Rare investment opportunity in the heart of San Rafael, Marin County, one of California's most supply-constrained rental markets. This exceptional 17-bedroom, 9-bath income property sits on 1.66 acres across two parcels with pro forma gross rental income potential of $296,400/year. The property features a main structure with 16 bedrooms and 8 baths operating on a room-by-room rental model, 14 standard rooms at $1,300/mo and 2 premium rooms at $2,000/mo, plus a fully detached 1BD/1BA private residence with a market rent of $2,500/mo. Pro forma owner-managed NOI of approximately $185,888/year supports the $2,900,000 asking price at a 6.41% projected cap rate. All figures are pro forma projections based on market rents; buyer to verify.
Multi-familyProperty Type
1948Year Built
0.88 acresLot Size
$520Price/Sq.Ft.
Listed by Preet Ballagan•DRE #02125828• KW Advisors
Terra Linda, located between Lucas Valley Road and the Terra Linda-Sleepy Hollow Divide, is a mid-century and hillside San Rafael neighborhood with a civic town center and open-space trailheads. The neighborhood’s character concentrates around the Northgate Town Center corridor along Las Gallinas Avenue, where cafes, small shops, and everyday errands share the same sidewalks. Eichler-style lines and low-slung ranch homes set a clean, indoor-outdoor architectural rhythm across the flats. Terra Linda Community Center and Pool acts as a local gathering point beside the community park. Terra Linda High School’s campus and fields add a steady, daytime pulse. China Camp State Park frames the eastern edge with bay views and long, quiet trails.
Provided by Walk Score and Local Logic
Market insights
179 Los Ranchitos Rd · $2,900,000
DAYS ON MARKET
178 days
The average home goes pending in 49 days.
SALE-TO-LIST
95.8%
Most homes are selling 4% below list price.
LIST PRICE
$2,900,000
Median list price in this area is $1,501,309. (48% lower than this home)
PRICE DROP
0 price drops
15% of homes in this area have had a price drop in the past month.
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Living
Interior features
Laminate flooring
Flooring
Laminate
Heating & cooling
No air conditioning
Exterior features
Back yard
Front yard
Side yard
Patio
Balcony/patio
Garden
Storage
Home design
Residential income property
Two houses on one lot
Zoned R-20
Built in 1948
Parking
Attached garage
Parking lot with a total of 6 parking spaces
Construction
Stucco construction
Utilities
No air conditioning noted
HOA & community
Play area
Recreation
Electricity and solar
View estimated energy costs and solar savings for this home
bridgeMLS, Bay East AOR, or Contra Costa AOR #41127432
Mar 16, 2026
Listed
$2,900,000
$520/sq ft
BAREIS #22028693
Nov 24, 2021
Price Changed
$2,050,000
$367/sq ft
Nov 24, 2021
Sold
$2,050,000
$367/sq ft
Nov 10, 2021
Pending
—
Nov 9, 2021
Contingent
—
Oct 25, 2021
Price Changed
$2,250,000
$403/sq ft
Sep 23, 2021
Price Changed
$1,750,000
$314/sq ft
Apr 22, 2021
Relisted
—
Dec 1, 2020
Listed
$2,500,000
$448/sq ft
Prime Marin R. E. Investment Opportunity in Priority Development Area with Transit Oriented Development overlay per City. 2022 Pro Forma Available for possible "covered play" of about $446K/year as housing for 33 students plus owner's unit 1B/1b. Employee housing for contractors, traveling medical personnel? Buyer will verify uses, desirability and value and impact of PDA, TOD and Senate Bills 9 and 10 etc. Great potential here!
BAREIS #22028729
Dec 1, 2020
Listed
*
Year
Property tax
Land + Additions
Assessment*
2017
$18,649 (+2.2%)
$840,686 + $606,189
$1,446,875
2016
$18,246 (+4.6%)
$840,686 + $606,189
$1,446,875
2015
$17,438 (+16.2%)
$824,208 + $594,307
$1,418,515
2014
$15,011 (+8.2%)
$700,330 + $522,160
$1,222,490
2013
$13,879 (+4.7%)
$700,330 + $522,160
$1,222,490
2012
$13,258 (−1.9%)
$636,664 + $474,691
$1,111,355
2011
$13,513 (+1.5%)
$606,347 + $452,087
$1,058,434
2010
$13,314 (−2.7%)
$625,100 + $466,070
$1,091,170
2009
$13,684 (−5.6%)
$625,100 + $466,070
$1,091,170
2008
$14,493
$658,000 + $490,600
$1,148,600
Public record
Public record
Zoning
Permits
Beds
17
Baths
9
Stories
—
Lot width
—
Lot depth
—
Lot size
1.61 Acres
Year renovated
1962
Finished Sq. Ft.
5,582
Unfinished Sq. Ft.
—
Total Sq. Ft.
5,582
Year built
1948
Style
Single Family Residential
County
Marin County
APN
175-292-34
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jan 20, 2023.
R20
Single-Family Residential District
The single-family residential districts provide opportunities for low-density, detached single-family residential development. Development densities are based on existing development patterns in the area and environmental site constraints. In hillside areas, development shall conform to the hillside development standards and review procedures established in Chapter 14.12, Hillside Development Overlay District.; Single-family residential districts include hillside resource residential land use categories with minimum densities of 2 or more acres for minimum lot sizes; hillside residential and residential estate categories with densities from 20,000 sq ft to 2 acre lot minimums; and low-density residential land use categories with densities ranging from 5,000 sq ft to 20,000 sq ft lot minimums.
Permitted uses
Include but are not limited to:
Garden center
Housing-Single unit
Housing-Multiple units
Housing-Senior
Educational/school
Recreation
Park & open space
Aug 9, 2022 • Final
Encroachment online
Replace a utility pole, switch, and anchor.
Electrical
Dec 9, 2020 • Final
Building
Construct a new two-car garage. Install a new window and door, and remove a load-bearing wall.
Addition
Remodel
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 88° expected this year, 16 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
8/10 Air Factor
15 unhealthy days expected this year, 15 days in 30 years
Provided by First Street
Historical weather
San Rafael, CA • 94903
Average low and high temperatures (°F)
59
43
62
46
68
49
68
48
73
52
77
54
77
55
83
57
80
57
75
54
62
49
56
46
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
77/ 100
Good sunlight
Sunscore
There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
9.8 hrs
5.3 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 179 Los Ranchitos Rd
$2,700,852
$199K under list price of $2.90M
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $1.3M to $3.0M.