1324 Gaynor Avenue, Richmond, CA 94801

Property Description

This property is priced to SELL. Located at 1324 Gaynor Ave in Richmond, this multifamily property presents a compelling investment opportunity with a list price of $1,050,000, translating to roughly $210,000 per unit and $263 per square foot. Constructed in 1960, the property consists of 4 units + 1 Non conforming unit on a spacious 0.26-acre lot, totaling 4,000 square feet of building area. The asset features a diverse unit mix consisting of (1) 2 bedroom/1-bathroom, (2) 1 bedroom/1-bathroom, (1) Studio Unit, and (1) Studio Unit non conforming. The building is complemented by 2 garage parking spaces + 2 additional driveway parking spots that provide ample and convenient access for residents. From a financial perspective, the property offers a current cap rate of 8.4% and a GRM of 8.4, with a current occupancy rate of 100%. Current scheduled rents total $9,613 per month and $115,356 Gross Rental Income! This is your opportunity to get a well priced, fully occupied, turnkey building with maximum rents. Utilities are efficiently structured, with water master-metered, electric and gas individually metered, and the landlord responsible for the house meter, providing a balanced operating framework. Disclosures & Marketing: https://app.disclosures.io/link/1324-Gaynor-Avenue-rs7bpmgg