$4,395,000

729 Cherry St Novato, CA 94945

Northeast Novato Neighborhood

Estimated payment $28,925/month

Total Views 3,425
17 Beds
-- Bath
10,368 Sq Ft
$424 Price per Sq Ft

Highlights

  • 0.53 Acre Lot
  • Corner Lot
  • Baseboard Heating
  • San Marin High School Rated A-
  • Landscaped
  • Laundry Facilities

About This Home

Excellent investment opportunity to acquire a well-maintained 15-unit apartment complex located on a corner lot in Novato, CA. Highlighted by a unit mix of thirteen (13) 1-bedroom, 1-bath townhouse-style units and two (2) 2-bedroom, 1-bath townhouse-style units, the subject property consists of three buildings located on over a half-acre parcel in the coveted Marin County rental market. All units have updated interiors including flooring, paint, appliances and fixtures. A stucco skim coat and exterior paint was completed in 2021 and the water heaters were replaced in 2022. There are dual-pane windows throughout and each building has a pitched composite shingle roof. The apartment complex features separate storage units for each apartment, an on-site laundry room, abundant carport parking and separate meters for gas and electric. The property is located minutes away from Downtown Novato, which includes Whole Foods Market, Trader Joe's, Rustic Bakery, Starbucks, and many other shops, restaurants and entertainment activities. Located just 25 miles north of San Francisco and less than 20 miles from the town of Sonoma, this apartment complex is surrounded by everything Northern California has to offer.

Listing Agent

Steven Level

Berkshire Hathaway License #01184232

Berkshire Hathaway

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1966

Lot Details

  • 0.53 Acre Lot
  • Landscaped
  • Corner Lot
  • Irregular Lot

Home Design

  • Garden Apartment
  • Concrete Foundation
  • Slab Foundation
  • Shingle Roof
  • Composition Roof

Interior Spaces

  • 10,368 Sq Ft Home
  • 2-Story Property
  • Leased Washer and Dryer

Parking

  • 6 Open Parking Spaces
  • 22 Parking Spaces
  • 16 Carport Spaces
  • On-Street Parking
  • Off-Street Parking

Utilities

  • No Cooling
  • Baseboard Heating
  • Individual Gas Meter

Listing and Financial Details

  • Assessor Parcel Number 143-072-41

Community Details

Overview

  • 3 Buildings
  • 15 Units

Additional Features

  • Laundry Facilities
  • Gross Income $357,199

Property Details

Home Type

Multi-Family

Year Built

Built in 1966

Lot Details

0

Listing Details

  • Type: Residential Income
  • Property Sub Type: 5 or More Units
  • Subtype Description: Apartments, Garden Apartments
  • Directions To Property: 729-733 Cherry St, Novato, CA
  • Lot Size Acres: 0.5280
  • CapRate: 5.26
  • Levels: Two
  • Actual or Scheduled: Actual
  • Special Features: None

Interior Features

  • Flooring: Varies By Unit
  • Square Footage: 10368.00
  • NumberOfBuildings: 3

Exterior Features

  • Foundation: Concrete, Slab
  • Lot Features: Corner, Landscape Front, Shape Irregular, Sidewalk
  • Roof: Composition, Shingle

Garage/Parking

  • Parking Features: Carport, Off Street, Street, Uncovered
  • Total Parking Spaces: 22.00
  • Carport Spaces: 16.00
  • OpenParkingSpaces: 6.00

Utilities

  • Cooling: None
  • Sewer: Public Sewer
  • Water Source: Public
  • Heating: Baseboard
  • Laundry Features: Coin Operated, In Common Area, Washer/Dryer Leased
  • Separate Meters: Electricity, Gas

Lot Info

  • Assessor Parcel Number: 143-072-41
  • Lot Size Sq Ft: 23000.00

Building Info

  • Year Built: 1966

Multi Family

  • 1 Bedroom Rent Range: 1700-1950
  • Two Bedroom Rent Range: 2185-2200
  • Number Of1 Bedrooms Occupied: 11
  • Number of 1 Bedroom Units: 13
  • Number Of2 Bedrooms Occupied: 2
  • Number of 2 Bedroom Units: 2
  • NumberOfUnitsTotal: 15

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/21/2025 03/21/25 For Sale $4,395,000 -- $424 / Sq Ft
Source: Bay Area Real Estate Information Services (BAREIS)

Source: Bay Area Real Estate Information Services (BAREIS)

MLS Number: 325023445

Bay Area Real Estate Information Services (BAREIS)

California Marin County Novato 94945 Northeast Novato

729 Cherry St, Novato, CA

Homes for Sale in Novato, CA

This home is located at 729 Cherry St, Novato, CA 94945 and is currently priced at $4,395,000, approximately $423 per square foot. This property was built in 1966. 729 Cherry St is a home located in Marin County with nearby schools including Olive Elementary School, Sinaloa Middle School, and San Marin High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Bay Area Real Estate Information Services (BAREIS) Listing information deemed reliable but not guaranteed. Copyright 2025 Bay Area Real Estate Information Services, Inc. All Right Reserved.

Steven Level
Listing Agent
Steven Level
Section Image
Berkshire Hathaway
(628) 216-7797