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Listed by The Pinza Group, Inc
$ 2,850,000
Est. payment | /mo
14,168 SqFt
$ 2,850,000
Est. payment | /mo
14,168 SqFt
Key Details
Property Type Commercial
Sub Type Garden Apts
Listing Status Active
Purchase Type For Sale
Square Footage 14,168 sqft
Price per Sqft $201
Subdivision Richmond
MLS Listing ID 41141554
HOA Y/N No
Year Built 1912
Lot Size 5,000 Sqft
Property Sub-Type Garden Apts
Source Bridge AOR
Property 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.
Location
State CA
County Contra Costa
Interior
Heating Other
Cooling Other
Flooring Other
Fireplace No
Building
Lot Description Other
Water Public
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