
Richmond, California 94804
This fourplex presents a High-Potential Investment Opportunity with a List Price of $925,000, positioned slightly above the $915,130 Fair Market Value. Featuring a Fair Condition Rating, the property offers a strategic mix of renovated upper units and value-add lower units. With two units exempt from rent control, this Residential Income Asset provides significant flexibility for rental growth. The inclusion of covered parking and on-site laundry enhances tenant retention. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking to offset mortgage costs through rental income.
Property is moderate renovation needed.
Built in 1961, this fourplex presents a mix of conditions across its units. While the upper units have been modernized with stone countertops, stainless steel appliances, and updated flooring, the lower units remain significantly dated with original cabinetry and older fixtures. The exterior and common systems (like the new laundry) are well-maintained, but the overall age and the need for interior renovations in the remaining units to reach market standards align with the fair criteria.
Two upper units are exempt from rent control, providing significant flexibility for rental increases or owner-occupancy to maximize cash flow.
The property features a freshly painted exterior and recently refreshed upper units, allowing an investor to focus on management rather than immediate major renovations.
The inclusion of covered parking, additional storage, and on-site laundry facilities enhances tenant retention and increases the property's competitive edge in the rental market.
The property was recently sold within the past year on 2026-06-03. The sold price is $205,500.00.
Two units are subject to local rent control ordinances, which limits the owner's ability to bring all units to market rate simultaneously.
Built in 1961, the property may require future capital expenditures for aging systems such as plumbing or electrical that are not addressed by recent cosmetic updates.
Newly priced at $875,000—an excellent opportunity for an owner-occupant or multifamily investor in the heart of Richmond! This well-maintained fourplex features four spacious 2-bedroom, 1-bath units totaling approximately 3,154 square feet, offering immediate income with significant long-term upside. Two units are subject to rent control, while the two upper units are exempt, providing flexibility for future rental growth or owner occupancy. The upper units have been recently refreshed with new interior paint, and the exterior has been freshly painted, allowing the next owner to focus on maximizing returns rather than tackling major renovations. The property is individually metered for PG&E (tenant-paid utilities) and includes a new coin-operated washer and dryer, additional rear storage, and covered parking—desirable amenities that enhance tenant appeal and retention. This property offers excellent value-add potential, making it an attractive opportunity for investors seeking long-term appreciation and increased cash flow, as well as owner-occupants looking to offset their mortgage with rental income. Conveniently located near Highways 80 and 580, shopping, dining, public transportation, and everyday conveniences, this property benefits from strong commuter demand and a highly desirable rental location
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 3,154 | 2,333.5 |
| Lot Size | 5,000 | 5,840.4 |
| Price | $875.0K | $782.7K |
| Price per sq ft | $277 | $422 |
| Built year | 1961 | 1943 |
| HOA | $0 | $0 |
| Days on market | 42 | 75 |
Aug 21, 2026
$875,000
$925,000
-5% Price Drop
Initial Listing
Jul 29, 2026
$925,000
Initial Listing
Jun 3, 2026
$205,500
Public Record
Sep 1, 1999
$270,000
Public Record