55 Roque Moraes Court Mill Valley, CA 94941

The Alto Apartments is a rare opportunity to acquire a clean 6-unit investment property in the charming Southern Marin community of Mill Valley just 10 minutes north of the Golden Gate Bridge. Featuring six spacious two bedroom units walking distance to parks, schools, hiking, restaurants, shopping,... and downtown Mill Valley, as well as easy access to Highway 101, it would be hard to imagine a better combination of fundamentals and location than this. 5 of 6 apartments have fully updated kitchens and baths. In addition the original charm pervades with large picture windows bringing in natural light and natural wood floors. Property pays for water, sewer and trash and exterior lighting. Importantly, the original electric circuit breaker panels have been replaced in accordance with current insurance underwriting standards and additional plumbing and seismic upgrades have been completed (records with the City of MV). There is a coin laundry room onsite, one assigned tandem carport, and additional storage closet off the carport for each unit. Priced below recent sales comps, the starting cap of 4.02% grows to 5.8% at what are believed to be market rents, making the Alto Apartments a compelling buy for the long term real estate investor. Continue reading