49 Ignacio LN Novato, CA 94949

Ignacio Lane Apartments is a well located property adjacent to open space and neighborhood retail, offering 10 stylish, loft-like studios, each with private outdoor areas. Well maintained and fully occupied, the property presents an excellent investment opportunity that provides immediate cash flow. The building benefits from recently replaced electrical subpanels, roof, common water heater, and new card operated laundry machines. Select units are updated with vinyl plank flooring, granite countertops, and stainless steel electric appliances. The property is turnkey with demonstrated high rents of $2,000/mo plus a utility reimbursement program to offset water and garbage expenses. 5.01% Cap Rate on current rents, and a 5.63% Cap Rate with all rents at the demonstrated high of $2,000. Ignacio Lane Apartments is a quality investment asset, positioned to provide its new owner with immediate, reliable cash flow and long-term appreciation in a highly constrained, blue-chip Bay Area submarket.