75-77 Woodland AvenueSan Rafael, CA 94901Sale Price: $3,400,000

Woodland Apartments presents a compelling opportunity to acquire a stabilized multifamily asset with substantial rental upside. The property is conveniently located less than 1 mile from downtown San Rafael and immediately proximate to neighborhood retail and employment opportunities. The property is comprised of two 8-unit residential buildings, on two adjoining parcels, that mirror one another across a central driveway and parking area. The combined unit mix incudes (8) studio apartments, (4) 1-bed/1-bath apartments, and (4) 2-bed/1-bath apartments. The buildings benefit from recent upgrades - nine of the units have been updated since 2018 with select units being improved with new paint, flooring, cabinetry, countertops, lighting, dual-pane windows, and stainless steel appliances. Seven of the current tenants have resided at the property for five or more years, a testament to the desirability of the property and its location. Woodland Apartments is a bread and butter investment asset, positioned to provide its new owner with immediate, reliable cash flow and long term appreciation in a highly constrained, blue-chip Bay Area submarket.