116 Barrett Ave, Richmond, CA 94801
8 Unit Apartment Building | $1,345,000 ($168,125/Unit) | 8.01% Cap Rate | Richmond, CA 94801
For Sale
Active
20 pictures
Asking Price $1,345,000
- Property Type
-
Multifamily
- Square Feet
- 6,486 SF
Listing Contacts
- Property Info
Property Overview
116 W Barrett Avenue is an eight unit multifamily property, well located in Richmond, CA. The building is comprised of five 3bd/1bth, one 2bd/2bth, one 2bd/1bth, and one 1bd/1bth, each separately metered for gas & electricity. One unit will be delivered vacant, providing an ideal opportunity for owner-occupants or immediate tenant placement at market rate. The property has been exceptionally maintained over the years, and has received numerous recent improvements by the current owner including: updated kitchens/bathrooms, carpet/tile, interior paint, and upgraded appliances. The property features dual pane windows throughout, a newer roof, and a private central courtyard which is protected by a private gate. The property is well secured with security gates, and boasts a 1:1 parking ratio.
The Iron Triangle neighborhood sits in the heart of Central Richmond, California. To the south, Berkeley and Oakland lie roughly 10 miles away via Interstate 580. The MacDonald 80 Shopping Center lies roughly three miles east of the neighborhood.
The Iron Triangle neighborhood sits in the heart of Central Richmond, California. To the south, Berkeley and Oakland lie roughly 10 miles away via Interstate 580. The MacDonald 80 Shopping Center lies roughly three miles east of the neighborhood.
Property Details
- Class
- C
- Year Built/Renovated
- 1923/2019
- Stories
- 2
- Property Subtype
- Storefront Retail/Residential, Manufactured Housing/Mobile Home, Dormitory
- Lot Size (sq. ft)
- 5,227 SF
- Units
- 8
Highlights
- Fully Upgraded Exterior with Paint, Stucco, Facade and More!
- Updated Kitchens & Bathrooms, Fresh Interior Paint, New Fencing, and Dual Pane Windows Throughout
- Prime Richmond Location, in Close Proximity to Restaurants, Retail Outlets, and Interstate 580
- 8.01% Current Cap & 12.0 Market Cap / 8.30 Current GRM & 6.15 Market GRM
- Current Rents Approximately 30% Below Market Rate, Providing Huge Potential for Rental Upside
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