305 Ripley Ave Active

Richmond,CA 94801

$ 895000

- Bed

- Bath

2102 SqFt


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

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

Laundry No Hookups

Building

Lot Description Level

Water Public

Schools

School District West Contra Costa (510) -231-1100,West Contra Costa (510) -231-1100

View More
Favorite Go Tour