Sold
Closed
55 Roque Moraes Ct
Mill Valley CA, 94941
$2,900,000
$579.07 per sqft
Sold
Closed
2 Baths
5,008 sqft
Residential
Built in 1959
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.
324048177
MLSⓇ ID
June 19, 2024
Listed
August 29, 2024
Updated
Map
55 Roque Moraes Ct
Mill Valley CA, 94941
Interior Features
Total Stories
0
Total Bathrooms
2
Full Bathrooms
2
Appliances
Dishwasher, Free Standing Electric Range, Gas Water Heater
Laundry Description
Coin Operated, In Common Area
Floor Description
Stone, Wood
Fireplace
No
Cooling
No
Cooling Description
None
Heating
Yes
Heating Description
Central, Gas
Exterior/Building Features
Lot Size
0.23 Acres
Exterior Features
Court, Landscape Back, Landscape Front
Lot Features
Court, Landscape Back, Landscape Front
Architectual Style
Mid-Century
Roof
Flat, Tar/Gravel
Sewer
Public Sewer
Other Property Details
Area Name
Mill Valley
Garage
No
Parking
Carport, Other
Parking Total
12
View
Yes
View Description
Mt Tamalpais, Park, Varies by Unit
County
Marin
Water Source
Public
Pool
No
Listing History
Date | Event | Price |
---|---|---|
8/29/2024 | Sold | $2,900,000 |
7/3/2024 | Pending | — |
Bought with Katherine J Higgins with Berkshire Hathaway and Listed by Katherine Y Raphael with NORCAL COMMERCIAL
Listing Contact:
All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Scott Woods | CA DRE# 01863705 shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 Bay Area Real Estate Information Services, Inc. all rights reserved.