361 Du Bois Street

It is located in the Bret Harte area of San Rafael, close to shopping and easy freeway access. 2-2BR and 4-1BR apartments on a large 10,500 sf level lot. The lot affords ample space to develop additional apartments. Current ADU guidelines suggest as many as six (Buyer to Confirm).

There are 11 carports and ample additional off-street parking. Some of the carports are rented to the apartment complex across the street.

Overall, the building is in good condition and seems to be well maintained. The owner has replaced the two main roof sections in 2018 and 2020. Four of the units have been remodeled and upgraded. All units have hardwood floors. Two are still carpeted over and need refinishing. There is a large owner’s storage room and an on-site laundry room with owned equipment. Heating is provided by gas fired wall furnaces. Units are separately metered for PG&E. The Owner pays for water and trash.

There is a large upside potential in the rental income.