4-UNIT APARTMENT BUILDING
197 SAN ANDREAS DR • $1,775,000
Pride of ownership 4-plex in the San Marin area of Novato, just off of San Marin Drive. Close to shopping.
This property represents one of the nicest fourplexes I have seen come on the market. All four apartments are very large 1250+sf 2BR/2BA floor plans, featuring individual garages, washer dryer hookups and a large private deck off the living area. All four apartments are side by side on one level – no one above or below you. The living room brick fireplace has a gas starter and is surrounded by built-in bookcases. Bedrooms are over-sized with huge closets.
All apartments are individually metered for and tenants pay their own gas and electricity. Tenants also pay for refuse. Owners pay for water and minimal house PG&E. Heating is provided by thermostatically controlled electric baseboard heating. Each apartment has its own individual hot water heater.
The property appears to be in very good condition, lovingly maintained by a long-term owner. The Sewer lateral was replaced recently. This is a very attractive, low maintenance, low management design with minimal landscaping.
The property was built according to the assessor in 1974. It is of wood frame construction with a slab foundation and composition shingle roof.
Rents are below market due to the long-term occupancy of some tenants. There is significant upside in the rental income.