
San Rafael, CA 94901
This Duplex Residential Income Property is a High-Potential Investment Opportunity, listed at $1,174,990—positioned well below the $1,329,252 Fair Market Value by 11%. This valuation gap offers $154,262 in Instant Equity. Featuring Panoramic Bay Views and a Condition Rating of 4, the property provides a stable foundation for value-add updates. With flexible seller financing and a dual-unit layout, this is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking to offset mortgage costs through rental income.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 111 Altena Street Subject | $1,174,990* List Price | 0 | 0 | 2,072 | $642 | - |
A 387 Irwin Street Sold | $1,175,000 List Price | 4 | 2 | 1,876 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1938, the property is well-maintained but dated. The kitchen features older white cabinetry and appliances likely from a 20+ year old renovation. The presence of wall heaters and window AC units indicates dated HVAC systems, and exterior wood stairs and concrete surfaces show signs of age requiring minor repairs.
This duplex configuration is ideal for both investors seeking cash flow and owner-occupants looking to offset their mortgage with rental income from the second unit.
The property features exceptional vistas of San Rafael Bay, the Richmond-San Rafael Bridge, and Mount Diablo, providing a high-value aesthetic that appeals to premium tenants.
The seller's openness to discussing seller financing offers a significant advantage for qualified buyers, potentially providing more favorable terms and a smoother acquisition process.
Built in 1938, the property may require more frequent maintenance or capital improvements to its aging systems compared to newer residential income properties.
The assigned middle and high schools carry a rating of 5, which may be a consideration for families prioritizing top-tier educational districts.
Featuring spectacular views, 111 Altena Street offers two 2-bedroom/1-bath units, perfect for investors seeking cash flow or owner-occupants looking to offset their mortgage with rental income. Seller financing available with a 10-year term and 4-year prepayment penalty. Interest rate and overall terms to be negotiated based on purchase price, down payment, buyer creditworthiness, and financial qualifications. Seller may offer financing at a rate competitive with, and potentially more favorable than, prevailing market rates depending on offer terms. Interest-only payments may be considered for up to 18 months. The property's hallmark is its sweeping, panoramic vistas of San Rafael Bay, the Richmond-San Rafael Bridge, East Bay hills, and Mount Diablo, providing a serene backdrop from sunrise to sunset. Lower Unit (Leased): 2BD/1BA with a private layout, dedicated sitting area to maximize the views, dedicated laundry, a private outdoor patio, and dedicated parking. Upstairs Unit (Owner-Occupant Potential): 2BD/1BA featuring a classic layout, cozy fireplace, view-focused sitting area, separate dining space, functional kitchen, dedicated laundry, private patio and valuable one-car garage with storage. This is a compelling chance to acquire an income-generating view property in a highly desirable San Rafael location. The property offers exceptional convenience, providing quick access to major thoroughfares for commuting toward San Francisco and across the Bay. Residents are moments from Marin's celebrated outdoor lifestyle, including waterfront strolling near Loch Lomond Marina and hiking at China Camp State Park, and are minutes away from the Bon Aire Shopping Center for daily needs. Buyer to verify all details including square footage, unit mix, and rental amounts.
No exterior & parking available.
Grades K-5 • 1.1 mi
Grades K-5 • 1.7 mi
Grades 6-8 • 1.2 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 3.0 | 33% |
| Baths | 0.0 | 2.0 | 33% |
| Square foot | 2,072 | 1,876 | 67% |
| Lot Size | 7,457 | 7,457 | 50% |
| Price | $1.17M | $995.0K | 67% |
| Price per sq ft | $567 | $0 | 67% |
| Built year | 1938 | 1938 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 24 | 295 | 33% |
May 13, 2026
$1,174,990
Initial Listing
Oct 31, 2002
$532,000
Public Record