Greenbrae - 7 Units
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151-153 Upper Via Casitas
Located high on the Greenbrae hill, this view complex was built in 1966 with a large 2400+ square foot townhouse “owners unit” and six over-sized rentals. The “Kyoto Gardens” has been in the same ownership since built and this is the first time offered on the market for sale.
All apartments feature dramatic views to Mt. Tam, the Corte Madera Creek and/or parts of the Bay. Apartments have fireplaces, individual washer/dryers and water heaters, large decks and garages. There is a pool and sauna for the tenants use.
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The “Kyoto Gardens” apartments offer an incredible view location high on the hill in the Greenbrae area of southern Marin County. This is not only a sought after location for tenants, but equally from investors seeking quality.
These apartments were designed for the owner to live in the main unit and have six separate rental units. The Townhouse owner’s unit is over 2,400 sq ft in size and features 2-3 bedrooms and 2.5 baths. It is orientated to have outstanding views of Mt. Tamalpais and the Corte Madera Creek below. This unit has its own private entrance at the end of the drive and a private two-car garage. There is a large deck off of the main level with a private hot tub and separate entrance to the pool area.
The six additional rental units are comprised of a 1,200+ sq ft 2BR/2BA apartment and five 1BR/1.5BA apartments over 900 sq ft (reference to size is from the original permit and must be verified by buyer). All apartments feature wood burning fireplaces, individual hot water heaters, large view decks, garages and separate dining areas. The complex has a pool with solar assist heating and a sauna.
The apartments were built in 1966, with two story wood frame construction, perimeter concrete foundation and stucco exterior. Overall the property seems to be well maintained but in mostly original condition. The kitchens and baths would benefit from some updating. The pool, driveway and roof all need some maintenance and repair. Apartments are individually metered for PG&E with one common water meter.
The tenant quality is above average and in keeping with the location. Rents are below market and offer significant upside potential to a new owner. Many tenants have been in place for a number of years with little tenant turnover and no adjustment in rent.
This is the first time this property has been offered on the market for sale since the year it was built. The property is owned by a trust of the original owner and they desire to sell the property in its present "AS IS" condition with all repairs, upgrades and changes, to be the responsibility of the Buyer. The pricing is meant to take this into account.
From US 101, west on Sir Francis Drake, left on El Portal (third light), left at top of hill, second right on Upper Via Casitas.
Apartments are tenant occupied. Please do not disturb occupants. Representative units can easily be seen by an appointment with the listing agent. Please review this brochure and drive by property before requesting an interior showing.
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500 Drakes Landing Rd.
Greenbrae, CA 94904
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