Del Mesa Apartments (The Property) is a Pride of Ownership 18-unit Multifamily investment opportunity in Gerstle Park neighborhood, widely considered the A+ area of San Rafael. The Property features a well-maintained unit mix of twelve (12) one-bedroom, one-bathroom units and six (6) two-bedroom, one-bathroom units across a single three-story building set on a . 042 acre parcel. Ownership has completed meaningful renovations over the last decade with remaining upside through continued in-unit upgrades and rent growth to market across the balance of the units. Del Mesa Apartments is situated in Gerstle Park, one of San Rafaels most coveted residential enclaves. The neighborhood is characterized by mature tree canopy, well-maintained streetscapes, and a quiet, upscale character that distinguishes it from more commercially active San Rafael corridors. Gerstle Park consistently ranks among he citys most desirable and safest neighborhoods, attracting long-term, quality tenants.
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About Gerstle
Park
Gerstle Park, located between Downtown San Rafael and Dominican, is a historic and residential San Rafael neighborhood with hillside streets and early-1900s architecture. The neighborhood’s character concentrates around the Fourth Street corridor near Lootens Place, where independent cafes, galleries, and small restaurants set a walkable, after-work rhythm. The Rafael Film Center and the Marin History Museum act as cultural anchors, with live screenings and local exhibits. Gerstle Park’s Craftsman bungalows and Victorian-era homes sit under mature trees, with pocket views toward the ridgelines. Gerstle Park Playground and nearby open space shape a daily loop of dog walks and casual meetups. A short climb leads to trailheads and quieter blocks that feel removed from the downtown bustle.
Provided by Walk Score and Local Logic
Market insights
D · $5,900,000
DAYS ON MARKET
105 days
The average home goes pending in 49 days.
SALE-TO-LIST
95.8%
Most homes are selling 4% below list price.
LIST PRICE
$5,900,000
Median list price in this area is $1,522,500. (74% lower than this home)
PRICE DROP
1 price drop
20% of homes in this area have had a price drop in the past month.
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Living
Dining
Interior features
Window/wall air conditioning units
Electric heating
Bedrooms
One-bedroom units (12 units)
Two-bedroom units (6 units)
Bathrooms
One full bath in one-bedroom units
One full bath in two-bedroom units
Heating & cooling
Window/wall units for cooling
Electric heating
Exterior features
Single building containing all units
Flat/bitumen roof
Crawl space foundation
Home design
Multi-unit property (18 total units)
Parking
Carport available
Assigned parking spaces
Construction
Flat and bitumen roofing
Crawl space foundation
Utilities
Public water
Public sewer
Public utilities
Individual gas meters
Financial info
Month-to-month lease terms
All 18 units currently leased
Other
Total building area approximately 13,040 square feet
Electricity and solar
View estimated energy costs and solar savings for this home