Four-Unit Apartment
New
For Sale
$925,000
2318 Lowell Ave, Richmond, CA 94804
Four two-bedroom residences with updated paint, tenant-paid utilities, covered parking, storage, and on-site laundry equipment.
Property Size3,154 SF
Price / SF$293.28
Days on Market4
Property Features for 2318 Lowell Ave
General Information
Standard status
Active
Size
3,154 SF
Property subtype
Investment
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Amenities
coin-operated washer and dryer
additional rear storage
Building Details
Year Built
1961
Buildings
1
Tenancy
Multi
Listing Agency:
Listed By:
Lisa Gordon
Source:
Elliman
Added: Jul 30
Changed: Jul 31
Last Checked: Aug 1 at 6:35AM
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 Lisa Gordon
Investment Insights
Based on property information with market context.
This fourplex includes four 2-bedroom, 1-bath units totaling approximately 3,154 square feet. Built in 1961, the property has refreshed interiors in the upper units, a freshly painted exterior, covered parking, additional rear storage, and a new coin-operated washer and dryer. Each unit is individually metered for PG&E, with utilities paid by tenants.
Two units are subject to rent control, while the two upper units are exempt. The property is located at 2318 Lowell Ave in Richmond, near Highways 80 and 580, shopping, dining, public transportation, and everyday conveniences. WalkScore is 73, BikeScore is 58, and TransitScore is 53.
Two units are subject to rent control, while the two upper units are exempt. The property is located at 2318 Lowell Ave in Richmond, near Highways 80 and 580, shopping, dining, public transportation, and everyday conveniences. WalkScore is 73, BikeScore is 58, and TransitScore is 53.
Key Highlights
- Four 2‑bedroom, 1‑bath units totaling approximately 3,154 square feet
- Two units subject to rent control; two upper units exempt
- Upper units refreshed with new interior paint; exterior freshly painted
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $79.5k | $25.20 |
| − Vacancy | −$4.1k | −$1.31 |
| EGI | $75.3k | $23.89 |
| − OpEx | −$22.6k | −$7.17 |
| NOI | $52.7k | $16.72 |
3,154 SF · lease $25.20/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$753.5K
$659.3K – $879.1K
NOI $52,743 @ 7.0% cap · market cap 5.70%
Second Best
Apartment 5plus
$652.7K
$571.1K – $761.5K
NOI $45,689 @ 7.0% cap · market cap 4.94%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
970
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?
Quadplex - Four two-bedroom residences with updated paint, tenant-paid utilities, covered parking, storage, and on-site laundry equipment.
Where is this quadplex located?
The property is located at 2318 Lowell Ave Richmond, CA.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Four 2‑bedroom, 1‑bath units totaling approximately 3,154 square feet; Two units subject to rent control; two upper units exempt; Upper units refreshed with new interior paint; exterior freshly painted
