Sold
509 Canal St
San Rafael CA, 94901
$5,522,875
$260.07 per sqft
Sold
21,236 sqft
Multi-family
Built in 1961
The Harbor View Apartments is a 28-unit complex in the Canal area of San Rafael offering significant upside for the long term buyer. There are 3-3BR apartments and 25-2BR units. Overall, the building is in average condition and in need of remodeling and upgrading. 13 of the units are set aside as low income for a period of time. Garden courtyard 1961 design around a center swimming pool with 28 covered parking spaces. The building has two water heaters, a common laundry room, gas fired wall heaters, and kitchens have a gas stove. Rents are significantly below the market. The property is priced giving consideration to the current low rents, need of work and the deed restriction for below market rents on 13 of the 28 units. There is a $450,000 Re-Development loan which may be assumed and is forgiven over the next 12 years. BMR units may be rented at market to Sec 8 tenants.
22017028
MLSⓇ ID
February 16, 2024
Updated
Map
509 Canal St
San Rafael CA, 94901
Interior Features
Total Stories
0
Laundry Description
Coin Operated, In Common Area
Fireplace
No
Cooling
No
Heating
Yes
Heating Description
Wall Furnace
Exterior/Building Features
Lot Size
0.62 Acres
Roof
Tar/Gravel
Sewer
Public Sewer
Other Property Details
Area Name
San Rafael
Association Amenities
Pool
Garage
No
Parking
Carport
Parking Total
0
View
No
County
Marin
Water Source
Public
Pool
No
Bought with Sean Payne with Sean Silvano Payne and Listed by Michael J Burke with Golden Gate Sotheby's International Realty
Listing Contact:
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