Corner Duplex with Private
For Sale
$794,900
Pending
495 Key Blvd, Richmond, CA 94804
Two separate units with private yards, new wood fencing, separate meters, and a converted studio garage for additional income.
Property Size1,764 SF
Days on Market535
Property Features for 495 Key Blvd
General Information
Standard status
Pending
Size
1,764 SF
Property subtype
Multi-Family
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Amenities
EV charger
private yards
new wood fencing
BART access
bus stop
Ceiling Fan(s)
Partial
3
Wood, Linoleum
Electric Range/Cooktop
Internet Connection
Awning
Rear, Full, Wood
Front Porch
Attached Parking. Corner Lot. Fenced Yard.
2 Garage Spaces. 1 Parking Spaces. Attached Garage, Side Entry, Guest Parking.
Corner, 2 Houses / 1 Lot.
Building Details
Year Built
1939
Stories
1
Tenancy
Multi
Listing Agency:
Excel Realty, Inc
(916) 365-5696
Listed By:
Bruno Versaci
(917) 709-7324
Source:
Xome
Added: Mar 22, 2025
Changed: Sep 2
Last Checked: Sep 7 at 5:07AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Excel Realty, Inc
Investment Insights
Based on property information with market context.
This corner duplex offers a turnkey setup with two separately addressed units and their own gas and electric meters. Unit 1 includes a remodeled 2-bedroom, 1-bath layout plus a converted studio garage with a full bath. Unit 2 features a spacious 1-bedroom, 1-bath arrangement with a separate garage.
Both units benefit from large private yards with new wood fencing. The property also includes a 220V EV charger on the Unit 2 side.
Located near direct BART access with a bus stop right outside, the home is described as convenient to transit and local amenities, including El Cerrito school zoning and nearby San Pablo Shops and shopping centers.
Both units benefit from large private yards with new wood fencing. The property also includes a 220V EV charger on the Unit 2 side.
Located near direct BART access with a bus stop right outside, the home is described as convenient to transit and local amenities, including El Cerrito school zoning and nearby San Pablo Shops and shopping centers.
Key Highlights
- Duplex built in 1939 on a corner lot with attached parking and fenced yard space.
- Unit 1 (5030 Barrett Ave.) includes a remodeled 2‑bedroom, 1‑bath home plus a converted studio garage with a full bath.
- Converted studio garage adds separate income potential and has its own bathroom (can be converted back to a garage).
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
$29,499
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
3.71%
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%
$589,980
$590.0K
Cap Rate 7%
$421,414
$421.4K
Cap Rate 9%
$327,767
$327.8K
Market Conditions
NOI Build-Up for 1,764 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
$44.5K $25.20/SF
− Vacancy
−$2.3K −$1.31/SF
EGI
$42.1K $23.89/SF
− OpEx
−$12.6K −$7.17/SF
NOI
$29.5K $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%
$589,980
Cap Rate 7%
$421,414
Cap Rate 9%
$327,767
Alternative Uses
Best Use
Multifamily LT 5
$421.4K
$368.7K – $491.7K
NOI $29,499 @ 7.0% cap · market cap 3.71%
Second Best
Apartment 5plus
$365.0K
$319.4K – $425.9K
NOI $25,553 @ 7.0% cap · market cap 3.21%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
908
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?
Duplex - Two separate units with private yards, new wood fencing, separate meters, and a converted studio garage for additional income.
Where is this duplex located?
The property is located at 495 Key Blvd Richmond, CA.
What is the asking price?
The asking price for this property is $794,900.
What are key features of this property?
This property features: Duplex built in 1939 on a corner lot with attached parking and fenced yard space.; Unit 1 (5030 Barrett Ave.) includes a remodeled 2‑bedroom, 1‑bath home plus a converted studio garage with a full bath.; Converted studio garage adds separate income potential and has its own bathroom (can be converted back to a garage).
