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1501 Hayes, Richmond, California 94806, Richmond, 94806 - 2 bed, 1 bath

1501 Hayes, Richmond, California 94806 home-pic-0
ACTIVE$399,999
1501 Hayes, Richmond, California 94806
2Beds
1Bath
740Sqft
3,640Lot
Year Built
1943
Close
-
List price
$400K
Original List price
$400K
Price/Sqft
$541
HOA
-
Days on market
-
Sold On
-
MLS number
41118402
Home ConditionPoor
Features
View-

About this home

Possibly Over-Priced:The estimated price is 6% below the list price. We found 3 Cons,5 Pros. Rank: price - $400.0K(4th), sqft - 740(4th), beds - 2(15th), baths - 1(23th).

Charming corner home with two income-producing units! Welcome to 1501 Hayes, a rare opportunity to own an affordable property under $400,000 with incredible potential. The front home offers comfortable living space, while the rear studio provides a second source of income—perfect for a first-time buyer looking to live in one unit and rent out the other. Conveniently and centrally located, this property sits close to shopping, public transportation, and everyday conveniences. Whether you're an investor or a buyer looking for a smart starter home, 1501 Hayes delivers value, versatility, and affordability all in one. Don’t miss this opportunity to build equity while generating income!

Nearby schools

3/10
Ford Elementary School
Public,•K-6•0.4mi
1/10
Helms Middle School
Public,•7-8•0.6mi
3/10
Richmond High School
Public,•9-12•0.2mi

Price History

Date
Event
Price
12/01/25
Listing
$399,999
07/12/00
Sold
$134,000
12/15/97
Sold
$70,500
Condition Rating
Poor
Built in 1943, this property is over 80 years old with no indication of recent major renovations. The exterior appears aged and unkempt, suggesting deferred maintenance. The MLS description and AI analysis explicitly state that the home 'may require significant updates to its systems (e.g., electrical, plumbing) and general maintenance.' Without interior images, it's highly probable that the kitchen and bathroom are severely outdated and in poor condition, requiring substantial repairs and rehabilitation to meet current quality standards. While potentially livable, it likely offers a very uncomfortable living experience in its current state and demands significant investment.
Pros & Cons

Pros

Income-Generating Potential: The property features two income-producing units, including a main home and a rear studio, offering a significant advantage for investors or first-time buyers seeking to offset mortgage costs.
Affordable Price Point: Listed under $400,000, this property presents an accessible entry point into the market, appealing to budget-conscious buyers and investors.
Central & Convenient Location: Its central location provides easy access to shopping, public transportation, and everyday conveniences, enhancing its appeal to tenants and residents.
Corner Lot Advantage: As a charming corner home, it likely benefits from increased natural light, potentially more privacy, and enhanced curb appeal.
Equity Building Opportunity: The combination of affordability and income potential offers a strong foundation for building long-term equity, especially for a starter home or investment.

Cons

Limited Square Footage: With only 740 sqft for two units (2 beds, 1 bath total), the living spaces are likely very compact, which may limit comfort and appeal for some occupants.
Age of Property: Built in 1943, the home is older and may require significant updates to its systems (e.g., electrical, plumbing) and general maintenance, potentially incurring additional costs for a buyer.
Potential Zoning/Permit Discrepancy: Described as having 'two income-producing units' but listed as a 'Single Family Residence,' there's a potential discrepancy regarding legal zoning or permitting for the second unit, which requires thorough due diligence.

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