17 Clay CT Active Save Request In-Person Tour Request Virtual Tour
Novato,CA 94949
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 4,308 sqft
Price per Sqft $437
Subdivision Pacheco Villas
MLS Listing ID 325004477
Bedrooms 2223
HOA Y/N No
Year Built 1978
Lot Size 9,121 Sqft
Property Description
17 Clay Court is an upgraded and well maintained fourplex located in the attractive Pacheco Villas apartment community in Novato. The community is surrounded by the Pacheco Valle Preserve, a beautiful, undeveloped 519-acre refuge. 17 Clay Court is one of sixteen small apartment buildings in the community and has (3) 2-bedroom, 1.25-bath, and (1) 3-bedroom, 2-bath apartments. Each of these large apartments has its own laundry room, fireplace, and water heater. The roof was new in 2023. There is a resort-like swimming pool for the tenants to enjoy, plenty of parking, including dedicated carports, and the lush grounds create a park-like setting. It is fully occupied and one of the best value apartment investments in Marin with an 11.8 gross rent multiple, and 5.44% Cap Rate. With the potential to reach over a 6% cap rate at demonstrated market rents, this investment opportunity provides immediate cashflow with upside - a rare find in Marin County.
Location
State CA
County Marin
Area Novato
Interior
Heating Central,Gas
Cooling Ceiling Fan(s)
Exterior
Parking Features Carport,Guest Parking Available
Garage Spaces 4.0
Building
Sewer Public Sewer
Water Public
Others
Special Listing Condition None