$3,200,000 Price Analysis    ♡   Mill Valley, CA 94941 12 bed None bath 5,008 SqFt ($638/SqFt) 0.23 acre lot. Built 1959 Listed 2024-06-19, Taxes $68,456 | Ⓧ USDA Ineligible due to price & location near TamalpaisHomestead Valley |
The Alto Apartments is a rare opportunity to acquire a clean 6-unit investment property in the charming Southern Marin community of Mill Valley 10 minutes north of the Golden Gate Bridge.
* Sale Pending *Featuring six pen 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 pic ture 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.
Presented by Katherine Y Raphael at
Norcal Commercial.
Property MLS #324048177 from Bareis
Free Standing Electric Range
Gas Water Heater
Laundry Features: Coin Operated, In Common Area
Window Features: Dual Pane Full
Parking Features: Carport
Parking Total: 12
Lot Size Acres: 0.2296
Lot Size Square Feet: 10001
Calculated Total Monthly Association Fees: 0
Number of Units: 6
Number of 2 Bedroom Units: 6
Full Bathrooms in the 1 Bedroom Units: 1
Full Bathrooms in the 2 Bedroom Units: 1
Unit-1 Description: see OM for details
County: Marin
Cross Street: E Blithedale
Directions: Type in GPS
Disclaimer: All data, photos, visualizations, and information regarding a property, including the property's compliance with state and local legal requirements and all measurements and calculations of area, have been obtained from various sources, and may include such material that has been generated by use of artificial intelligence. Such information and material have not been and will not be verified for accuracy by the listing broker or the multiple listing service, and are not guaranteed as complete, ac
Source Property Type: Residential Income
Area: Mill Valley
Source Neighborhood: Mill Valley
Postal Code Plus 4: 2245
Property Subtype: 5 or More Units
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $2,785,120 + $2,573,256 $5,360,776 | $68,456 |
| 2021 | $2,730,519 + $2,522,808 $5,255,727 | $66,935 |
| 2020 | $2,702,543 + $2,496,960 $5,201,903 | $66,656 |
| 2019 | $2,649,552 + $2,448,000 $5,099,952 | $64,025 |
| 2018 | $968,510 + $1,320,325 $2,291,235 | $33,634 |
| 2017 | $949,520 + $1,294,437 $2,246,357 | $32,687 |
| 2016 | $930,907 + $1,269,062 $2,202,369 | $31,892 |
| 2015 | $872,600 + $1,250,000 $2,125,000 | $29,070 |
| 2014 | $192,141 + $74,499 $269,040 | $7,657 |
| 2013 | $191,274 + $74,163 $267,837 | $8,294 |
| 2012 | $187,524 + $72,709 $260,233 | $6,857 |
| 2010 | $183,848 + $71,284 $257,532 | $6,705 |
| 2009 | $182,909 + $70,919 $256,228 | $6,614 |
| 2009 | $182,475 + $70,751 $255,626 | $6,614 |
| 2008 | $179,323 + $69,529 $251,252 | $6,299 |
| 2006 | $175,807 + $68,166 $246,373 | $6,200 |
$3,200,000
Bareis
Sold 2018-05-14
$5,000,000
Public Record
Listing removed 2017-07-10
$3,595,000
Bareis
Listed 2017-05-30
$3,595,000
Bareis
Listing removed 2016-11-23
$3,400,000
Bareis
Listed 2016-09-26
$3,400,000
Bareis
Sold 2014-09-26
$2,125,000
Bareis
Relisted 2014-07-30
$2,222,000
Bareis
Listing removed 2014-07-04
$2,222,000
Bareis
Price Changed 2014-06-20
$2,222,000
Bareis
Listed 2014-04-10
$2,395,000
Bareis
Year Built: 1959
Construction Materials: Stucco
Foundation Details: Combination, Concrete Perimeter, Slab
Property Age: 65
Roof: Flat, Tar/Gravel
Structure Type: Apartments
Architectural Style: Mid-Century
City
Water Source: Public
Map directions Map directions Map directions Map directions
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.