Description
21-unit mixed-use investment in Richmond near countless restaurants and shopping options. The current cap rate is 9.56% and the current GRM is 7.05. The property is almost 100% occupied with stable cash flow and offers excellent in-place income and with strong rental upside. The property was originally built in 1912, offers approximately 14,168 square feet of rental space and sits on a 5,000 square foot corner lot. The unit mix consists of three commercial units, four 2bd/1bth units, five 1bd/bth units and nine studio units. Many of the units have been remodeled over time with an updated electric systems and newer roof. The property is easy to maintain and separately metered for electric and gas providing low annual operating expenses. The exterior and interior are in great condition with no deferred maintenance resulting in an attractive turn-key investment for the next owner.
Details
| MLS # | 41141554 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1912 |
| Days On Site | 40 |
| Listing Provided By | The Pinza Group, Inc | David Howarth |
Features
| Units | 21 |
|---|---|
| Acreage | 0.11 |
Interior
| Cooling | See Remarks |
|---|---|
| Heating | See Remarks |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
Exterior
| Construction Materials | Other |
|---|
Area Information
| State | CA |
|---|---|
| County | Contra Costa |
| City | Richmond |
| Zip Code | 94804 |
| Community Name | RICHMOND |
| Listing VS Median (in RICHMOND) | |
Price: $2,850,000 low | high Med: $0 On site: 40 low | high Med: | |
Market Activity 94804
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Learn More About This Property
| State | CA |
|---|---|
| County | Contra Costa |
| City | Richmond |
| Zip Code | 94804 |
| Community Name | RICHMOND |
| Listing VS Median (in RICHMOND) | |
Price: $2,850,000 low | high Med: $0 On site: 40 low | high Med: | |
 | $1,100,000245 24th StRichmond, CA 94804 |
 | $1,100,000245 24th StRichmond, CA 94804 |