Richmond Multifamily Investment
For Sale
$1,595,000
Pending
19Th St, Richmond, CA 94801
Well-maintained 9-unit apartment building in Richmond, CA.
Property Size5,966 SF
Lot Size0.19 Acres
Days on Market337
Property Features for 19Th St
General Information
Standard status
Pending
Size
5,966 SF
Lot size
0.19 Acres
Property subtype
Commercial
Building Details
Year Built
1961
Listing Agency:
WINKLER REAL ESTATE GROUP
(510) 528-2200
Listed By:
TOM COBLE
Source:
Corcoran
Added: Sep 4, 2025
Changed: Jul 6
Last Checked: Jul 23 at 8:47AM
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 WINKLER REAL ESTATE GROUP
Investment Insights
Based on property information with market context.
Located in a convenient Richmond neighborhood, this well-maintained 9-unit apartment building presents an exceptional investment opportunity in the East Bay rental market. The property is in close proximity to BART, freeways, shopping, and local amenities. It features a mix of eight 2-bedroom/1-bath units and one studio, appealing to a broad tenant base. Each unit includes one gated parking space. A soft-story seismic retrofit was completed with permits in 2025, and the sewer lateral is in full compliance. An on-site coin-operated laundry facility provides convenience for residents and supplemental income. Half of the units have been upgraded, while others offer value-add potential through renovation. The property delivers reliable income and long-term appreciation potential.
Key Highlights
- 9‑unit apartment building featuring a desirable mix of units.
- Completed soft‑story seismic retrofit with permits in 2025.
- Sewer lateral in full compliance.
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
$86,424
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
5.42%
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%
$1,728,480
$1.7M
Cap Rate 7%
$1,234,629
$1.2M
Cap Rate 9%
$960,267
$960.3K
Market Conditions
NOI Build-Up for 5,966 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
$166.8K $27.96/SF
− Vacancy
−$9.7K −$1.62/SF
EGI
$157.1K $26.34/SF
− OpEx
−$70.7K −$11.85/SF
NOI
$86.4K $14.49/SF
Area
Richmond, CA
Vacancy
5.80%
Lease Rate
$27.96 /SF/Yr
Expense Ratio
45.00%
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%
$1,728,480
Cap Rate 7%
$1,234,629
Cap Rate 9%
$960,267
Alternative Uses
Best Use
Apartment 5plus
$1.23M
$1.08M – $1.44M
NOI $86,424 @ 7.0% cap · market cap 5.42%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.43M
$1.25M – $1.66M
NOI $99,768 @ 7.0% cap · market cap 6.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,164
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 9-unit apartment building in Richmond, CA.
Where is this apartment building located?
The property is located at 19Th St Richmond, CA.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: 9‑unit apartment building featuring a desirable mix of units.; Completed soft‑story seismic retrofit with permits in 2025.; Sewer lateral in full compliance.
