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55 Roque Moraes Court

Mill Valley, CA 94941

– beds
– baths
5,008 sqft
10,001 sqft lot
$579 per sqft
1959 build
– on site

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The Alto Apartments is a rare opportunity to acquire a clean 6-unit investment property in the charming Southern Marin community of Mill Valley just 10 minutes north of the Golden Gate Bridge. Featuring six spacious two bedroom units walking distance to parks, schools, hiking, restaurants, shopping, and downtown Mill Valley, as well as easy access to Highway 101, it would be hard to imagine a better combination of fundamentals and location than this. 5 of 6 apartments have fully updated kitchens and baths. In addition the original charm pervades with large picture windows bringing in natural light and natural wood floors. Property pays for water, sewer and trash and exterior lighting. Importantly, the original electric circuit breaker panels have been replaced in accordance with current insurance underwriting standards and additional plumbing and seismic upgrades have been completed (records with the City of MV). There is a coin laundry room onsite, one assigned tandem carport, and additional storage closet off the carport for each unit. Priced below recent sales comps, the starting cap of 4.00% grows to 5.18% at what are believed to be market rents, making the Alto Apartments a compelling buy for the long term real estate investor.

Listing courtesy of BAREIS / Katherine Raphael / NORCAL COMMERCIAL / Bought with Katherine J Higgins / Berkshire Hathaway

Last checked: Checking… • Last updated Nov 12, 2024 •

MLS# 324048177 —

The Building

Year Built:

1959
Year Built Source:

Assessor Auto-Fill
Construction Materials:

Stucco
Architectural Style:

Mid-Century
Window Features:

Dual Pane Full
Subtype Description:

Apartments
Roof:

Flat, Tar/Gravel
# of Buildings:

1
Foundation:

Combination, Concrete Perimeter, Slab
# of Units Total:

6
SqFt:

5,008 Sqft
SqFt Source:

Assessor Auto-Fill

Interior

Flooring:

Stone, Wood

Financial & Terms

Terms:

Conventional

Location

Directions:

Type in GPS
Area:

Mill Valley
Cross Street:

E Blithedale

The Property

Property Type:

Residential Income
Property Type:

5 or More Units
Lot Features:

Court, Landscape Back, Landscape Front
10001

Lot SqFt:
Lot Size Measurement:

Acres
Lot Size Source:

Assessor Auto-Fill
View Description:

Mt Tamalpais, Park, Varies by Unit
0.2296

Acres:

Listing Agent

Contact info:

Taxes

Assessors Parcel Number:

030-201-15

The Listing

Special Listing Conditions:

Offer As Is

Heating & Cooling

Heating:

Central, Gas
Cooling:

None

Utilities

Utilities:

City
Water Source:

Public
Sewer:

Public Sewer
Separate Meters:

Electricity, Gas

Appliances

Appliances:

Dishwasher, Free Standing Electric Range, Gas Water Heater
Laundry Features:

Coin Operated, In Common Area

The Community

Association:

No
Cap Rate:

4.00

Parking

Carport Spaces:

6.00
Total Parking Spaces:

12.00
Parking Features:

Carport, Other

Extra Units

# of 2 Bedroom Units:

6
Unit 1 Description:

see OM for details
Unit 1 Bedrooms:

2
Unit 1 # of Rooms:

4
Unit 1 Full Baths:

1
Unit 1 Approx SqFt:

826
Unit 2 Full Baths:

1
Unit 2 Description:

see OM for details
Unit 2 Bedrooms:

2
Unit 2 # of Rooms:

4
Unit 2 Approx SqFt:

826

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
8/27/24 Aug 27, 2024	Sold	BAREIS	$2,900,000	-9.4%
6/19/24 Jun 19, 2024	Listed / Active	BAREIS	$3,200,000

Multifamily Sold on 8/27/2024

$2,900,000

Listing provided by broker:

Katherine Raphael

NORCAL COMMERCIAL

Newest listings in Mill Valley, CA

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Listing courtesy of BAREIS, NORCAL COMMERCIAL, and Katherine Raphael. Bought with Berkshire Hathaway and Katherine J Higgins.

55 Roque Moraes Court

Mill Valley, CA 94941