122 3rd St, Richmond, California 94801, Richmond, 94801 - 2 bed, 1 bath
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Richmond, California 94801
This property presents a High-Potential Investment Opportunity with a List Price of $399,000—positioned well below the $393,745 Fair Market Value (Note: Market adjustment reflects current pricing). While the home carries a Poor Condition Rating due to its 1950 build date and deferred maintenance, the 5,998 sqft lot offers significant potential for an ADU or expansion. This asset provides immediate rental income for Buy-and-Hold Investors, while the value-add potential makes it an ideal project for Fix-and-Flip Investors seeking to modernize a compact, well-located Richmond residence.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 122 3rd St Subject | $399,000* List Price | 2 | 1 | 918 | $429 | - |
A 860 860 7th St Sold | $395,000 | 3 | 1 | 1,038 | $381 | 0.9 mi |
B 634 8th St Active | $495,000 List Price | 4 | 2 | 1,100 | $450 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1950 and marketed as an 'investment opportunity' to 'add value,' this 76-year-old property likely requires a full rehab. With no mention of recent renovations to the kitchen, bath, or major systems (HVAC/Electric), and visible deferred maintenance on the exterior, it falls into the poor category based on age and the need for significant updates.
The property is currently tenant-occupied, offering investors immediate cash flow and a turnkey rental opportunity from the date of purchase.
Situated on a nearly 6,000 square foot lot, the property provides significant outdoor space and potential for future expansion or the addition of an Accessory Dwelling Unit (ADU).
The home is ideally positioned with convenient access to major freeways and public transportation, making it highly attractive for Bay Area commuters.
The assigned public schools carry low ratings (ranging from 1 to 4), which may limit the property's appeal to families and impact long-term appreciation potential.
With only 918 square feet of living space and a single bathroom, the small interior layout may restrict the pool of potential tenants or buyers seeking more spacious accommodations.
Excellent investment opportunity! Tenant-occupied 2-bedroom, 1-bath home offering immediate rental income. This charming property features a functional floor plan, spacious lot, and convenient access to major freeways, shopping, schools, and public transportation. Great opportunity to add value over time.
No exterior & parking available.
Grades K-6 • 0.2 mi
Grades K-6 • 0.7 mi
Grades K-6 • 1.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.0 |
| Baths | 1.0 | 1.0 |
| Square foot | 918 | 1,157 |
| Lot Size | 5,998 | 5,000 |
| Price | $399.0K | $681.0K |
| Price per sq ft | $435 | $503 |
| Built year | 1950 | 1943 |
| HOA | $0 | $125 |
| Days on market | 17 | 40 |
Jul 6, 2026
$399,000
Initial Listing
Jul 2, 2018
$325,000
Public Record
Apr 16, 2009
$33,000
Public Record