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305 Ripley Ave Richmond, CA 94801
- Multi-family (2-4 units) / Resale (MLS)
Property Details for 305 Ripley Ave, Richmond, CA 94801
Features
- Lot Size: 0.0872 acres
- Total Rooms: 4
- Room List: Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
Facts
- Year Built: 01/01/1927
- Property ID: 888505254
- MLS Number: 41061968
- Property Type: Multi-family (2-4 units)
- County: Contra Costa
- Listing Status: Active
Sale Type
This is an MLS listing, meaning the property is represented by a real estate broker, who has contracted with the home owner to sell the home.
Description
This listing is NOT a foreclosure. Market rate rents in 3 units, plus 1 vacant unit and additional storage income, make 305 Ripley an excellent investment opportunity. Monthly revenue of $6495 translates to a 4.4% 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.
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Property Brokerage:
Abio Properties
4200 Broadway
Oakland
CA
94611
Copyright © 2024 bridgeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
All information provided is deemed reliable, but is not guaranteed and should be independently verified.