150 Shoreline Hwy

Mill Valley, CA 94941

$4,800,000

List Price

N/A

bed Beds

shower Baths

N/A sqft

straighten / sqft

1971

calendar_month Built

Property Description

3-Buildings 24 or 48-Units 15,148 Square Feet Total First-Time on the Market in 50-Years LOTS of Potential Uses INVESTORS ... good cash-flow and 5% Cap-Rates with the current Tenants INVESTORS #2 ... 10% Cap-Rates by converting back to market-rate housing INVESTORS #3 ... Convert to affordable condos to sell individually or make into live/work spaces ... over $3-million upside potential YMBY (YES in My Backyard) ... Non-Profit Groups - convert to housing for Disabled Veterans, or other vital programs YMBY #2 ... Potential to double the number of units to 48 studio apartments ... upstairs units can be adapted to have separate entrances ... see the Matterport Tour for a sample of an upstairs studio COMPANY HEADQUARTERS ... High-Visibility Location, excellent parking, campus-like setting and immediate access to Highway-101 make this an interesting option. A FEW NUMBERS : $100,000 or $200,000 per unit 24-units (1-bedroom) or 48-units (studio apartments) Possibly build more units 3 buildings - about 5,000 square feet per building The asking price is $318 per square foot, which is way below what it would cost to build in today's market OK to drive around the buildings - but, please DO NOT ENTER BUILDINGS or DISTURB TENANTS

Listing Information

List Price $4,800,000
Status Active
MLS 41042766
HOA $0
Type Residential Income
Year Built 1971
Lot Size 37,501
Structure Size N/A
DOM 300
Courtesy Of Re/Max Accord
Listing Agent Kevin Obrien DRE#01385083

Interior Features

Total Bedroom
Bedrooms N/A
Cooling Type
Cooling Type Wall/Window Unit(s)

Exterior Information

Maps

Listing information courtesy of: Kevin Obrien, Re/Max Accord . *Based on information from the Association of REALTORS/Multiple Listing as of Sep 30th, 2024 at 6:38 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.