Garage-Parked Multifamily
For Sale
$950,000
1324 Gaynor Avenue, Richmond, CA 94801
1960-built 4-unit multifamily on a 0.26-acre lot with garage and driveway parking, currently 100% occupied.
Property Size1,553 SF
Lot Size0.26 Acres
Price / SF$237.50
Days on Market60
Property Features for 1324 Gaynor Avenue
General Information
Standard status
Active
Size
1,553 SF
Total Parking Spaces
4
Lot size
0.26 Acres
Property subtype
Quadruplex
Occupancy
100%
Additional Details
Cap Rate
7.57%
Multifamily Units
5
Building Details
Building Size
1,553 SF
Year Built
1960
Listing Agency:
Clearpoint Brokerage Corporation
Listed By:
Julien Goavec
(415) 375-4330
Source:
Bonniespindler
Added: Jul 15
Changed: Sep 4
Last Checked: Sep 12 at 9:06AM
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 Clearpoint Brokerage Corporation
Investment Insights
Based on property information with market context.
Constructed in 1960, this multifamily property includes four conforming units plus one nonconforming unit, totaling approximately 4,000 square feet on a 0.26-acre lot. The unit mix consists of one 2 bed/1 bath, two 1 bed/1 bath units, and two studio units (one nonconforming). Parking is supported by two garage spaces and two additional driveway spaces.
The building is currently 100% occupied. Scheduled rents total $9,613 per month, resulting in $115,356 in gross rental income. Financial highlights provided include a current cap rate of 7.57% and a GRM of 9.1.
Utilities are structured with water master-metered; electric and gas are individually metered. The landlord is responsible for the house meter, supporting a straightforward operating framework.
The building is currently 100% occupied. Scheduled rents total $9,613 per month, resulting in $115,356 in gross rental income. Financial highlights provided include a current cap rate of 7.57% and a GRM of 9.1.
Utilities are structured with water master-metered; electric and gas are individually metered. The landlord is responsible for the house meter, supporting a straightforward operating framework.
Key Highlights
- 1960‑built multifamily at 1324 Gaynor Ave, Richmond: 4 units + 1 non‑conforming unit
- 4,000 SF building on a 0.26‑acre lot, with a unit mix of 2 bed/1 bath, 1 bed/1 bath, and studio units (including 1 non‑conforming studio)
- Fully occupied: 100% current occupancy
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
$66,891
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
7.04%
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%
$1,337,820
$1.3M
Cap Rate 7%
$955,586
$955.6K
Cap Rate 9%
$743,233
$743.2K
Market Conditions
NOI Build-Up for 4,000 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
$100.8K $25.20/SF
− Vacancy
−$5.2K −$1.31/SF
EGI
$95.6K $23.89/SF
− OpEx
−$28.7K −$7.17/SF
NOI
$66.9K $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%
$1,337,820
Cap Rate 7%
$955,586
Cap Rate 9%
$743,233
Alternative Uses
Best Use
Multifamily LT 5
$955.6K
$836.1K – $1.11M
NOI $66,891 @ 7.0% cap · market cap 7.04%
Second Best
Apartment 5plus
$827.8K
$724.3K – $965.7K
NOI $57,944 @ 7.0% cap · market cap 6.10%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,543
Businesses Nearby
Explore this area
Business Placement
Demographics for 94801, CA
33,486
Population
11,012
Households
3
Avg Household Size
34
Median Age
19%
College-Educated
69%
High-School Grad
11.5 sq mi
ZIP Area
2,912
Density / Sq Mi
$75,786
Median Household Income
$40,435
Median Earnings
$1,608
Median Rent
$593,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - 1960-built 4-unit multifamily on a 0.26-acre lot with garage and driveway parking, currently 100% occupied.
Where is this quadplex located?
The property is located at 1324 Gaynor Avenue Richmond, CA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 1960‑built multifamily at 1324 Gaynor Ave, Richmond: 4 units + 1 non‑conforming unit; 4,000 SF building on a 0.26‑acre lot, with a unit mix of 2 bed/1 bath, 1 bed/1 bath, and studio units (including 1 non‑conforming studio); Fully occupied: 100% current occupancy
