305 Ripley Ave - Apartments FOR SALE


Richmond, CA 94801- Iron Triangle
$750,000 USD
925-588-9740
305 Ripley Ave, Richmond, CA for Sale
$750,000 USD
Apartments - FOR SALE
1/8
null | 6.25% Cap Rate

305 Ripley Ave
Richmond, CA 94801
Iron Triangle


HIGHLIGHTS

  • 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 offset utility costs
  • 1 Vacant unit Buyer can lease the unit at market rate

OVERVIEW

305 Ripley offers investors an excellent opportunity to acquire a well-maintained, turnkey investment property at an affordable price. This multi-unit building has been thoughtfully updated, with recent renovations including modernized kitchens, bathrooms, and electrical sub panels in all units. The roof was replaced in 2023, ensuring long-term durability, and the sewer lateral was replaced in 2020, providing peace of mind for future maintenance. Currently, there is one vacant unit, presenting an ideal opportunity for the new owner to achieve market-rate rents, select their own tenant, and potentially implement a utility billing system for added revenue. Additionally, two vacant storage spaces are available to lease, historically generating $75 per month each. This property combines strong rental potential with recent upgrades, making it a solid addition to any investor's portfolio.

FOR SALE DETAILS

PRICE

$750,000 USD

PRICE/SF

$566 USD /SF

# OF UNITS

4

PRICE/UNIT

$187,500

CAP RATE

6.25%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1927

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

3,920 SF

ZONING

RES

APN/PARCEL ID

534-212-012-7

ASK ABOUT THIS PROPERTY

Ethan BergerNAI GlobalMore Info
925-588-9740

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Ethan BergerNAI GlobalMore Info
925-588-9740

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.