6-units with Excellent Cash Flow 410 S 34th St 6 Unit Apartment Building $1,250,000 ($208,333/Unit) 7.90% Cap Rate Richmond, CA 94804

6-unit apartment complex with excellent current cash flow and strong upside. The unit mix is ideal and includes six 2bd/1bth units and is nearly 100% occupied. There is one vacant unit we are holding vacant for showing purposes and possible owner-occupants but can be leased before closing for investors. The property was originally built in 1963, offers approximately 4,814 square feet of living space, and sits on 7,875 square feet lot with off-street parking for all tenants and private backyards. The property is separately metered for water, gas, and electric providing for low annual operating expenses. The units have been remodeled over time and offer a mix of updated kitchens and bathrooms with wood floors, double pane windows, and new paint. The owner manages self-manages the building and all the tenants are nice and current on rent. The exterior and interior are in great condition with no deferred maintenance resulting in an attractive turn-key investment for the next owner. The neighborhood is comprised of mostly single-family homes with few other apartment buildings reducing local inventory. There are many local restaurants and shopping options nearby with easy access to HWY580 and HWY80 making this a high-demand location for tenants. Vacant units rent fast and tenants stay for long periods of time making this an ideal investment location.
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