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 16, 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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