$895,000
305 Ripley Ave Richmond, CA 94801
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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
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Listed by Elisabeth Watson • Abio Properties
$895,000
Est. payment /mo
2,102 SqFt
UPDATED:
10/02/2024 12:06 PM
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,102 sqft
Price per Sqft $425
MLS Listing ID 41061968
HOA Y/N No
Originating Board Bridge AOR
Year Built 1927
Lot Size 3,800 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
Cooling No Air Conditioning
Flooring Tile
Fireplace No
Window Features Window Coverings
Laundry No Hookups
Exterior
Parking Type Off Street, Assigned
Building
Lot Description Level
Water Public
Schools
School District West Contra Costa (510) -231-1100, West Contra Costa (510) -231-1100
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