Four-Unit Apartment
For Sale
$875,000
2318 Lowell Avenue, 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$277.43
Days on Market79
Property Features for 2318 Lowell Avenue
General Information
Standard status
Active
Size
3,154 SF
Property subtype
Multi Family
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:
Trust Properties USA, Inc
(800) 579-4380
Listed By:
Lisa Gordon · License #01310039
(925) 895-4059
Source:
Exitrealty
Added: Jul 30
Changed: Oct 10
Last Checked: Oct 9 at 5:29PM
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 Trust Properties USA, Inc
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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
Estimated NOI and Cap Rate
NOI / Yr
$52,743
Cap Rate
6.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,054,860
$1.1M
Cap Rate 7%
$753,471
$753.5K
Cap Rate 9%
$586,033
$586.0K
Market Conditions
NOI Build-Up for 3,154 SF
Gross rent
$79.5K $25.20/SF
− Vacancy
−$4.1K −$1.31/SF
EGI
$75.3K $23.89/SF
− OpEx
−$22.6K −$7.17/SF
NOI
$52.7K $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 Rate 5%
$1,054,860
Cap Rate 7%
$753,471
Cap Rate 9%
$586,033
Alternative Uses
Best Use
Multifamily LT 5
$753.5K
$659.3K – $879.1K
NOI $52,743 @ 7.0% cap · market cap 6.03%
Second Best
Apartment 5plus
$652.7K
$571.1K – $761.5K
NOI $45,689 @ 7.0% cap · market cap 5.22%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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 Avenue Richmond, CA.
What is the asking price?
The asking price for this property is $875,000.
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
