Beds
Baths
5,342 Sq. Ft.
$646 / Sq. Ft.
5,342
Sq. Ft.
$646
per Sq. Ft.

Description

515 B Street is a premier investment opportunity for local ownership groups to own the Brookside Apartments, a boutique multifamily property located in the Gerstle Park market of San Rafael. The property was built in 1975 and boats 10 one-bedroom, one-bathroom units on a quiet street near downtown San Rafael. The location attracts high-quality tenants with substantial rental upside through programmatic A+ finishes. This opportunity boasts high in-place rents and ownership has done significant capital...515 B Street is a premier investment opportunity for local ownership groups to own the Brookside Apartments, a boutique multifamily property located in the Gerstle Park market of San Rafael. The property was built in 1975 and boats 10 one-bedroom, one-bathroom units on a quiet street near downtown San Rafael. The location attracts high-quality tenants with substantial rental upside through programmatic A+ finishes. This opportunity boasts high in-place rents and ownership has done significant capital improvements including, but not limited to, seismic retrofit completed, roof replaced with 60mil TPO, SB 721 Balcony Inspection & repairs completed. The Brookside Apartments is a nearly turnkey investment with rental upside.
  1. Listed by Jefrey Henderson • DRE #01483399 • Brokerage DRE #01483399 • Jefrey Henderson, Broker • 408-306-3228

Property Details for 515 B Street

MLS City Name
SAN RAFAEL
Building Type
Other
Garage Spaces
0
Parking Spaces
10
LISTING UPDATED: 02/03/2026 09:38 AM

Property Details for 515 B Street

StatusActive
MLS #ML82013904
Days on Compass161
Taxes$53,000 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family 5+
MLS Type5+ Units / Five or More Units
Year Built1975
Lot Size0.32 AC / 13,808 SF
CountyMarin County

Location

Listing Courtesy of Jefrey Henderson, Broker, Jefrey Henderson, DRE #01483399
Add your commute

Building Information for 515 B Street

Stories-Residences-Year Built1975Building Size-Lot Size0.32 AC / 13,808 SF

Payment Calculator

$21,231 per month

30 year fixed, 6.15% Interest

Principal and Interest

$16,815

Property Taxes

$4,417

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 515 B Street

Features
Features
  • Fireplace: No
  • Living SqFt: 5342
  • Pool: No
  • Security Features: Other
  • Special Features: None
Utilities
  • Cooling: Central Forced Air - Gas
  • Heating: Central Forced Air - Gas
  • Meters: Master Water, Separate Electric, Separate Gas
  • Sewer Septic: Unknown
  • Utilities: Individual Electric Meters, Individual Gas Meters
  • Water: Individual Water Meter
Carport and Parking
  • Carport Min: 4
Garage
  • Garage and Parking: Assigned Spaces
Property Details
Homeowners Association
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Min Num Of Units in Complex: 10
  • Area Text: San Rafael
  • Restrictions: None
  • Roof: Foam
  • Subclass: Five or More Units
  • Year Built Source: Assessor
  • Street Number: 515
  • Street Name: B
  • Street Suffix: Street
  • Area ID: 21162
Lot / Property Details
Building Information
  • Number of Buildings: 1
  • Structure SqFt: 5342
  • Structure SqFt Source: Assessor
  • Age: 50
Development Information
  • Zoning Detail: N/A
Location Information
  • Parcel Number: 012-157-23
  • County Name: Marin
  • City Name: SAN RAFAEL
  • City Postal ID: 225
  • Postal Code: 94901
  • Elementary School District: 1884
  • High School District Text: San Rafael City High
Lot Information
  • Foundation: Concrete Slab
  • Lot Acres: .32
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Assessor
Multi Family Information
Building Information
  • No Of Leased: 9
General Information
  • Annual Tax Amount: $53,000
  • Capitalization Rate: 5.23
  • Tenant Expenses: Services - Trash Removal, Utilities - Electric, Utilities - Water
  • Income Includes: Laundry, Other
  • Vacancy Factor: 3
Income / Expense Details
  • Expense Insurance: $13,000
  • Expense Landscape: $5,000
  • Expense Maintenance: $4,644
  • Expense Management: $0
  • Expense Trash: $10,200
  • Expenses Other: $0
  • Expenses Utility: $14,500
  • Expenses Total: $100,344
  • Operating Expenses Include: Insurance, Maintenance, Utilities
  • Gross Rent Multiplier: 11.91
  • Income Annual Gross: $280,865
  • Income Annual Rental: $276,552
  • Income Gross Scheduled: $289,552
  • Income Other: $13,000
Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Number of Bedrooms: 1
  • Unit 1 Rent: $2,305
Unit Type 1
  • Unit Type1 Approx SqFt: 528

Property History for 515 B Street

DateEvent & SourcePriceAppreciation
Feb 3, 2026

Listed (Active)

EBRD #ML82013904

$3,450,000
Feb 3, 2026

Listed (Active)

MLSListings #ML82013904

$3,450,000
Dec 17, 2025

Pending

EBRD #ML82013904

Dec 17, 2025

Pending

MLSListings #ML82013904

Jul 9, 2025

Listed (Active)

EBRD #ML82013904

$3,450,000
Jul 9, 2025

Listed (Active)

MLSListings #ML82013904

$3,450,000
DateEvent & SourcePrice
02/03/2026

Listed (Active)

EBRD #ML82013904

$3,450,000
02/03/2026

Listed (Active)

MLSListings #ML82013904

$3,450,000
12/17/2025

Pending

EBRD #ML82013904

12/17/2025

Pending

MLSListings #ML82013904

07/09/2025

Listed (Active)

EBRD #ML82013904

$3,450,000
07/09/2025

Listed (Active)

MLSListings #ML82013904

$3,450,000

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

Schools near 515 B Street

This home is within San Rafael City Elementary School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Laurel Dell Elementary School
PublicK to 5

James B. Davidson Middle School
Public6 to 8

San Rafael High School
Public9 to 12

Terra Linda High School
Public9 to 12

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.

Similar Homes

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515 B Street is for sale in San Rafael, CA 94901. This property was listed for sale on July 9, 2025 by Jefrey Henderson, Broker, it's currently listed at $3,450,000. This listing's school districts are San Rafael City High School District, San Rafael City Elementary School District. Nearby schools include Laurel Dell Elementary School, James B. Davidson Middle School and San Rafael High School. 515 B Street is a 0-bed, 0-bath, 5,342 sqft built in 1975.

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 Jefrey Henderson, Broker, Jefrey Henderson, DRE #01483399

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.