DUPLEX, 60-62 Ridge Ave, San Rafael
Side by side duplex with upside potential in rents. Originally built in 1947, the units have been substantially upgraded through the years.
Both units have similar 2BR/1BA floorplans with bedrooms, bath, and kitchen on the main level and a separate dedicated extra room and common laundry room with individual hook-ups, and garage entrance on the lower level. The City report reflects these extra rooms as third bedrooms; however, the area is not heated. This lower level might easily convert into a third Accessory Dwelling Unit (ADU). A buyer should check with the City of San Rafael on their requirements.
The kitchens were remodeled in 2003. The furnaces, water heaters, deck and the roof were replaced in 2003. There was also extensive remodeling done in 1980. Overall, the property seems to be in good condition. There was correction foundation work done in 1979 and the stucco was poorly patched.
Both apartments have central forced-air heating and separate hot water heaters. Units are separately metered for (and tenants pay for) PG&E as well as water.
The units are tenant occupied with below-market rents of $1,500 and $1,750.
During the SIP orders, the apartments are not available for showing prior to an accepted offer. Call for a link to full disclosures and reports.