$895,000
305 Ripley Ave Richmond, CA 94801
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$895,000
Est. payment /mo
3,798 Sqft Lot
Active
305 Ripley Ave Richmond, CA 94801
UPDATED:
10/02/2024 05:17 AM
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID 41061968
HOA Y/N No
Year Built 1927
Lot Size 3,798 Sqft
Property Description
Market rate rents in 3 units, plus 1 vacant unit and additional storage income, make 305 Ripley an excellent investment opportunity. Monthly revenue of $6520 translates to a 4.6% cap rate - an enticing option in this market. Professional property management ensures that the rents are current and that the available increases have been applied to existing tenants. Maintenance records are available back to 2019 - responsive owners have made necessary repairs. The vacant unit was updated in 2019 and the others have been refreshed between tenants. It's just minutes to downtown Richmond transit options and Kaiser Richmond. That, plus easy 580 / 80 access and the SF ferry mean you'll attract tenants looking for an easy commute. Pt. Richmond, Pt. Pinole Regional Park, and downtown Richmond offer cultural, recreation, and dining options, broadening the property's appeal. How often do you find an income property where you won't be waiting years to realize your income potential? Or where you can review the maintenance records to better understand your potential outlays? Or where the transit and lifestyle options ensure a steady stream of tenants? Whether you will realize your investment from all 4 units or make the vacant unit your home, this is the investment you've been hoping to find.
Location
State CA
County Contra Costa
Interior
Heating Electric, Wall Furnace
Flooring Tile
Fireplace No
Exterior
Garage Assigned, On Street
Roof Type Shingle
Parking Type Assigned, On Street
Total Parking Spaces 2
Building
Lot Description Back Yard, Garden, Street Level
Sewer Public Sewer
Others
Tax ID 5342120127
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Listed by Elisabeth Watson • Abio Properties
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