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305 Ripley Ave 4 Unit Apartment Building $1,002,313 CAD ($250,578 CAD/Unit) 6.87% Cap Rate Richmond, CA 94801
EXECUTIVE SUMMARY
Motivated Sellers! 3/4 units vacant.
Updated units – All units have been tastefully updated with new kitchens and bathroom cabinetry and fixtures.
New Roof installed 2023.
All electrical sub-panels have been modernized
Sewer lateral replaced in 2020.
Potential for additional income – 2 storage spaces on-site which have historically leased for $75 a month each. New owner can implement a utility billing system on new tenants to off-set utility costs.
Rental upside - 3 Vacant units Buyer can lease the units at market rate and implement a RUBS program maximizing returns immediately
Updated units – All units have been tastefully updated with new kitchens and bathroom cabinetry and fixtures.
New Roof installed 2023.
All electrical sub-panels have been modernized
Sewer lateral replaced in 2020.
Potential for additional income – 2 storage spaces on-site which have historically leased for $75 a month each. New owner can implement a utility billing system on new tenants to off-set utility costs.
Rental upside - 3 Vacant units Buyer can lease the units at market rate and implement a RUBS program maximizing returns immediately
PROPERTY FACTS
| Price | $1,002,313 CAD | Property Subtype | Apartment |
| Price Per Unit | $250,578 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.09 AC |
| Cap Rate | 6.87% | Building Size | 1,326 SF |
| Sale Condition | High Vacancy Property | No. Stories | 2 |
| Gross Rent Multiplier | 9.05 | Year Built | 1927 |
| No. Units | 4 | Opportunity Zone |
Yes
|
| Property Type | Multifamily | ||
| Zoning | RES | ||
| Price | $1,002,313 CAD |
| Price Per Unit | $250,578 CAD |
| Sale Type | Investment |
| Cap Rate | 6.87% |
| Sale Condition | High Vacancy Property |
| Gross Rent Multiplier | 9.05 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 1,326 SF |
| No. Stories | 2 |
| Year Built | 1927 |
| Opportunity Zone |
Yes |
| Zoning | RES |
AMENITIES
SITE AMENITIES
- Smoke Free
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
1 1
Bike Score®
Very Bikeable (71)
PROPERTY TAXES
| Parcel Number | 534-212-012-7 | Improvements Assessment | $751,179 CAD |
| Land Assessment | $375,587 CAD | Total Assessment | $1,126,766 CAD |
PROPERTY TAXES
Parcel Number
534-212-012-7
Land Assessment
$375,587 CAD
Improvements Assessment
$751,179 CAD
Total Assessment
$1,126,766 CAD
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305 Ripley Ave
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