College Student Housing Investment Opportunity! San Rafael, CA !Cash Flow!!!!

[Detra Harris]

Just Listed!

1200 Grand Avenue, San Rafael, CA 94901 -- Offered at $2,295,000

This beautiful historical property was built in 1926 by well known architect William Yelland. The property was originally built for San Rafael City Building Inspector, W. Schlosser, who lived in the main house for several years. 1200 Grand Avenue has become a great monument for Dominican University student living for the past 10 years. The property offers approximately 5,027 square feet of living area between two on site properties. The total lot size is 9,380 square feet.

Assembled into two properties on one lot, the main house has 8 bedrooms, 4 bathrooms and accommodates 12 students. The rear cottage has 2 bedrooms, 1 bath, accommodates 2 students and 1 onsite property manager. There is sufficient space to add up to 3 additional students, a total of 18 students. 1200 Grand Avenue offers accommodations for students year round.

Financial Summary

Analysis Type:  Proforma

Scheduled Gross Income: $314,664

Effective Gross Income: $305,224

Operating Expenses: $124,132

Net Operating Income: $181,092

Pre-Tax Cash Flow: $76,440

Cap Rate: 7.9%

Please ask for a copy of our Exclusive Property Offering w/Photos!

[email protected]

CalBRE#01966555