699 Logan Street - 6 Units

6 units - Novato

$1,900,000

6-2BR/1BA apartments with great floorplans. Compact, yet offering enough room for a separate dining area. Kitchens feature an all-electric design with dishwashers. All apartments have a private balcony.

Built in 1976, the property appears to be in good overall condition. The building is all-electric, except for a gas meter for the house water heater. Heating is radiant electric in the ceilings with separate area thermostats. Units are separately metered for electricity and the tenants pay their own.

There is an on-site laundry room with brand-new owned equipment. Each apartment has an extra storage room in the carport area.

Upside potential in rents from long-term Tenants. Now priced at 14.8 times the current low income or 11.9 times conservative market income. 

Inspection reports are now available. The seller is in the process of replacing the three remaining cantilevered decks at a cost of $70,000.

MLS# 322068360