49 Ignacio Ln

6,800 Sq. Ft.
$426 / Sq. Ft.
6,800
Sq. Ft.
$426
per Sq. Ft.

Description

Ignacio Lane Apartments is a well located property adjacent to open space and neighborhood retail, offering 10 stylish, loft-like studios, each with private outdoor areas. Well maintained and fully occupied, the property presents an excellent investment opportunity that provides immediate cash flow. The building benefits from recently replaced electrical subpanels, roof, common water heater, and new card operated laundry machines. Select units are updated with vinyl plank flooring, granite countertops,...Ignacio Lane Apartments is a well located property adjacent to open space and neighborhood retail, offering 10 stylish, loft-like studios, each with private outdoor areas. Well maintained and fully occupied, the property presents an excellent investment opportunity that provides immediate cash flow. The building benefits from recently replaced electrical subpanels, roof, common water heater, and new card operated laundry machines. Select units are updated with vinyl plank flooring, granite countertops, and stainless steel electric appliances. The property is turnkey with demonstrated high rents of $2,000/mo plus a utility reimbursement program to offset water and garbage expenses. 5.01% Cap Rate on current rents, and a 5.63% Cap Rate with all rents at the demonstrated high of $2,000. Ignacio Lane Apartments is a quality investment asset, positioned to provide its new owner with immediate, reliable cash flow and long-term appreciation in a highly constrained, blue-chip Bay Area submarket.
  1. Listed by John W Garrett • DRE #01421403 • Brokerage DRE #00662084 • Marcus & Millichap

Property Details for 49 Ignacio Lane

Cross Street
Norman Dr
Total Parking Spaces
10
LISTING UPDATED: 12/06/2023 08:10 AM

Property Details for 49 Ignacio Lane

StatusClosed
MLS #323047566
Days on Compass119
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / 5 or More Units
Year Built1974
Lot Size0.68 AC / 29,799 SF
CountyMarin County

Location

Listing Courtesy of Marcus & Millichap, John W Garrett, DRE #01421403

Sold By Marcus & Millichap, John W Garrett, DRE #01421403

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Building Information for 49 Ignacio Lane

Stories-Residences-Year Built1974Building Size-Lot Size0.68 AC / 29,799 SF

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$15,409 per month

30 year fixed, 6.46% Interest

Principal and Interest

$14,603

Property Taxes

$806

HOA Dues

$0

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Property Information for 49 Ignacio Lane

Summary
Location and General Information
  • Area/District: Novato
  • Area Short Display: A1700
  • Directions to Property: West on Entrada Dr, Left on Norman Dr, Left on Ignacio Ln.
  • Area Long Display: Novato
Taxes and HOA Information
  • Association: No
  • Association Fee: $0
  • APN: 160-201-22
Parking
  • Parking Features: Covered
  • Carport Spaces: 10
  • Garage Spaces: 0
  • Open Parking Spaces: 0
  • Covered Spaces: 0
  • Independent Parking Spaces: 0
  • Tandem Parking Spaces: 0
Virtual Tour
  • Virtual Media Count: 1
Property
Lot Information
  • Square Footage: 6800.0
  • Square Footage Source: Assessor Auto-Fill
  • Year Built Source: Assessor Auto-Fill
  • Lot Size Source: Assessor Auto-Fill
  • Lot Size Square Feet: 29799.0
  • Lot Features: None
Property and Assessments
  • Buyer Financing: Not Reported
  • Picture Count: 11
  • Property Disclaimer: Information has not been verified, is not guaranteed, and is subject to change. Any offer of compensation is made exclusively to Broker Participants of the MLS where the subject listing is filed.<BR> Copyright &copy; 2023 Bay Area Real Estate Information Services, Inc. All rights reserved.<BR>Copyright</A> &copy;2023 <A name="trans">Rapattoni Corporation. All rights reserved.</A><BR>U.S. Patent 6,910,045
  • Actual or Scheduled: Scheduled
  • Gross Rent Multiplier: 13.33
Utilities
  • Sewer: Sewer Public
  • Water Source: Water Public
Interior and Exterior Features
Exterior Features
  • # of Floors: 0
Interior Features
  • Heating: Wall Furnace
  • Cooling: Wall Unit(s)
  • Laundry Features: Coin Operated, Washer/Dryer Leased
  • # of Guest Space(s): 0
Multi Family
1 Bedroom Unit
  • # of 1 Bedroom Units: 0
  • 1 Bedroom Rent Range: 0
  • 1 Bedroom Annual Occupancy: .00%
  • # of 1 Bedrooms Occupied: 0
2 Bedroom Unit
  • # of 2 Bedroom Units: 0
  • 2 Bedroom Rent Range: 0
  • 2 Bedroom Annual Occupancy: .00%
  • # of 2 Bedrooms Occupied: 0
3 Bedroom Unit
  • # of 3 Bedroom Units: 0
  • 3 Bedroom Rent Range: 0
  • 3 Bedroom Annual Occupancy: .00%
  • # of 3 Bedrooms Occupied: 0
4 Bedroom Unit
  • # of 4 Bedroom Units: 0
  • 4 Bedroom Rent Range: 0
  • 4 Bedroom Annual Occupancy: .00%
  • # of 4 Bedrooms Occupied: 0
Income & Expenses
  • Gross Scheduled Income: $225,048.00
Multi-Family Information
  • # Commercial Units: 0
  • # Of Buildings: 1
  • # Of Units Total: 10
  • # of Studio Units: 10
  • # Studios Occupied: 10
Unit 1
  • Unit 1 Bedrooms: 0
  • Unit 1 Description: Studio
  • Unit 1 Full Baths: 1
  • Unit 1 Partial Baths: 0
  • Unit 1 # of Rooms: 2
  • Unit 1 Approx SqFt: 470
  • Unit 1 Type: Apartment
Unit 2
  • Unit 2 Bedrooms: 0
  • Unit 2 Description: Studio
  • Unit 2 Full Baths: 1
  • Unit 2 # of Rooms: 2
  • Unit 2 Approx SqFt: 470
  • Unit 2 Type: Apartment
Unit 3
  • Unit 3 Bedrooms: 0
  • Unit 3 Full Baths: 0
  • Unit 3 Partial Baths: 0
  • Unit 3 # of Rooms: 0
  • Unit 3 Approx SqFt: 0
Unit 4
  • Unit 4 Bedrooms: 0
  • Unit 4 Full Baths: 0
  • Unit 4 Partial Baths: 0
  • Unit 4 # of Rooms: 0
  • Unit 4 Approx SqFt: 0

Property History for 49 Ignacio Lane

DateEvent & SourcePriceAppreciation
Nov 30, 2023

Sold (Public Record)

Public Record #1522921697

$2,900,000

+8.7% / yr

Nov 30, 2023

Sold

REBAREIS #323047566

$2,900,000
Nov 23, 2023

Pending

REBAREIS #323047566

Aug 23, 2023

Contingent - Show

REBAREIS #323047566

Jul 11, 2023

Listed (Active)

REBAREIS #323047566

$3,000,000
Jun 18, 2014

Sold (Public Record)

Public Record #418042254

$1,315,000

+7.7% / yr

Jul 9, 2010

Sold (Public Record)

Public Record #292589873

$980,500

+28.2% / yr

Apr 30, 2008

Expired

RESFAR #20806564

$1,389,000
Mar 3, 2008

Listed (Active)

RESFAR #20806564

$1,389,000
Jan 11, 2008

Expired

RESFAR #20701169

$1,389,500
Jan 13, 2007

Price Change

RESFAR #20701169

$1,495,000
Jan 13, 2007

Listed (Active)

RESFAR #20701169

$1,389,500
Dec 31, 2001

Sold (Public Record)

Public Record #82277033

$118,000

-97.5% / yr

May 30, 2001

Sold (Public Record)

Public Record #72929030

$1,045,000
DateEvent & SourcePrice
11/30/2023

Sold (Public Record)

Public Record #1522921697

$2,900,000

+8.7% / yr

11/30/2023

Sold

REBAREIS #323047566

$2,900,000
11/23/2023

Pending

REBAREIS #323047566

08/23/2023

Contingent - Show

REBAREIS #323047566

07/11/2023

Listed (Active)

REBAREIS #323047566

$3,000,000
06/18/2014

Sold (Public Record)

Public Record #418042254

$1,315,000

+7.7% / yr

07/09/2010

Sold (Public Record)

Public Record #292589873

$980,500

+28.2% / yr

04/30/2008

Expired

RESFAR #20806564

$1,389,000
03/03/2008

Listed (Active)

RESFAR #20806564

$1,389,000
01/11/2008

Expired

RESFAR #20701169

$1,389,500
01/13/2007

Price Change

RESFAR #20701169

$1,495,000
01/13/2007

Listed (Active)

RESFAR #20701169

$1,389,500
12/31/2001

Sold (Public Record)

Public Record #82277033

$118,000

-97.5% / yr

05/30/2001

Sold (Public Record)

Public Record #72929030

$1,045,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 49 Ignacio Lane

Taxable ValueLand$1,519,800Additions$1,438,120Total$2,957,920
Tax Record2025$9,666 ($806 / month)
Home Facts
Total Finished SqFt6,800 SqFtAbove Grade Finished SqFt6,800 SqFtLot Size29,800 SqFtStyleDuplexYear Built1974Year Renovated1985CountyMARINAPN160-201-22

Schools near 49 Ignacio Lane

This home is within Novato Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Charter - K to 8
Public - 9 to 12
Public - 6 to 8
Rating
School
Distance
Loma Verde Elementary School
PublicK to 5

Novato Charter School
CharterK to 8

Novato High School
Public9 to 12

San Jose Intermediate
Public6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap, John W Garrett, DRE #01421403

Based on information from one of the following Multiple Listing Services: San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® 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 San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® 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. 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.