701 Alamo Ave, Richmond, California 94801, Richmond, 94801 - bed, bath

701 Alamo Ave, Richmond, California 94801 home-pic-0
ACTIVE$950,000
701 Alamo Ave, Richmond, California 94801
0Bed
0Bath
Sqft
5,000Lot
Year Built
1948
Close
-
List price
$950K
Original List price
$998K
Price/Sqft
$0
HOA
-
Days on market
-
Sold On
-
MLS number
41116669
Home ConditionFair
Features
Good View:
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About this home

We found 3 Cons,5 Pros. Rank: price - $950.0K(83th), sqft - 0(50th), beds - undefined(50th), baths - undefined(50th).

To access marketing package copy/paste: https://bit.ly/kitehillre. 701 Alamo Avenue presents an exceptional opportunity to acquire a well-maintained four-unit investment property offering strong and stable cash flow. The building generates $10,000 per month in rent, translating to an annual gross income of $120,000, providing immediate and consistent returns for investors seeking reliable performance in a growing submarket. The property features a desirable and balanced unit mix with (2) two-bedroom, one-bath units and (2) three-bedroom, one-bath units, appealing to a wide range of tenants. With 2,928 square feet of total living area situated on a 5,000-square-foot lot, each unit averages over 700 square feet of comfortable, well-proportioned living space — a rare combination of size and efficiency that supports strong tenant retention. Situated on a prime corner lot, the property benefits from excellent street presence, abundant natural light, and convenient access. It is also ideally located directly across from Shields-Reid Park, which is nearing completion of an $8 million renovation. The revitalized park will feature new recreation facilities and community spaces, further enhancing neighborhood appeal and long-term value for residents and investors alike.

Nearby schools

2/10
Verde Elementary School
Public,K-60.5mi
1/10
Helms Middle School
Public,7-81.3mi
3/10
Richmond High School
Public,9-120.8mi

Price History

Date
Event
Price
12/03/25
Price Change
$950,000-4.8%
11/04/25
Listing
$998,000
06/27/08
Sold
$210,000
06/30/06
Sold
$645,000
Condition Rating
Fair

The property was built in 1948, making it an older building. While described as 'well-maintained' and showing clean, functional living spaces with laminate flooring and updated vinyl windows in the provided images, there is no evidence of a recent, extensive renovation. The visible updates appear basic. Crucially, there are no images of the kitchen or bathrooms, which are key areas for assessing modern updates and condition. Given the age, it's highly probable that major systems and these critical areas, if not recently updated, would be functional but outdated, requiring minor updates or showing signs of age, aligning with a 'Fair' condition rating.
Pros & Cons

Pros

Strong & Stable Cash Flow: The property generates $10,000 per month in rent, totaling $120,000 annually, providing immediate and consistent returns for investors.
Desirable Unit Mix & Size: Features a balanced mix of (2) two-bedroom and (2) three-bedroom units, with each averaging over 700 square feet, appealing to a wide range of tenants and supporting strong retention.
Prime Corner Lot Location: Situated on a prime corner lot, benefiting from excellent street presence, abundant natural light, and convenient access.
Proximity to Revitalized Park: Located directly across from Shields-Reid Park, which is nearing completion of an $8 million renovation, enhancing neighborhood appeal and long-term value.
Well-Maintained Property: Described as a well-maintained four-unit investment property, suggesting reduced immediate capital expenditure for a new owner.

Cons

Older Building Age: Built in 1948, the property's age may lead to higher maintenance costs or require significant capital improvements in the future, despite being described as well-maintained.
Recent Price Reduction: The list price has been reduced from $998,000 to $950,000, which could indicate initial overpricing or a slower market for the property.
Low-Rated Local Schools: Nearby public schools (Elementary, Middle, High) have low ratings (1-3 out of 10), which might deter family-oriented tenants or impact long-term appreciation.

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