Pending

2116 Barrett Avenue

Richmond CA, 94801

$899,999


$264.71 per sqft

Pending

8 Beds

4 Baths

3,400 sqft

Multi-family

Built in 1960

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.

224088300

MLS ID

August 9, 2024

Listed

November 22, 2024

Updated

Map

2116 Barrett Avenue
Richmond CA, 94801

Interior Features

Total Stories

2


Bedrooms

8


Total Bathrooms

4


Full Bathrooms

4


Interior Features

Storage


Laundry Description

Common Area


Floor Description

Carpet, Laminate


Fireplace

No


Cooling

Yes


Cooling Description

Wall Unit(s), None


Heating

No

Exterior/Building Features

Lot Size

0.13 Acres


Lot Features

Level


Architectual Style

Mid-Century


Roof

Tar/Gravel, Flat


Sewer

Public Sewer

School Information

School District

West Contra Costa Unified

Other Property Details

Garage

No


Parking

Carport, Covered


Parking Total

4


View

Yes


View Description

City Lights, Downtown


County

Contra Costa


Water Source

Public


Pool

No


Zoning

Residential

Listing History

Date

Event

Price

11/16/2024

Pending

10/23/2024

Price change

$899,999

-34%

Courtesy of Keller Williams Realty, Adam Garrett-Clark,
Listing Contact:  

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