1304 Leafwood Drive

Description

Fantastic investment opportunity to own a 12-unit apartment building with rental upside in coveted Marin County. Highlighted by a unit mix of eight (8) 2-bedroom, 1-bath units and four (4) 1-bedroom, 1-bath units, the subject property consists of two buildings located on three separate parcels in central Novato, CA. The property has undergone substantial renovations in the last few years including new roofs, new exterior stairways and decks, updated hardscape throughout including a newly paved courtyard, dual-pane windows in all units, new exterior paint and drought resistant landscaping. Two of the units have full interior remodels and four additional units have new flooring. The apartment complex features an on-site laundry room, carport parking and separate meters for gas and electric. The apartment complex benefits from historically high occupancy with almost no turnover and the entire property has been consistently maintained under the current ownership. In this extremely low inventory market, the subject property provides an excellent opportunity for the new or experienced investor to acquire a premium multi-family asset in a high demand location. Marin County is one of the most difficult communities for new multi-family construction in Northern California.