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Listed by Julien Goavec Clearpoint Brokerage Corporation
$1,050,000
Est. payment /mo
6 Beds
4 Baths
1,553 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 1,553 sqft
Price per Sqft $676
MLS Listing ID 426147156
Bedrooms 6
Full Baths 4
HOA Y/N No
Year Built 1960
Lot Size 4,000 Sqft
Acres 0.0918
Property Sub-Type Quadruplex
Property Description
This property is priced to SELL. Located at 1324 Gaynor Ave in Richmond, this multifamily property presents a compelling investment opportunity with a list price of $1,050,000, translating to roughly $210,000 per unit and $263 per square foot. Constructed in 1960, the property consists of 4 units + 1 Non conforming unit on a spacious 0.26-acre lot, totaling 4,000 square feet of building area. The asset features a diverse unit mix consisting of all market rents (3) 2 bedroom/1-bathroom unit, (1) Studio unit, and (1) Studio unit- non conforming unit. The building has an additional 2 garage parking spaces + 2 driveway parking spots. From a financial perspective, the property offers a current cap rate of 7.57% and a GRM of 9.1, with a current occupancy rate of 100%. Current scheduled rents total $9,613 per month and $115,356 Gross Rental Income! This is your opportunity to get a well priced, fully occupied, turnkey building with maximum rents. Utilities are efficiently structured, with water master-metered, electric and gas individually metered, and the landlord responsible for the house meter, providing a balanced operating framework. Disclosures & Marketing: https://app.disclosures.io/link/1324-Gaynor-Avenue-rs7bpmgg
Location
State CA
County Contra Costa
Area Richmond-North & Wes
Interior
Heating Central
Cooling None
Flooring Carpet, Vinyl, Wood
Fireplace No
Laundry Coin Operated, Common Area
Exterior
Garage Spaces 2.0
Total Parking Spaces 4
Building
Lot Description Private
Water Separate Meter
Level or Stories Two
New Construction Yes
Others
Tax ID 5291300043
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