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Ramos & Ramos Real Estate Team

team@ramostherealtor.com +1(707) 671-6761

Listed by David O'Brien Compass

$ 1,350,000

Est. payment -/mo

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86A, 86B 84 Merrydale RD San Rafael, CA 94903

1,918 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Triplex

Listing Status Active

Purchase Type For Sale

Square Footage 1,918 sqft

Price per Sqft $703

MLS Listing ID 326070549

Style Ranch

HOA Y/N No

Year Built 1925

Lot Size 0.340 Acres

Acres 0.3401

Property Sub-Type Triplex

Property Description

Exceptional Income-Producing Triplex with Significant Multifamily Development Potential Rare opportunity to acquire an income-producing asset with substantial upside on a 14,000+ square-foot lot offering outstanding multifamily development potential and convenient freeway access. This property presents an exceptional combination of immediate cash flow and long-term value creation. The current owner has completed several important pre-development milestones, including a architects feasibilty study, soils report, boundary survey, and professionally designed architectural site plans featuring two alternative structural concepts for an eight-unit residential development, allowing a future owner to accelerate the development process. The existing property consists of three residential units: Detached two-bedroom, one-bath home, with a basement. Two attached one-bedroom, one-bath units, one of which includes a valuable additional room. Current gross rental income is $6,772.50 per month, with a recent appraisal indicating an estimated market rent of $7,535 per month. The property's unique ability to generate stable rental income during the planning, entitlement, and development process distinguishes it from vacant development sites. Beyond its investment appeal, the property has successfully served as a multigenerational family compound and offers flexibility for buyers seeking extended-family living, value-add income opportunities, or phased redevelopment. Properties offering this combination of current income, development readiness, and long-term appreciation potential are difficult to find. An exceptional opportunity for investors, developers, and 1031 exchange buyers seeking both immediate returns and future growth.

Location

State CA

County Marin

Area San Rafael

Rooms

Basement Partial

Interior

Heating Central, Wall Furnace

Cooling None

Flooring Carpet, Tile, Wood

Laundry Laundry Closet

Exterior

Carport Spaces 2

Utilities Available Electricity Connected, Natural Gas Connected

Waterfront Description Water District

Roof Type Composition

Total Parking Spaces 7

Private Pool No

Building

Lot Description Corner Lot

Foundation Concrete Perimeter, Slab

Sewer Public Sewer

Water Water District

Architectural Style Ranch

Schools

School District Marin, Elementary: San Rafael City Schools, Middle/Junior: San Rafael City Schools, High: San Rafael City Schools

Others

Tax ID 17914301

Special Listing Condition Offer As Is

Bay Area Real Estate Info Services (BAREIS)

Ramos & Ramos Real Estate Team

Broker Associate | REALTOR | License ID: 01704266 | 02115567

+1(707) 671-6761

Ramos & Ramos Real Estate Team

86A, 86B 84 Merrydale RD San Rafael, CA 94903

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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86A, 86B 84 Merrydale RD