11 Commodore Marina Loop, OUT OF AREA, CA 94941, OUT OF AREA, 94941 - bed, bath
11 Commodore Marina Loop
OUT OF AREA, CA 94941
Property Price
SUMMARY
Analysis of 11 Commodore Marina Loop, OUT OF AREA, CA 94941 is currently available with a list price of $1,747,000. The property maintains a Excellent Condition Rating (95/100), indicating excellent structural integrity and modern finishes throughout. This turnkey property requires minimal updates and is ready for immediate occupancy. Located in a high-demand neighborhood within the OUT OF AREA Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
Property is new construction or fully renovated.
This 1967 houseboat has been completely and extensively remodeled within the last few years, specifically optimized for short-term rentals since 2022. The units feature modern, high-end upgrades including full kitchens with integrated stacking washer/dryers, bathrooms with heated floors, and climate-controlled storage. The property shows no signs of deferred maintenance and meets current quality standards for a luxury rental asset.
PROSSTRENGTHS & OPPORTUNITIES
- Exceptional Investment Returns
With a 14.6% Cap Rate and a Gross Rent Multiplier of 4.21, this property offers significantly higher yields than typical Bay Area residential income assets.
- Proven Short-Term Rental Success
The property is already marina-approved for short-term rentals and maintains a consistent occupancy rate over 80%, generating over $415,000 in gross annual income.
- High-End Remodeled Units
Each of the four units features modern upgrades including heated bathroom floors, full kitchens, and private decks, ensuring a premium guest experience.
CONSRISKS & DEFICIENCIES
- Specialized Financing Requirements
As a houseboat, this asset class typically does not qualify for conventional residential financing, likely requiring specialized marine lenders or cash buyers.
- Marine Maintenance Costs
The 1967 barge structure requires ongoing, specialized maintenance to mitigate the effects of the saltwater environment and ensure long-term hull integrity.
- Compact Unit Footprints
With four units distributed across 1,387 square feet, the individual living spaces are quite small, which may limit appeal for longer-term stays or larger groups.
About 11 Commodore Marina Loop
This completely remodeled 4-Unit Houseboat has been approved by the Commodore Marina as a short-term rental since September of 2022. All units have consistently maintained occupancy rates over 80%. Gross rental income in 2024 was $415,030, making the GRM just 4.21 years at the bidding start price, The NOI was $255,281, making the Cap Rate 14.6%. Each unit features a raised platform bed to overlook open water views, a full kitchen including a stacking washer/dryer, a full bath with heated floors and a private outside deck area. There is also over 1000 sq. ft. of climate-controlled storage in the barge below decks with a commercial washer/dryer to allow for quick rental change overs
Property Details
Public Facts
- Property Type
- Residential Income
- Year Built
- 1967
- Lot Size
- -
Interior
- Total Bedrooms
- -
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | 2.0 | 50% |
| Baths | - | 2.0 | 50% |
| Square foot | 1,387 | 2,119.5 | 50% |
| Lot Size | - | 5,192.5 | 50% |
| Price | $1.75M | $1.50M | 50% |
| Price per sq ft | $1.3K | $849 | 50% |
| Built year | 1967 | 1963 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 372 | 206 | 0% |
Pricing History
Listed for Sale
Feb 28, 2025
$1,747,000
Initial Listing