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:  

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