EXECUTIVE
SUMMARY
Berkadia is pleased to exclusively present the opportunity to acquire Sorich Commons (or the “Site”), an incredibly rare +4-acre residential development site in Marin County's ultra-affluent Ross Valley. This one-of-one offering allows for the by-right development of up to 111 units in an extraordinarily supply-constrained market while benefiting from a streamlined entitlement process. The Site is uniquely situated within a classic Marin landscape, featuring undeveloped rolling hills, mature oaks, and abundant natural amenities, alongside the advantages of suburban walkability and access to A+ rated schools. Sorich Commons is a generational opportunity to create a signature project within one of the nation’s wealthiest and highest-barrier-to-entry markets.
Investment Summary
- Price
- Bid Deadline
- Address
- County
- APNs
- Gross Site Acreage
- Current Use
- Current Zoning
- Max Units*
*Base density of 74 units, though can develop up to 111 units by utilizing the 50% state density bonus. Marin County's programmatic EIR assigned a 35% density bonus to the site allowing for up to 99 units.
INVESTMENT
Highlights
Unprecedented Development Opportunity in One of The Country's Highest Barrier-to-Entry Markets
- Marin County’s ultra-affluent Ross Valley has delivered only one multifamily community in over 50 years, resulting in an average apartment occupancy of approximately 97%, and zero new condo communities greater than 10 units in nearly 40 years.
- Overall Marin County demonstrates remarkably low development activity, featuring only one market-rate multifamily property of 50+ units completed in the past 10 years and none currently under construction – 75% of the County’s apartment communities are located in San Rafael and Novato, with the remaining 25% located in Ross Valley or southern Marin.
- Sorich Commons presents a unique opportunity to create a transformative for-rent or for-sale community in a region where comparable land for large-scale residential development is essentially nonexistent.
Streamlined Entitlements via
Strategic Development Advantages
- The Site’s unincorporated location benefits from the County of Marin’s pro-development initiatives, including Housing Overlay District revisions and density bonuses, which accelerate the entitlement approval process.
- Developers can bypass discretionary review by adhering to the form-based code and inclusionary housing requirement, significantly expediting the entitlement timeline.
- The Site has a base density of 74 units, with the potential to increase to up to 111 units through density bonuses, leveraging recent environmental impact reports and state density law.
Irreplaceable Location Offering Quintessential Marin Lifestyle & Exceptional Natural Amenities
- The approximately four acres of quintessential California real estate borders the 60-acre Sorich Park, creating a seamless blend of residential living and natural open space.
- Situated in San Anselmo, voted a top Marin County location, the Site offers proximity to the Red Hill Shopping Center and highly rated schools, enhancing resident convenience.
- The Site’s direct connection to established trails and expansive views of Mount Tamalpais and the surrounding landscape provides residents with unparalleled access to outdoor recreation.
Highly Coveted Locale Within Nation’s
Sixth-Wealthiest County
- Voted the second-best place to live in Marin County by Niche.com, San Anselmo provides an excellent quality of life through its combination of A+-rated public schools, low crime rates, a charming small-town atmosphere, and abundance of recreational opportunities.
- With an average home price of approximately $1.6 million and only 57 total housing units added in the past 15 years, San Anselmo represents an ultra-exclusive locale within one of the nation’s most expensive counties for homeownership.
- San Anselmo’s affluent demographics feature a median household income of approximately $185,000, projected to increase to approximately $221,000 by 2030, and a 72% college attainment rate.
THE LOCATION
Contact
Investment Sales
Scott MacDonald
Managing Director
+1 415 310 0487
[email protected]
CA DRE #01422005
Jason Parr
Senior Managing Director
+1 415 407 2106
[email protected]
CA DRE #01323188
John Hansen
Director
+1 415 342 5772
[email protected]
CA DRE #02078357
Brett Betzler
Senior Managing Director
+1 949 981 1196
[email protected]
CA DRE #01330214
Kaohu Berg-Hee
Senior Director
+1 808 754 30033
[email protected]
CA DRE #01986886
Sydney Ladrech
Associate
+1 916 677 6633
[email protected]
CA DRE #02126658
Brayden Joel
Senior Financial Analyst
+1 503 933 9284
[email protected]
CA DRE #02204506
Matt McCrum
Senior Financial Analyst
+1 415 272 2924
[email protected]
CA DRE #02204506
Sorich Commons
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