10 Shelley Drive

Mill Valley, CA 94941 Mill Valley

For Sale $8,249,000

11,634sqft
0.51acre

Listing provided courtesy of:

Erich M Reichenbach

License #01860626

Marcus & Millichap

The property is a deluxe rental community located in Mill Valley, an exclusive Bay Area enclave known for its affluence, excellent commutability, and breathtaking views of the Marin hills. This community comprises two adjacent three-story buildings on separate parcels, providing a total of 14 upscale residential units. The unit mix includes twelve spacious two-bedroom, one-bath apartments and two one-bedroom, one-bath apartments. In 2018, the properties underwent significant upgrades, including exterior painting, new roofs, and balconies, along with the installation of double-pane windows and sliders. The buildings have also been seismically retrofitted in anticipation of the Mill Valley soft-story ordinance, providing added safety and peace for a new owner. Mill Valley is a competitive rental market, often preferred by highly paid San Francisco employees who can work remotely and appreciate the area's high quality of life. The lack of significant new housing stock in southern Marin County further ensures that rents and property values will continue to appreciate. This presents a rare opportunity to acquire a turnkey property with strong, long-term cash flow and minimal maintenance in one of Northern California's most desirable sub-markets.

MLS Status: Active

On Market Date: 2024-07-11

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10 Shelley Drive is a Residential Income 5 Or More Units property located in Mill Valley, California (Marin County), featuring a 0.510 acre lot, 11,634 sqft, MLS #324054644.

Based on information from one of the following Multiple Listing Services: BAREIS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Bay Area Real Estate Information Services, Inc. and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. All data, including all measurements and calculations of area, is obtained from various sources, is approximate, and has not been, and will not be, verified by broker or MLS. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. All information should be independently reviewed and verified for accuracy. No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of such measurements.

Data last modified: 2024-08-01 17:15:41