Bought with Steve Easley • Meridian Commercial
$1,650,000
$1,650,000
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1020 3rd ST Novato, CA 94945
2,100 Beds
2 Baths
3,650 SqFt
Key Details
Sold Price $1,650,000
Property Type Multi-Family
Sub Type 5 or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 3,650 sqft
Price per Sqft $452
MLS Listing ID 321115284
Sold Date 02/04/22
Bedrooms 2100
HOA Y/N No
Year Built 1963
Lot Size 7,501 Sqft
Property Sub-Type 5 or More Units
Property Description
Quality five-unit building in an ideal downtown Novato location. One 2BR/1.5 BA townhouse unit and four 1BR/1BA flats. Upper apartments feature a private deck. On-site coin operated laundry and extra tenant storage rooms. Ample off-street uncovered parking. The apartments were built in 1963 and are two story, wood-frame, and stucco construction with a flat roof behind a decorative mansard roof. Overall, the property seems to be in very good condition. The main electrical panel was replaced in 2018. The building's water heater was replaced also in 2018. At least two of the tenants have been in occupancy for over 20 years and are paying below market rents. These two units will need to be upgraded and remodeled but offer a value-add opportunity by bringing these ultimately up to market rents.
Location
State CA
County Marin
Area Novato
Interior
Heating Wall Furnace
Cooling None
Exterior
Parking Features Off Street
Garage Spaces 5.0
Roof Type Flat,Shingle,Tar/Gravel
Building
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
Architectural Style Contemporary
Others
Special Listing Condition None
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