150 Shoreline HwyMill Valley, CA 94941

This exceptional 15,148 sq ft multifamily property at 150 Shoreline Hwy, Mill Valley, CA 94941, presents a unique investment opportunity. Comprising three, two-story buildings on a 37,501 sq ft lot, this property offers significant upside potential. Currently configured as 24 one-bedroom units, the property could be easily converted to 48 studio apartments, significantly increasing rental income. Built in 1971, the buildings are situated in a high-visibility location with excellent parking and easy Highway 101 access. The property's CP (Planned Commercial) zoning in unincorporated Marin County allows for various uses, including affordable housing (with minimal permitting), market-rate housing (subject to potential conditions), or conversion into condos. The asking price of $4,800,000 represents a compelling value, significantly below current construction costs. The property's proximity to amenities like Whole Foods and public transportation further enhances its appeal. A vacant lot of similar size is available next door, presenting the possibility of expansion. Floor plans are approximate but adaptable to various configurations. While the current layout features a bedroom and bath upstairs and living areas downstairs, modifications could easily create updated, modern units. This property is ideal for investors seeking high returns, developers looking for a redevelopment project, or non-profit organizations seeking to create affordable housing. Serious inquiries are encouraged. Drive-by viewing is permitted, but entry to buildings and disturbance of tenants is strictly prohibited due to security cameras.