555 Larkspur Plaza Drive

Southern Marin investment property at its best. Waterfront on the Corte Madera Creek with a shared boat dock for your Kayak or canoe. Close to downtown Larkspur with all its restaurants, tennis club, and parks.

A 2BR/2BA owner’s unit on the second floor was recently completely remodeled and expanded. This apartment features a large deck and views of the creek.

1971 construction, lovingly cared for and upgraded through the years. On-site laundry, covered parking, and separately metered for PG&E. Two-story wood frame and stucco/stone on a concrete foundation with a composition shingle roof.

This is a low maintenance, low management design with minimal landscaping.  Apartments are a mix of four large 1BR floorplans and 1 large 2BR/2BA floorplan.  Tenants benefit from extra storage lockers in the carport and a private locker in the laundry room. All apartments have forced air heating and dishwashers in the kitchen. 

The property appears to be in very good condition, lovingly maintained by a long-term owner. The roof was replaced this last year and the 2BR unit#5 was expanded and completely rebuilt.  It would be ideal for an owner occupant or a relative. The four 1BR apartments are in good condition but would benefit from upgrades to kitchens and baths.

Rents are below market due to the long-term occupancy of some tenants. There is a significant upside in the rental income.  Rents have not been raised since the start of COVID.

The property sits along a creek and is in a flood zone.  Larkspur Plaza Drive can have seasonal flooding. Property sub-areas have a sump pump and emergency backup power.

Call for a link to disclosures and report, showing schedule, and sale overview.