The Alto Apartments is a rare opportunity to acquire a clean 6-unit investment property in the charming Southern Marin community of Mill Valley just 10 minutes north of the Golden Gate Bridge. Featuring six spacious 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 picture 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.
Closed
Zillow last checked:
Listing updated:
Bought with:
Katherine J Higgins, DRE #00942916
Berkshire Hathaway
Source: BAREIS,MLS#: 324048177
Originating MLS: Marin County
Originating MLS: Marin CountyPrice history
| Date | Event | Price |
|---|---|---|
| 8/27/2024 | Sold | $2,900,000-9.4%$579/sqft |
Source:  BAREIS #324048177 Report a problem | ||
| 7/3/2024 | Pending sale | $3,200,000$639/sqft |
Source: BAREIS #324048177 Report a problem | ||
| 6/19/2024 | Listed for sale | $3,200,000-36%$639/sqft |
Source: BAREIS #324048177 Report a problem | ||
| 1/9/2024 | Listing removed | -- |
Source: Zillow Rentals Report a problem | ||
| 11/10/2023 | Listed for rent | $3,050+3.4%$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 5/14/2018 | Sold | $5,000,000+39.1%$998/sqft |
Source: Public Record Report a problem | ||
| 7/10/2017 | Listing removed | $3,595,000$718/sqft |
Source: Marcus & Millichap #21712239 Report a problem | ||
| 6/16/2017 | Pending sale | $3,595,000$718/sqft |
Source: Marcus & Millichap #21712239 Report a problem | ||
| 5/30/2017 | Listed for sale | $3,595,000+5.7%$718/sqft |
Source: Marcus & Millichap #21712239 Report a problem | ||
| 11/23/2016 | Listing removed | $3,400,000$679/sqft |
Source: Marcus & Millichap #21622789 Report a problem | ||
| 9/26/2016 | Listed for sale | $3,400,000+60%$679/sqft |
Source: Marcus & Millichap #21622789 Report a problem | ||
| 3/8/2016 | Listing removed | $2,950$1/sqft |
Source: Paseo Properties Report a problem | ||
| 2/26/2016 | Listed for rent | $2,950$1/sqft |
Source: Paseo Properties Report a problem | ||
| 9/26/2014 | Sold | $2,125,000-4.4%$424/sqft |
Source: Public Record Report a problem | ||
| 6/20/2014 | Price change | $2,222,000-7.2%$444/sqft |
Source: Meridian Commercial #21413414 Report a problem | ||
| 6/10/2014 | Listed for sale | $2,395,000$478/sqft |
Source: Meridian Commercial #21413414 Report a problem | ||
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Estimated market value
$4,126,900
