701 Alamo Ave 4 Unit Apartment Building $950,000 ($237,500/Unit) 8.27% Cap Rate Richmond, CA 94801

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701 Alamo Avenue presents an exceptional opportunity to acquire a well-maintained four-unit investment property offering strong and stable cash flow. The building generates $10,000 per month in rent, translating to an annual gross income of $120,000, providing immediate and consistent returns for investors seeking reliable performance in a growing submarket.
The property features a desirable and balanced unit mix with (2) two-bedroom, one-bath units and (2) three-bedroom, one-bath units, appealing to a wide range of tenants. With 2,928 square feet of total living area situated on a 5,000-square-foot lot, each unit averages over 700 square feet of comfortable, well-proportioned living space — a rare combination of size and efficiency that supports strong tenant retention.
Situated on a prime corner lot, the property benefits from excellent street presence, abundant natural light, and convenient access. It is also ideally located directly across from Shields-Reid Park, which is nearing completion of an $8 million renovation. The revitalized park will feature new recreation facilities and community spaces, further enhancing neighborhood appeal and long-term value for residents and investors alike.
- Strong Cash Flow: Generates $10,000 in monthly rent and an annual gross income of $120,000, offering immediate and consistent returns.
- Desirable Unit Mix: Includes (2) 2-bed/1-bath units and (2) 3-bed/1-bath units — ideal for a balanced tenant mix. With 2,928 sq ft of living space on a 5,000 sq ft lot, each unit averages over 700 sq ft of comfortable living area.
- Prime Corner Lot Location: Positioned on a spacious corner lot, the property benefits from excellent visibility, natural light, and convenient access.
- Across from Shields-Reid Park: Directly across the street from Shields-Reid Park, currently undergoing an $8 million renovation with new recreational amenities and community facilities — a major neighborhood enhancement that boosts long-term tenant appeal and property value.
- Individually Metered Utilities: Each unit is separately metered for gas, electric, and water, promoting efficiency and reducing ownership costs.
- Ample Off-Street Parking: Features off-street parking for four vehicles, an attractive amenity for tenants.