Historic Duplex with
New
For Sale
$799,000
213 Nicholl Ave, Richmond, CA 94801
MULTI_FAMILY - Richmond, CA
Property Size1,836 SF
Lot Size0.06 Acres
Price / SF$435.19
Days on Market2
Property Features for 213 Nicholl Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
On Street
Exterior features
Low Maintenance, Garden
Appliances
Gas Water Heater
Subdivision
POINT RICHMOND
Lot features
Front Yard
Standard status
Active
APN
5581620084
Size
1,836 SF
Lot size
0.06 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1904
Flooring type
Laminate, Linoleum, Tile
Building materials
Siding - Stucco
Listing Agency:
RE/MAX Accord · RE/MAX International
(510) 339-4100
Listed By:
Michael Hughey · License #01099878
(510) 915-3235
Added: Aug 10
Last Checked: Aug 11 at 7:06PM
MLS# 41144510
Copyright © 2026 bridgeMLS. 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.
Built in 1904, this duplex contains two tenant-occupied units within approximately 1,836 square feet on a 0.0551-acre parcel. The property has stucco siding, a garden, and low-maintenance exterior features. Interior finishes include laminate, linoleum, and tile flooring, while a gas water heater serves the building. Water is supplied publicly, and the property connects to public sewer service.
The property is in Point Richmond, near restaurants, shops, pubs, Hotel Mac, schools, markets, and a weekend farmers market. Outdoor destinations mentioned for the area include the Bayshore Trail, Keller Beach, and Miller Knox shoreline access, with opportunities for trails, hiking, boating, and fishing nearby.
The property is in Point Richmond, near restaurants, shops, pubs, Hotel Mac, schools, markets, and a weekend farmers market. Outdoor destinations mentioned for the area include the Bayshore Trail, Keller Beach, and Miller Knox shoreline access, with opportunities for trails, hiking, boating, and fishing nearby.
Key Highlights
- Two‑unit duplex with both units tenant occupied
- 1,836 square feet on a 0.0551‑acre parcel
- Built in 1904 with stucco siding
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
$30,703
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
3.84%
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%
$614,060
$614.1K
Cap Rate 7%
$438,614
$438.6K
Cap Rate 9%
$341,144
$341.1K
Market Conditions
NOI Build-Up for 1,836 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
$46.3K $25.20/SF
− Vacancy
−$2.4K −$1.31/SF
EGI
$43.9K $23.89/SF
− OpEx
−$13.2K −$7.17/SF
NOI
$30.7K $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%
$614,060
Cap Rate 7%
$438,614
Cap Rate 9%
$341,144
Alternative Uses
Best Use
Multifamily LT 5
$438.6K
$383.8K – $511.7K
NOI $30,703 @ 7.0% cap · market cap 3.84%
Second Best
Apartment 5plus
$379.9K
$332.5K – $443.3K
NOI $26,596 @ 7.0% cap · market cap 3.33%
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
Location Intelligence
Trade Area within ½ mile
491
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?
Duplex - Two tenant-occupied units feature low-maintenance exterior elements and public water and sewer service.
Where is this duplex located?
The property is located at 213 Nicholl Ave Richmond, CA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Two‑unit duplex with both units tenant occupied; 1,836 square feet on a 0.0551‑acre parcel; Built in 1904 with stucco siding
