Four-Unit Multifamily
For Sale
$1,049,000
316 31st Street, Richmond, CA 94804
Fully occupied residential asset with private outdoor areas and multiple attached garages.
Property Size3,502 SF
Lot Size0.11 Acres
Price / SF$299.54
Days on Market9
Property Features for 316 31st Street
General Information
Standard status
Active
Size
3,502 SF
Total Parking Spaces
3
Lot size
0.11 Acres
Property subtype
Quadruplex
Occupancy
100%
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA, 1 x 2BR/1.5BA, 1 x 3BR/2BA
Multifamily Units
4
Additional Details
Gross Income
$90,804
Amenities
private outdoor space
Building Details
Building Size
3,502 SF
Year Built
1927
Buildings
1
Tenancy
Multi
Listing Agency:
KW Advisors
(415) 841-3886
Listed By:
Carol S Kim
Source:
Bonniespindler
Added: Aug 14
Changed: Aug 21
Last Checked: Aug 21 at 7:14AM
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 KW Advisors
Investment Insights
Based on property information with market context.
This four-unit multifamily property was built in 1927 and contains 3,502 square feet on a 5,000-square-foot lot. The unit mix includes two two-bedroom residences, one one-bedroom residence, and one three-bedroom residence. Each apartment has dedicated outdoor space. Attached garages serve Units 316, 320, and 322, while Unit 318 includes two full bathrooms and a substantial storage room. Unit 320 also has a bonus den. The roof has been replaced more recently than the original construction.
All four apartments are occupied. The property is positioned across from a community park in Richmond’s NE Richmond submarket. Showings are available by appointment, and the property is tenant-occupied.
All four apartments are occupied. The property is positioned across from a community park in Richmond’s NE Richmond submarket. Showings are available by appointment, and the property is tenant-occupied.
Key Highlights
- Four residential units, all currently occupied
- 3,502‑square‑foot building on a 5,000‑square‑foot lot
- Unit mix includes 3BR/2BA, two 2BR units, and 1BR/1BA
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
$58,563
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
5.58%
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%
$1,171,260
$1.2M
Cap Rate 7%
$836,614
$836.6K
Cap Rate 9%
$650,700
$650.7K
Market Conditions
NOI Build-Up for 3,502 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
$88.3K $25.20/SF
− Vacancy
−$4.6K −$1.31/SF
EGI
$83.7K $23.89/SF
− OpEx
−$25.1K −$7.17/SF
NOI
$58.6K $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%
$1,171,260
Cap Rate 7%
$836,614
Cap Rate 9%
$650,700
Alternative Uses
Best Use
Multifamily LT 5
$836.6K
$732.0K – $976.1K
NOI $58,563 @ 7.0% cap · market cap 5.58%
Second Best
Apartment 5plus
$724.7K
$634.1K – $845.5K
NOI $50,730 @ 7.0% cap · market cap 4.84%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,397
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 - Fully occupied residential asset with private outdoor areas and multiple attached garages.
Where is this quadplex located?
The property is located at 316 31st Street Richmond, CA.
What is the asking price?
The asking price for this property is $1,049,000.
What are key features of this property?
This property features: Four residential units, all currently occupied; 3,502‑square‑foot building on a 5,000‑square‑foot lot; Unit mix includes 3BR/2BA, two 2BR units, and 1BR/1BA
