Fourplex with Enclosed Garage
For Sale
$930,000
100 S 21st street, Richmond, CA 94804
MULTI_FAMILY - Richmond, CA
Property Size3,288 SF
Lot Size0.09 Acres
Price / SF$282.85
Days on Market103
Property Features for 100 S 21st street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bedroom 6, Bedroom 4, Bathroom 2, Bedroom 3, Bathroom 3, Bedroom 1, Bathroom 1, Bedroom 2
Parking features
Garage
Exterior features
Front Yard
Subdivision
Walls Harbor Ctr
Lot features
Corner Lot
Directions
Mcdonald ave to 22nd street then to Ohio and on to 21street..
Standard status
Active
APN
5440610060
Size
3,288 SF
Lot size
0.09 Acres
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Building Details
Year built
1963
Number of units
4
Building materials
Stucco
Listing Agency:
Keller Williams Realty
(925) 934-2900
Listed By:
Frank Grimsley
(510) 708-3916
Added: Apr 30
Changed: Aug 4
Last Checked: Aug 10 at 7:06PM
MLS# 41133115
Copyright © 2026 Contra Costa Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This quadplex at 100 S 21st Street, Richmond is configured as four units, with each unit featuring two bedrooms and one bathroom. The property is well-maintained and includes four enclosed garage parking spaces. Exterior materials are stucco, and the home is heated with natural gas. Public sewer service is provided, supporting straightforward resident utilities.
Set on a 0.0941-acre lot with 3,288 square feet of property size, the building was constructed in 1963 and includes a front yard. The location is described as commuter-friendly, with easy access to BART, I-80, and the Richmond-SF Ferry, as well as major employment corridors throughout the East Bay.
The overall setup supports an owner-occupant scenario or a straight rental approach, offering four separate unit opportunities within a single property.
Set on a 0.0941-acre lot with 3,288 square feet of property size, the building was constructed in 1963 and includes a front yard. The location is described as commuter-friendly, with easy access to BART, I-80, and the Richmond-SF Ferry, as well as major employment corridors throughout the East Bay.
The overall setup supports an owner-occupant scenario or a straight rental approach, offering four separate unit opportunities within a single property.
Key Highlights
- Four units, each with 2 bedrooms and 1 bathroom
- 0.0941‑acre lot with 3,288 SF property size
- Four enclosed garage parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$54,984
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.91%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,099,680
$1.1M
Cap Rate 7%
$785,486
$785.5K
Cap Rate 9%
$610,933
$610.9K
Market Conditions
NOI Build-Up for 3,288 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$82.9K $25.20/SF
− Vacancy
−$4.3K −$1.31/SF
EGI
$78.5K $23.89/SF
− OpEx
−$23.6K −$7.17/SF
NOI
$55.0K $16.72/SF
Area
Richmond, CA
Vacancy
5.20%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,099,680
Cap Rate 7%
$785,486
Cap Rate 9%
$610,933
Alternative Uses
Best Use
Multifamily LT 5
$785.5K
$687.3K – $916.4K
NOI $54,984 @ 7.0% cap · market cap 5.91%
Second Best
Apartment 5plus
$680.4K
$595.4K – $793.8K
NOI $47,630 @ 7.0% cap · market cap 5.12%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
939
Businesses Nearby
Explore this area
Business Placement
Demographics for 94804, CA
45,108
Population
16,659
Households
2.7
Avg Household Size
37
Median Age
32%
College-Educated
78%
High-School Grad
6.5 sq mi
ZIP Area
6,940
Density / Sq Mi
$86,430
Median Household Income
$46,473
Median Earnings
$1,825
Median Rent
$618,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fourplex with enclosed garage parking, natural gas heating, and public sewer on a compact Richmond lot.
Where is this quadplex located?
The property is located at 100 S 21st street Richmond, CA.
What is the asking price?
The asking price for this property is $930,000.
What are key features of this property?
This property features: Four units, each with 2 bedrooms and 1 bathroom; 0.0941‑acre lot with 3,288 SF property size; Four enclosed garage parking spaces
