Updated over 8 years ago on . Most recent reply
6-plex Cash Flowing in Richmond, CA
Hi Folks,
I am representing the owner of an off-market 6-plex building located in an appreciating area of Richmond, CA. Property is located on 6th street near Ohio Avenue.
Property is fully rented with solid, tenants. Gross rents are $4,250/month. Tenant of 15 years acts as property manager, so this can be a super easy turn-key investment.
Rents are under-market so lots of upside potential on this property!
Each apartment is around 400 sq. ft. They are each 1 bedroom.
Many updates recently done: new roof, sewer lateral, water heaters, house painting, etc. The deck and stairs need to be painted, we have a bid of $4,000 for this work.
This is a rare opportunity to own a multi-family in the Bay Area at a great value - 6% cap rate.
Asking Price: $525,000
If you are interested please email me with a clear proposal and your offer: [email protected]
P.S. Lots of people are familiar with Oakland but less so with Richmond. Richmond, has seen steady growth like many other Bay Area cities. If you are not familiar with the area you should check it out.