Brannan Palmer Group
Barry Marsh, Brannan Palmer GroupPhone: (415) 320-3556
Email: barry@bpmoves.com
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listing
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MobileFor Sale
$1,895,000
11 Commodore Marina
Mill Valley, CA 94941
Listed by: Robert S Warner from Now Realty, (415) 331-5683
4Beds
4Baths
1,440Sq Ft
Est. Mortgage
$9,882/mo

This completely remodeled 4-Unit Houseboat is in a perfect location for visitors, just two blocks from the first Marin Airporter stop, a Golden Gate Transit stop leading to the Sausalito Ferry terminal and San Francisco beyond, and the only stop for the Muir Woods State Park tour bus. Even closer is the only company in the Bay Area offering Seaplane and Helicopter Tours of San Francisco, the Golden Gate Bridge and Marin County. 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. The 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 3.84 years at the bidding start price, The NOI was $285,993, making the Cap Rate 17.9%.

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Information courtesy of Now Realty is subject to verification and is not guaranteed.
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