2122 Barrett AVE, Richmond, CA 94801 – 224088300 - Cher Team

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Pending

Purchase Type For Sale

Square Footage 3,575 sqft

Price per Sqft $251

MLS Listing ID 224088300

HOA Y/N No

Originating Board MLS Metrolist

Year Built 1960

Lot Size 5,624 Sqft

Acres 0.1291

Lot Dimensions W Contra Costa

Property Description

This isn't just a strong investment opportunity, it could be your new home. This International Style 4-plex in the heart of Richmond with hints of practical Postmodernism, currently has 1 unit vacant. Whether you leverage Fannie Mae's recent lending changes to put 5% down and use 75% of the rental income ($102,000 annually) from the other units towards your qualifying income for the loan when you move in, or you fill the unit at market rate ($2,500) and benefit from it as an investment property, this property is a savvy move for a buy-and-hold investor. It's very clear that property values in Richmond are on the rise (New Ferry terminal to SF) and objective projections for equity appreciation are in the 30-40% range for the years (3-5) ahead. The property income opportunities include a laundry room (currently monitized by lease) 4 storage closets per unit and a carport for 1-2 off-street covered parking spaces per unit. All units are 2 bed 1 bath, and have been remodeled within the last 5 years. A detached 10'X10' Shed onsite opens up other possibilities. BART, shopping and major freeways are all blocks away. Don't let this one pass you by. The opportunity to bet on Richmond and yourself with sweet creamy cash flow on top is right in front of you.

Location

State CA

County Contra Costa

Area Richmond-North & Wes

Direction Barrett ave and 21st street.

Interior

Interior Features Storage Area(s)

Heating Separate

Cooling Wall Unit(s),None

Flooring Carpet,Laminate

Window Features Dual Pane Full

Laundry Coin Operated,Washer/Dryer Leased

Exterior

Exterior Feature Fenced Yard,Yard Space,Play Area

Garage Carport,Covered

Carport Spaces 4

Utilities Available Natural Gas Connected,City,Electric

Water Access Desc Meter Available,Water District,Public

View City Lights,Downtown

Roof Type Tar/Gravel,Flat

Topography Level

Total Parking Spaces 4

Building

Lot Description Sidewalk

Story 2

Foundation Raised

Sewer Public Sewer

Water Meter Available,Water District,Public

Architectural Style Mid-Century

Level or Stories Two

Schools

Elementary Schools West Contra Costa Unified

Middle Schools West Contra Costa Unified

High Schools West Contra Costa Unified

School District Contra Costa

Others

Senior Community No

Tax ID 514-110-003-1

Special Listing Condition None