Three-Unit Residential Income
For Sale
$1,299,000
2415 Columbia Blvd, Richmond, CA 94804
Three-unit configuration includes a larger residence alongside two two-bedroom units.
Property Size4,565 SF
Price / SF$284.56
Days on Market43
Property Features for 2415 Columbia Blvd
General Information
Standard status
Active
Size
4,565 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 3BR/2BA (2291 sq ft), 2 x 2BR/2BA (1127 sq ft)
Multifamily Units
3
Additional Details
Highway Access
Yes
Building Details
Year Built
1990
Buildings
1
Listing Agency:
Realty One Group Elite
(925) 395-8026
Listed By:
Wilfredo Cuevas · License #02075597
(925) 395-8026
Source:
Exitrealty
Added: Jul 21
Changed: Aug 31
Last Checked: Aug 31 at 3:07PM
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 Realty One Group Elite
Investment Insights
Based on property information with market context.
This 1990-built triplex contains three residential units within approximately 4,565 square feet. The unit mix includes one three-bedroom, two-bath residence measuring 2,291 square feet, plus two two-bedroom, two-bath units measuring 1,127 square feet each. The larger residence is described as offering living space beyond the typical home, with a view noted in the property information.
The property is positioned near Interstate 580 and Interstate 80, providing access for commuting in and out of the area. Its three-unit layout supports an owner-occupant arrangement with additional residences on site or a fully income-oriented configuration, subject to applicable requirements.
The property is positioned near Interstate 580 and Interstate 80, providing access for commuting in and out of the area. Its three-unit layout supports an owner-occupant arrangement with additional residences on site or a fully income-oriented configuration, subject to applicable requirements.
Key Highlights
- Three‑unit residential building
- Approximately 4,565 SF across the property
- Unit mix includes one 3‑bedroom, 2‑bath residence and two 2‑bedroom, 2‑bath units
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
$76,339
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
5.88%
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%
$1,526,780
$1.5M
Cap Rate 7%
$1,090,557
$1.1M
Cap Rate 9%
$848,211
$848.2K
Market Conditions
NOI Build-Up for 4,565 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
$115.0K $25.20/SF
− Vacancy
−$6.0K −$1.31/SF
EGI
$109.1K $23.89/SF
− OpEx
−$32.7K −$7.17/SF
NOI
$76.3K $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%
$1,526,780
Cap Rate 7%
$1,090,557
Cap Rate 9%
$848,211
Alternative Uses
Best Use
Multifamily LT 5
$1.09M
$954.2K – $1.27M
NOI $76,339 @ 7.0% cap · market cap 5.88%
Second Best
Apartment 5plus
$944.7K
$826.6K – $1.10M
NOI $66,129 @ 7.0% cap · market cap 5.09%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
663
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?
Triplex - Three-unit configuration includes a larger residence alongside two two-bedroom units.
Where is this triplex located?
The property is located at 2415 Columbia Blvd Richmond, CA.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Three‑unit residential building; Approximately 4,565 SF across the property; Unit mix includes one 3‑bedroom, 2‑bath residence and two 2‑bedroom, 2‑bath units
