6-Units | Richmond

Richmond, California, epitomizes the essence of opportunity in the dynamic world of real estate investment, particularly in the realm of multifamily housing. Situated within the vibrant San Francisco Bay Area, Richmond boasts a strategic location that offers investors a gateway to lucrative ventures in the thriving rental market. With its proximity to major employment hubs such as San Francisco and Oakland, Richmond presents an enticing prospect for investors seeking to capitalize on the demand for high-quality apartment buildings. Richmond's real estate landscape is as diverse as its cultural tapestry, offering a plethora of investment options tailored to meet the needs and preferences of discerning investors. Whether it's the historic charm of the city's quaint neighborhoods or the modern allure of waterfront developments, Richmond offers a spectrum of opportunities for investors to explore. With a burgeoning population and a robust economy supported by industries ranging from manufacturing to technology, the city's rental market remains robust, ensuring steady returns on investment for savvy investors. Beyond its economic potential, Richmond offers residents and investors a vibrant quality of life enriched by a wealth of recreational, cultural, and culinary amenities. From exploring the scenic trails of Point Pinole Regional Shoreline to savoring the diverse flavors of its burgeoning culinary scene, Richmond captivates with its endless array of experiences. For real estate investors with an eye for opportunity, Richmond, California, represents a compelling destination poised for sustained growth and prosperity in the multifamily housing sector.3321 Barrett Ave is a well-maintained 6-unit building built in the 1950s, offering an attractive investment opportunity. The property consists of a four-unit building with four 2-bedroom units, along with a duplex featuring two 1-bedroom units. Each unit offers ample space, with the 2-bedroom units close to 1,000 square feet and the 1-bedroom units just under 800 square feet. On average, each unit spans nearly 900 square feet. The building is separately metered for water, gas, and electricity, which helps keep operating expenses low for the new owner. Currently, the property generates over $10,000 per month with over 30% upside in gross rents and nearly 50% upside in net operating income. Many of the units have been recently updated, including upgrades to electrical panels and windows, while the exterior has been meticulously maintained with freshly paved garage areas and well-kept brick trim. The result is a perfect blend of vintage charm and modern living. The property is also well-equipped for tenants, with six garages and additional off-street parking spaces available. Its prime location in the desirable North & East district of Richmond, California, further enhances its appeal. Located just 1 mile from the I-80 freeway and 1.3 miles from Richmond Bart, this location offers convenient access to transportation, making it highly attractive to renters and providing a thriving rental market with strong demand.