$5,250,000
3, 5, & 33 Circle Drive presents a compelling opportunity to acquire 12 spacious apartments with meaningful income upside in Tiburon, one of Northern California's most affluent communities. The location combines scenic views and a desirable residential setting with convenient access to San Francisco via ferry service and nearby Highway 101. Shopping, restaurants, and grocery stores are a short drive away. Constructed in 1964, the property consists of three wood-frame, stucco-clad buildings with pitched composite shingle roofs. The unit mix includes (3) one-bedroom/one-bath, (7) two-bedroom/two-bath, and (2) three-bedroom/two-bath apartments, all with generous floor plans. Interior features include dishwashers, forced-air heating, and walk-in closets. Every apartment has a private deck, many with impressive views, while the three-bedroom residences also feature fireplaces. Parking consists of 13 covered spaces and eight surface spaces, and each apartment has a dedicated storage closet. The property is part of Tiburon View Apartments, a professionally managed HOA comprising seven investor-owned apartment properties with a total of 68 residences. Shared amenities include a resort-quality swimming pool, bocce court, landscaped courtyard, common laundry facility, and elevator access. HOA dues cover insurance, water, garbage, and common area maintenance, streamlining ownership responsibilities. Below-market rents offer an opportunity to increase income over time. A few apartments have been attractively remodeled, illustrating the potential to achieve substantially higher rents through renovations to the remaining units. With minimal deferred maintenance, investors can direct capital toward improvements that enhance rental appeal and long-term value. The combination of spacious apartments, extensive amenities, and a sought-after Tiburon location positions 3, 5, & 33 Circle Drive as an attractive, long-term investment with a clear value-add strategy.
326091586
MLS
3 Circle Dr, Tiburon