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Listed by David Howarth • The Pinza Group, Inc
$ 1,250,000
Est. payment /mo
Active
410 S 34Th St Richmond, CA 94804
4,814 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Garden Apts
Listing Status Active
Purchase Type For Sale
Square Footage 4,814 sqft
Price per Sqft $259
Subdivision Pullman Area
MLS Listing ID 41136845
HOA Y/N No
Year Built 1963
Lot Size 7,875 Sqft
Property Sub-Type Garden Apts
Source Bridge AOR
Property Description
www.410s34th.com; 6-unit apartment complex with excellent current cash flow and strong upside. The current cap rate is 7.90% and the current GRM is 8.86%. The unit mix is ideal and includes six 2bd/1bth units and is nearly 100% occupied. The property was originally built in 1963, offers approximately 4,814 square feet of living space, and sits on 7,875 square feet lot with off-street parking for all tenants. The property is separately metered for water, gas, and electric providing for low annual operating expenses. The units have been remodeled over time and offer a mix of updated kitchens and bathrooms with wood floors, double pane windows, and new paint. The owner manages self-manages the building and all the tenants are nice and current on rent. The exterior and interior are in great condition with no deferred maintenance. The neighborhood is comprised of mostly single-family homes with few other apartment buildings reducing local inventory. There are many local restaurants and shopping options nearby with easy access to HWY580 and HWY80 making this a high-demand location for tenants. Vacant units rent fast and tenants stay for long periods of time making this an ideal investment location.
Location
State CA
County Contra Costa
Interior
Heating Other
Cooling Other
Flooring Other
Fireplace No
Building
Lot Description Other
Water Public
Others
Special Listing Condition Standard
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