Large 4-unit apartment complex with strong current income and excellent rental upside. The unit mix is ideal and offers four 2bd/1bth units with a nice backyard area and four off-street garage parking spaces. The property was originally built in 1959, offers approximately 3,240 square feet of rental space, and sits on a 5,540 square foot lot. The property is separately metered for water and PG&E providing for low annual operating expenses. The building is 100% occupied with nice stable tenants that are easy to manage. The exterior and interior are in great condition with no deferred maintenance resulting in an attractive turn-key investment for the next owner. This is a perfect opportunity for an owner-occupant or an investor seeking great cash flow in a quiet neighborhood. This is an attractive Richmond location near numerous restaurants and shopping centers with easy access to public transportation and multiple major freeways. The neighborhood is family-focused with many single-family homes making this a high demand location for tenants.

HIGHLIGHTS

- 4-Unit Apartment Complex Offering Four Large 2bd/1bth Units with Four Garage Parking Spaces

- 100% Occupied with Strong Current Income and Excellent Rental Upside

- Separately Metered for Water, Gas, and Electric Providing for Low Operating Expenses

- Easy to Manage, Low Maintenance Property with Upgraded Electrical, Plumbing, and a Newer Roof

- Attractive Richmond Location Near Restaurants, Shopping Centers, and Public Transportation

- Current Cap Rate: 6.79%, ProForma Cap Rate: 9.65%

- Current GRM 10.75, ProForma GRM: 8.12

- Year Built: 1959 , Price/Unit: $223,750, Price/SqFt: $276.23