Centrally located in the heart of Downtown Novato, Third Street Apartments is a well-maintained 4-unit property featuring spacious 2-bedroom units setback on a level parcel in coveted Marin County. This midcentury gem includes exposed beam ceilings, in-unit laundry, dishwashers, covered parking, tenant storage, several fenced patios or decks, and updated electrical. Third Street Apartments offers a rare investment opportunity with strong fundamentals and substantial upside potential in a highly desirable location.
Multi-familyProperty Type
1968Year Built
7,501 sq ftLot Size
$375Price/Sq.Ft.
1 garage spacesParking
Listed by Katherine Raphael•DRE #02027825• NORCAL COMMERCIAL
Novato Northwest Quadrant, located between Novato Boulevard and Redwood Boulevard, is a residential and semi-rural Novato neighborhood with oak-dotted hillsides and creekside open space. The neighborhood’s character concentrates around the Grant Avenue and Redwood Boulevard junction, where independent cafes, taquerias, and small storefronts set a relaxed, walk-and-stop-in rhythm. Community pillars include the Novato Theater Company, Trek Winery, and the Marin Museum of Contemporary Art. Streets shift from mid-century ranch homes to newer hillside builds with wide setbacks and big-sky views. Hamilton Field’s hangars and trails add a distinct sense of place, while nearby wetlands and ridgelines shape weekend routines. Parks and preserves frame the edges, keeping the landscape present in daily life.
Provided by Walk Score and Local Logic
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Living
Bedrooms
Two bedrooms in each of the four units
Bathrooms
One full bathroom in Units 1, 2, and 4
Kitchen
Dishwasher, electric ovens and ranges, gas ovens and ranges, and refrigerators; appliances vary by unit
Laundry & utility
Laundry in each unit
Owned washers and dryers
Flooring
Carpet, laminate, and tile; flooring varies by unit
Heating & cooling
Central heating, fireplaces, and wall furnaces; heating varies by unit
No cooling
Exterior features
Balconies, decks, and enclosed patios; features vary by unit
Home design
Four-unit residential income property
Two stories
Parking
Carport, garage, off-street, open, and street parking
One garage space
Seven parking spaces total
Construction
Flat roof
Utilities
Public sewer
HOA & community
No homeowners association
Electricity and solar
View estimated energy costs and solar savings for this home
The R10 zoning district is intended for areas appropriate for a variety of medium density dwelling units, including multi-family, two-family and single family residences, either attached or detached. The maximum allowable residential density ranges from 10.1 to 20 dwelling units per acre. The R10 zoning district is consistent with the Medium Density Multiple Family Residential land use designation of the General Plan.
Permitted uses
Include but are not limited to:
Livestock production
Day care facility
Housing-Group
Housing-Single unit
Housing-Multiple units
Housing-Senior
Housing-Other
Recreation
Communications tower
Nov 6, 2025 • Active
Multi-family trade
Repair and recoat the roof of a carport.
Roofing
Dec 14, 2021 • Final
Multi-family construction
Replace a heater in an apartment unit. This permit addresses work performed without a prior permit.
HVAC
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
3/10 Fire Factor
0.46% chance of being in a wildfire in next 30 years
3/10 Heat Factor
7 days above 91° expected this year, 17 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
7/10 Air Factor
12 unhealthy days expected this year, 12 days in 30 years
Provided by First Street
Historical weather
Novato, CA • 94945
Average low and high temperatures (°F)
61
41
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44
71
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47
75
51
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81
55
87
55
84
58
74
51
65
46
58
45
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
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Dec
Sun exposure
87/ 100
Very good sunlight
Sunscore
This home ranks in the top 18% for direct sun exposure in Novato. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
9 hrs
5.7 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 1041 3rd St
We cannot show automated home-value estimates for this home.
Nearby homes have recently sold between $1,290,000 and $1,570,000.
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $1.3M to $1.6M.