2-10 Shelley Dr, Mill Valley, California, United States

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Home For Sale

$8,249,000

2-10 Shelley Dr
Mill Valley, California, United States

26bd

Listed By: Realtyww Info

Listed On: 07/17/2024

Listing ID: GL11925899 View More Details

Description

The property is a deluxe rental community located in Mill Valley, an exclusive Bay Area enclave known for its affluence, excellent commutability, and breathtaking views of the Marin hills. This community comprises two adjacent three-story buildings on separate parcels, providing a total of 14 upscale residential units. The unit mix includes twelve spacious two-bedroom, one-bath apartments and two one-bedroom, one-bath apartments. In 2018, the properties underwent significant upgrades, including exterior painting, new roofs, and balconies, along with the installation of double-pane windows and sliders. The buildings have also been seismically retrofitted in anticipation of the Mill Valley soft-story ordinance, providing added safety and peace for a new owner. Mill Valley is a competitive rental market, often preferred by highly paid San Francisco employees who can work remotely and appreciate the area's high quality of life. The lack of significant new housing stock in southern Marin County further ensures that rents and property values will continue to appreciate. This presents a rare opportunity to acquire a turnkey property with strong, long-term cash flow and minimal maintenance in one of Northern California's most desirable sub-markets.

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Listed by: Erich M Reichenbach