12479 San Pablo Ave, Richmond, California 94805, Richmond, 94805 - 0 bed, 0 bath
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Richmond, California 94805
This Turnkey Multi-Family Asset is listed at $995,000, reflecting a strategic price point for its high-yield performance relative to the $945,839 Fair Market Value. The property generates a robust 7.44% Gross Cap Rate through four remodeled 1-bedroom units, ensuring immediate rental income within a high-demand transit corridor. While maintaining a Condition Rating of 4 due to its 1944 vintage exterior, the interiors feature modern laminate flooring and updated finishes for low-maintenance tenancy. This scalable investment is perfectly suited for Buy-and-Hold Investors or 1031 Exchange Buyers seeking a high-performing Bay Area quadruplex.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 12479 San Pablo Ave Subject | $948,000* List Price | 0 | 0 | 3,034 | $328 | - |
A 850 35th St Sold | $910,000 | 0 | 0 | 2,304 | $395 | 0.5 mi |
B 5238 Clinton Ave Sold | $830,000 | 0 | 0 | 0 | 0.2 mi | |
C 4010 Macdonald Ave Sold | $685,000 | 0 | 0 | 0 | 0.5 mi | |
D 12477 San Pablo Ave Active | $948,000 List Price | 0 | 0 | 3,034 | $312 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1944, this property shows its age primarily through the exterior stucco wear, staining, and significant cracking in the concrete driveway. While the interior images show recent cosmetic updates such as modern grey laminate flooring and fresh paint, the overall structure and likely older mechanical systems, combined with the vintage room dividers and doors, align with the 'fair' criteria of an aged property maintained through occasional updates.
The property boasts an impressive 7.44% Gross Cap Rate, offering a high-yield opportunity that is particularly competitive within the resilient Bay Area rental market.
With most units already remodeled and a history of consistent maintenance, this quadruplex is ready for immediate performance with minimal initial capital expenditure required.
The rare availability of the adjacent lot and neighboring 4-plex allows an investor to potentially double their footprint, creating significant economies of scale and portfolio growth.
Situated on San Pablo Avenue, a major thoroughfare, the property is subject to constant traffic noise and urban congestion, which may limit its appeal to noise-sensitive tenants.
Dating back to 1944, the building may possess aging core systems such as plumbing or electrical that could require more frequent long-term maintenance compared to modern builds.
Investment Opportunity: Well-Maintained 4-Plex at 12479 San Pablo Ave, Richmond, CA 94805. This solid quadruplex features four 1-bed/1-bath units, each ~750 sq ft (total ~3,000 sq ft), built in 1944 and consistently well-maintained and upgraded. Most units have been remodeled to improve desirability and to ensure reliable, low-maintenance tenancy. Priced at $948,000, it offers strong returns: Gross Cap Rate: 7.44%, and Net Cap Rate: 4.82%. Located on a high-traffic corridor with excellent access to highways, transit, and amenities in a resilient Bay Area market. Ideal for cash-flow investors or 1031 exchanges. Turnkey and ready to perform. (Please note that neighboring lot and 4-Plex at 12477 is also available for sale).
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 3,034 | 1,152 | 75% |
| Lot Size | 5,000 | 5,000 | 50% |
| Price | $948.0K | $870.0K | 75% |
| Price per sq ft | $312 | $156 | 50% |
| Built year | 1944 | 1944 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 30 | 111 | 50% |
Apr 15, 2026
$948,000
$995,000
-5% Price Drop
Initial Listing
Mar 23, 2026
$995,000
Initial Listing
Sep 17, 2012
$270,500
Public Record
Dec 13, 2005
$635,000
Public Record