Duplex Near
For Sale
$479,000
2031-2033 Chanslor Avenue, Richmond, CA 94801
Two-unit residential property built in 1939 near a BART station.
Property Size1,850 SF
Price / SF$258.92
Days on Market409
Property Features for 2031-2033 Chanslor Avenue
General Information
Standard status
Active
Size
1,850 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Building Details
Year Built
1939
Listing Agency:
Simple Consulting Corporation
(510) 890-8330
Listed By:
Jia Liang · License #01986478
(510) 890-8330
Source:
Exitrealty
Added: Jul 19, 2025
Changed: Aug 30
Last Checked: Aug 30 at 11:45PM
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 Simple Consulting Corporation
Investment Insights
Based on property information with market context.
This duplex at 2031-2033 Chanslor Avenue contains 1,850 square feet and was built in 1939. The property is configured as two residential units at a single address.
A BART station is within walking distance, while a post office is located directly across the street. The property is in Richmond, California 94801.
A BART station is within walking distance, while a post office is located directly across the street. The property is in Richmond, California 94801.
Key Highlights
- Duplex at 2031‑2033 Chanslor Avenue
- 1,850‑square‑foot residential property
- Built in 1939
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
$30,937
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
6.46%
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%
$618,740
$618.7K
Cap Rate 7%
$441,957
$442.0K
Cap Rate 9%
$343,744
$343.7K
Market Conditions
NOI Build-Up for 1,850 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
$46.6K $25.20/SF
− Vacancy
−$2.4K −$1.31/SF
EGI
$44.2K $23.89/SF
− OpEx
−$13.3K −$7.17/SF
NOI
$30.9K $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%
$618,740
Cap Rate 7%
$441,957
Cap Rate 9%
$343,744
Alternative Uses
Best Use
Multifamily LT 5
$442.0K
$386.7K – $515.6K
NOI $30,937 @ 7.0% cap · market cap 6.46%
Second Best
Apartment 5plus
$382.8K
$335.0K – $446.7K
NOI $26,799 @ 7.0% cap · market cap 5.59%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,126
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property built in 1939 near a BART station.
Where is this duplex located?
The property is located at 2031-2033 Chanslor Avenue Richmond, CA.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: Duplex at 2031‑2033 Chanslor Avenue; 1,850‑square‑foot residential property; Built in 1939
