Fourplex with New
New
For Sale
$850,000
3227 Ohio Ave, Richmond, CA 94804
Recently repaired units and shared parking accompany this income-producing residential property.
Property Size2,600 SF
Days on Market3
Property Features for 3227 Ohio Ave
General Information
Standard status
Active
Size
2,600 SF
Property subtype
Investment
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$25,871
Building Details
Building Size
2,600 SF
Year Built
1957
Stories
1
Units
4
Listed By:
Mike Khesin
(408) 412-5466
Source:
Elliman
Added: Oct 5
Changed: Oct 6
Last Checked: Oct 6 at 2:27AM
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 Mike Khesin
Investment Insights
Based on property information with market context.
This four-unit residential property was built in 1957 and has a recently installed roof. Several units have also received repairs. The property is offered together with 3235 Ohio Avenue, and the two properties share a parking lot.
Walk Score is 86, Bike Score is 76, and Transit Score is 54, reflecting the recorded walkability, bikeability, and transit access measures.
Walk Score is 86, Bike Score is 76, and Transit Score is 54, reflecting the recorded walkability, bikeability, and transit access measures.
Key Highlights
- Fourplex built in 1957
- New roof
- Several units received recent repairs
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,479
Cap Rate
5.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$869,580
$869.6K
Cap Rate 7%
$621,129
$621.1K
Cap Rate 9%
$483,100
$483.1K
Market Conditions
NOI Build-Up for 2,600 SF
Gross rent
$65.5K $25.20/SF
− Vacancy
−$3.4K −$1.31/SF
EGI
$62.1K $23.89/SF
− OpEx
−$18.6K −$7.17/SF
NOI
$43.5K $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%
$869,580
Cap Rate 7%
$621,129
Cap Rate 9%
$483,100
Alternative Uses
Best Use
Multifamily LT 5
$621.1K
$543.5K – $724.7K
NOI $43,479 @ 7.0% cap · market cap 5.12%
Second Best
Apartment 5plus
$538.1K
$470.8K – $627.7K
NOI $37,664 @ 7.0% cap · market cap 4.43%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,367
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Recently repaired units and shared parking accompany this income-producing residential property.
Where is this quadplex located?
The property is located at 3227 Ohio Ave Richmond, CA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Fourplex built in 1957; New roof; Several units received recent repairs
