1126 Marin AveAlbany, CA 94706

Property Details for 1126 Marin Ave

Year built

1975

Construction

WOOD

Lot size

0.14 AC

Property size (Sq ft)

6,804 SF

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

65-2659-3-1

APU

65265931

Description

This exceptional 8-unit apartment building at 1126 Marin Avenue in Albany, CA, presents a compelling investment opportunity. Boasting 6,804 square feet on a 6,000 square foot lot, this 1975-built property offers a strong current NOI of $132,329 and a pro-forma NOI of $150,948, translating to a 3.80% cap rate and a pro-forma cap rate of 4.30%. The asking price is $3,500,000, or $437,500 per unit. Each of the eight units features two bedrooms and 1.5 bathrooms, and includes underground gated parking with a dedicated space and EV charging station for every unit. Many units have undergone extensive renovations, showcasing updated kitchens and bathrooms. Building amenities include a coin-operated laundry, a secure built-in package locker, and upgraded LED exterior and garage lighting. The property benefits from a highly desirable location, just one block from Solano Avenue's vibrant commercial district, and within easy reach of Whole Foods, Sprouts, and Trader Joe's. Excellent transit options include nearby BART stations and AC Transit bus stops. Albany's top-rated schools and lack of local rent control further enhance the investment appeal. Recent exterior and balcony work has been completed, and the property is separately metered for electricity. With a 97 Walk Score and 98 Bike Score, this meticulously maintained property offers a turnkey investment opportunity in a highly sought-after location. The property is exempt from local soft-story retrofit requirements.

• CAP approach

  CAP return

  Valuation

  6%

  $2,314,680

  6.5%

  $2,136,628

  7%

  $1,984,011

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,935,189

  Geo Method

  $2,941,441

• Alternative Use

  Use

  Valuation

  Residential

  $2,136,628

  Hospitality

  $1,957,140

  Educational

  $1,628,317

  Medical

  $1,684,317

  Retail

  $2,532,938

Location Insight

City

Albany

County

Alameda

State

California

Latitude

37.8867

Longitude

-122.296

CBSA code

41860

CBSA name

SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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