637 43rd St, Richmond, California 94805, Richmond, 94805 - bed, bath
ACTIVE$700,000
637 43rd St, Richmond, California 94805
0Bed
0Bath
Sqft
5,000Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Exceptional Income Potential: The property features a main house and a newly constructed, fully permitted Accessory Dwelling Unit (ADU) comprising two distinct units, offering significant rental income opportunities from three separate living spaces.
Top Cons:
Age of Main House & Potential for Updates: The main house was built in 1947, suggesting potential for outdated systems (electrical, plumbing, HVAC) and a likely need for modernization or maintenance to align with contemporary living standards, which could incur additional costs for a buyer.
Compared to the nearby listings
Price:$700.0K vs avg $802.5K ($-102,500)33%
Size: sqft vs avg sqft50%
Price/sqft:$0 vs avg $050%
More Insights
Built in 1947 (78 years old).
Condition: The property includes a main house (built 1947) and a newly constructed, fully permitted Accessory Dwelling Unit (ADU). The ADU features modern kitchens and bathrooms, placing it in excellent, move-in ready condition. The main house has updated laminate flooring and fresh paint in the living areas and bedrooms, and a functional but dated kitchen with a mix of older and newer appliances. However, the main house's bathroom is in poor condition and requires substantial renovation. Despite this, the significant addition of a brand new, fully equipped ADU elevates the overall property's condition to 'Good,' as it provides substantial modern, move-in ready living space, making the property functional and appealing without immediate overall renovation needs.
Year Built
1947
Close
-
List price
$700K
Original List price
$800K
Price/Sqft
$0
HOA
-
Days on market
-
Sold On
-
MLS number
41104839
Home ConditionGood
Features
Patio
View-
About this home
Welcome to 637 43rd Street in Richmond CA, what makes this property so special is the newly constructed, fully permitted accessory dwelling unit (ADU). The ADU comprises two distinct units: * The first unit comprises a fully equipped bedroom, a fully equipped kitchen, a living area, and a full bathroom. * The second unit consists of a studio with a full bathroom. The main house features two bedrooms, one bathroom, and a spacious kitchen and living room. Whether you seek additional living space for extended family, a private home office, or rental income to support your objectives, this layout offers remarkable flexibility. Situated in Richmond’s welcoming North and East neighborhoods, this property is situated on a tranquil street in close proximity to parks, shops, restaurants, and major commuter routes. It is an ideal location for individuals seeking a tranquil and comfortable residence. We invite you to visit and experience the allure of this property.
Condition Rating
Good
The property includes a main house (built 1947) and a newly constructed, fully permitted Accessory Dwelling Unit (ADU). The ADU features modern kitchens and bathrooms, placing it in excellent, move-in ready condition. The main house has updated laminate flooring and fresh paint in the living areas and bedrooms, and a functional but dated kitchen with a mix of older and newer appliances. However, the main house's bathroom is in poor condition and requires substantial renovation. Despite this, the significant addition of a brand new, fully equipped ADU elevates the overall property's condition to 'Good,' as it provides substantial modern, move-in ready living space, making the property functional and appealing without immediate overall renovation needs.
Pros & Cons
Pros
Exceptional Income Potential: The property features a main house and a newly constructed, fully permitted Accessory Dwelling Unit (ADU) comprising two distinct units, offering significant rental income opportunities from three separate living spaces.
Brand New, Permitted ADU: The ADU is newly constructed and fully permitted, ensuring modern amenities, up-to-code construction, and reduced immediate maintenance concerns for these units, adding substantial value and appeal.
Versatile Living Arrangements: The multi-unit configuration provides unparalleled flexibility for occupants, suitable for multi-generational living, owner-occupancy with rental income, or dedicated home office spaces.
Desirable Neighborhood & Accessibility: Situated on a tranquil street in Richmond's welcoming North and East neighborhoods, the location offers a peaceful residential environment with close proximity to parks, shops, restaurants, and major commuter routes.
Generous Lot Size: A 5000 sq ft lot provides ample outdoor space, which is a valuable commodity in urban/suburban areas, offering potential for gardening, recreation, or future landscaping.
Cons
Age of Main House & Potential for Updates: The main house was built in 1947, suggesting potential for outdated systems (electrical, plumbing, HVAC) and a likely need for modernization or maintenance to align with contemporary living standards, which could incur additional costs for a buyer.
Significant Price History Reductions: The property has undergone multiple substantial price reductions, dropping from an original list price of $800,000 to $700,000. This pattern may signal initial overpricing, a lack of market demand at previous price points, or underlying issues that have deterred buyers.
Discrepancy in Unit Count/Type: The property is listed as a 'Duplex' but described as having a main house plus an ADU with two distinct units, effectively creating three separate living spaces. This inconsistency could lead to confusion regarding zoning, financing, or legal occupancy, requiring clarification for potential buyers.