development process with the City of San Rafael. The location has a zoning designation of HR1, high-density multifamily residential, which is the highest density allowed under the City's zoning regulations. Under current multifamily residential development regulations, this would allow for up to a maximum density of 22 units on site. The ultimate number of units allowed will depend on design and consultation with the City of San Rafael. At this time there are no plans or development proposals filed with the City. This property will provide above market average yield and provide a superior longer-term development opportunity. (2nd Parcel APN011-092-15)
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