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617 16th St. 617 16th St 2 Unit Apartment Building $650,000 ($325,000/Unit) 4.10% Cap Rate Richmond, CA 94801
INVESTMENT HIGHLIGHTS
- (1) Large 3b/2ba & (1) Large 3b/1.5ba Units w/ hardwood floors & updated bathrooms
- Significant upside in rents
- 1990's Construction
- Tenants Pay All Utilities!
- Washer/Dryers in building
- Attached Garages + driveway parking (2 spaces/unit)
EXECUTIVE SUMMARY
Experience an exceptional investment opportunity with this meticulously maintained multifamily property in Richmond, CA. This garden-style building offers two spacious, 3b/2ba & 3b/1.5ba units with hardwood floors, tiled bathrooms, wood cabinetry, and washer/dryers located in the back. TENANTS PAY ALL UTILITIES! Built in 1991 and zoned RM2, this property is immaculately presented, with 100% occupancy providing a steady income stream from day one. The prime Richmond location offers convenient access to local amenities and transportation routes, catering to the modern investor's needs. With a strong rental history and well-maintained grounds, this property represents a sound choice for discerning multifamily investors seeking long-term value and reliability.
PROPERTY FACTS
| Price | $650,000 | Apartment Style | Low-Rise |
| Price Per Unit | $325,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.10 AC |
| Cap Rate | 4.10% | Building Size | 3,013 SF |
| Gross Rent Multiplier | 4.16 | Average Occupancy | 100% |
| No. Units | 2 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1991 |
| Property Subtype | Apartment | Parking Ratio | 1.33/1,000 SF |
| Zoning | RM2 | ||
| Price | $650,000 |
| Price Per Unit | $325,000 |
| Sale Type | Investment |
| Cap Rate | 4.10% |
| Gross Rent Multiplier | 4.16 |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 3,013 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1991 |
| Parking Ratio | 1.33/1,000 SF |
| Zoning | RM2 |
AMENITIES
UNIT AMENITIES
- Storage Space
- Washer/Dryer
- Heating
- Tile Floors
- Hardwood Floors
- Refrigerator
- Range
- Dining Room
- Freezer
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2 | 1 | $2,072 | 1,536 |
| 3+1.5 | 1 | $1,662 | 1,476 |
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617 16th St. | 617 16th St
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