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Listed by Michael J Burke • Golden Gate Sotheby's International Realty • Golden Gate Sotheby's International Realty
Golden Gate Sotheby's International Realty
Golden Gate Sotheby's International Realty
$ 10,500,000
Est. payment /mo
New
1118 Sir Francis Drake BLVD Kentfield, CA 94904
22,572 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 22,572 sqft
Price per Sqft $465
MLS Listing ID 326045828
Construction Status Original,Updated/Remodeled
HOA Y/N No
Year Built 1955
Lot Size 0.642 Acres
Property Sub-Type 5 or More Units
Property Description
Ideally located in the heart of affluent central Marin, this well-positioned property sits directly across from Kentfield Hospital and just two blocks west of the College of Marin. The highly desirable Kentfield location offers residents convenient access to major employers, retail, dining, and transportation corridors. Originally constructed in 1955, The Ross Apartments have been meticulously maintained by long-term ownership. While select improvements have been completed over the years, the property presents a strong value-add opportunity for future modernization and interior upgrades. The unit mix consists of four 2-bedroom apartments, twenty-six 1-bedroom apartments, and one spacious studio unit. Parking accommodations include garages with tandem spaces, covered carports, and additional open parking - one space per apartment Residents enjoy mature, low-maintenance landscaping centered around an attractive interior courtyard setting. Most units feature shared outdoor decks adjoining the living areas, and all apartments include hardwood flooring. The Ross Apartments present a compelling investment opportunity in a high-demand market supported by stable tenancy and meaningful rental upside potential. The property consists of a four-story wood-frame building with a stucco exterior on a concrete perimeter foundation. Originally constructed in 1955, much of the asset remains in its classic condition, offering investors the flexibility to maintain current operations or unlock additional value through a comprehensive renovation strategy. Parking amenities include a mix of garages, carports and open space with one assigned to each unit. Residents also benefit from an on-site laundry facility and dedicated storage lockers. Capital improvements are already underway. The roof consists of five sections, three of which have been recently replaced, with the remaining two scheduled for replacement. All electrical subpanels have been upgraded, and bedroom windows have been modernized with dual-pane glass, while living room windows remain in their original configuration. The property has historically operated with a central boiler heating system with heat paid for by ownership. A transition is currently in progress to individual electric heating units in each apartment, billed directly to tenants through their PG&E accounts, creating greater operational efficiency and reduced owner expense.
Location
State CA
County Marin
Area Kentfield
Interior
Heating Central, Individual, Varies by Unit
Cooling None
Flooring Wood
Exterior
Parking Features Carport, Garage, Off Street, Uncovered, Varies by Unit
Garage Spaces 31.0
Roof Type Bitumen
Building
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
Architectural Style Contemporary
Construction Status Original,Updated/Remodeled
Others
Special Listing Condition None
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