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5th St, Richmond, California 94801, Richmond, 94801 - bed, bath

5th St, Richmond, California 94801 home-pic-0
ACTIVE$550,000
5th St, Richmond, California 94801
0Bed
0Bath
Sqft
5,650Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Strong Cash Flow & Cap Rate: This turnkey triplex is fully leased, generating $7,650/month ($91,800 annually) with an impressive 7% cap rate, offering immediate and substantial income.
Top Cons:
Significant Price Reduction: The property has undergone a substantial price reduction from an original list price of $900,000 to $550,000, which, while making it more attractive, may raise questions about its initial valuation or market demand.

Compared to the nearby listings

Price:$550.0K vs avg $637.5K ($-87,500)50%
Size: sqft vs avg sqft50%
Price/sqft:$0 vs avg $050%

More Insights

Built in 1910 (115 years old).
Condition: Built in 1910, this triplex has received various updates, making it 'turnkey' and income-producing. One kitchen (detached unit) features modern white shaker cabinets and stainless steel appliances, while another (duplex unit) has white cabinets but an older white gas range. Bathrooms are functional with basic fixtures and finishes, showing signs of age rather than recent renovation. Flooring appears updated in living areas. While maintained and livable, the property's age and inconsistent level of updates across units, particularly in kitchens and bathrooms, prevent it from reaching a 'good' score. It is aged but maintained through regular upkeep and occasional updates, with major components functional but showing signs of being outdated.
Year Built
1910
Close
-
List price
$550K
Original List price
$900K
Price/Sqft
$0
HOA
-
Days on market
-
Sold On
-
MLS number
41101466
Home ConditionFair
Features
View-

About this home

This turnkey Triplex with Cash Flow in a convenient location will unlock immediate income as it is fully leased, generating $7,650/month in rent—$91,800 annually—offering an impressive 7% cap rate. With low annual maintenance costs (approx. $3,600), this gated property is a rare opportunity to secure strong market rents from day one. The property features: - Two spacious 3BD/1BA units in a duplex with updates - A charming, updated 1BD/1BA, detached unit with a large bonus basement - In-unit laundry for all three residences - Secure, gated parking for approximately 6 vehicles - A sizable, secured, yard area, for tenant or owner use Conveniently located just 7 minutes from the Richmond Ferry Terminal, with fast access to San Francisco. Plus, minutes to Kaiser hospital. This property also qualifies for special loan programs. Whether you're expanding your portfolio or looking for a low-maintenance, income-producing property in a growing market, or even want to move in and offset the mortgage with rental income, 420 5th Street delivers on value, versatility, and long-term upside.

Condition Rating
Fair
Built in 1910, this triplex has received various updates, making it 'turnkey' and income-producing. One kitchen (detached unit) features modern white shaker cabinets and stainless steel appliances, while another (duplex unit) has white cabinets but an older white gas range. Bathrooms are functional with basic fixtures and finishes, showing signs of age rather than recent renovation. Flooring appears updated in living areas. While maintained and livable, the property's age and inconsistent level of updates across units, particularly in kitchens and bathrooms, prevent it from reaching a 'good' score. It is aged but maintained through regular upkeep and occasional updates, with major components functional but showing signs of being outdated.
Pros & Cons

Pros

Strong Cash Flow & Cap Rate: This turnkey triplex is fully leased, generating $7,650/month ($91,800 annually) with an impressive 7% cap rate, offering immediate and substantial income.
Turnkey & Low Maintenance: Described as 'turnkey' with low annual maintenance costs (approx. $3,600), this property minimizes immediate owner involvement and expenses, maximizing net income.
Desirable Tenant Amenities: Features in-unit laundry for all three residences, secure gated parking for approximately 6 vehicles, and a sizable secured yard area, significantly enhancing tenant appeal and property value.
Strategic Commuter Location: Conveniently located just 7 minutes from the Richmond Ferry Terminal for fast access to San Francisco and minutes to Kaiser hospital, appealing to a broad tenant base of commuters and healthcare professionals.
Versatility & Financing Options: Suitable for expanding an investment portfolio, owner-occupancy (offsetting mortgage), and qualifies for special loan programs, broadening the potential buyer pool and investment flexibility.

Cons

Significant Price Reduction: The property has undergone a substantial price reduction from an original list price of $900,000 to $550,000, which, while making it more attractive, may raise questions about its initial valuation or market demand.
Age of Property: Built in 1910, the property is over a century old. Despite mentioned 'updates,' older infrastructure (e.g., plumbing, electrical, foundation) may require significant capital expenditures in the future, potentially impacting long-term maintenance costs.
Unspecified 'Bonus Basement' Condition: The 1BD/1BA unit includes a 'large bonus basement.' Without further detail, it's unclear if this space is finished, permitted for living, or requires significant investment to be fully utilized, potentially limiting its immediate value or adding future costs.

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