3 Beds • 2 Baths • 1,066 SF • 10,050 SF Lot • Rental Income • Views • $958,000 SOLD
Charming and quaint cottage-style, 2-unit located nearby delightful Deer Park and enchanting downtown Fairfax. This property represents an opportunity for the first time home buyer or investor seeking a rental income revenue stream. The gross cap rate is 6.5% and the current unit above the garage leases for $1800 per month which would offset the new owner’s mortgage. The upper unit features 2 bedrooms and 1 bath with expansion possibilities. This larger unit has tremendous potential and awaits a new owner’s reimagination. A lovely sun-filled back porch would be an ideal setting to revel in the verdant surroundings. The second unit that sits above the garage was recently updated in 2018 and is currently leased at $1800 per month. The updates include fresh white walls, attractive lighting, and a new vanity and walk-in shower in the bathroom. The kitchen offers crisp white cabinetry, granite counter and updated appliances. In addition, this unit has exclusive use of the garage. Both units have in-unit washer/dryers. The verdant and lush backyard could be elevated to showcase the existing wonderful stone and brick hardscape and provides a serene setting to relax and enjoy the consistently comfortable Fairfax weather. Close proximity to Mt. Tam trails and downtown Fairfax are an added bonus of living in this lovely location along with Ross Valley's excellent school district. Do not miss this chance to own in Marin!
Expansion potential
Upper level vacant
Lower level leased at $1,800 per month
Washer/Dryer in both units
Close proximity to Mt. Tam trails and downtown Fairfax
Deer Park neighborhood
Ross Valley School District