Updated Six-Unit Apartment
For Sale
$1,225,000
3321 Barrett Avenue, Richmond, CA 94805
Well-maintained multifamily property with varied unit layouts, separate utility metering, garages, and additional off-street parking.
Property Size5,367 SF
Days on Market48
Property Features for 3321 Barrett Avenue
General Information
Standard status
Active
Size
5,367 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
4 x 2BR, 2 x 1BR
Multifamily Units
6
Building Details
Building Size
5,367 SF
Year Built
1950
Buildings
2
Units
6
Listing Agency:
Kite Hill Real Estate
Listed By:
Jatin Mehta · License #02045713
(510) 878-6800
Source:
Commercialcafe
Added: Sep 5
Changed: Oct 18
Last Checked: Oct 20 at 5:44PM
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 Kite Hill Real Estate
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Investment Insights
Based on property information with market context.
Built in 1950, this well-maintained apartment property contains six units arranged across two structures: a four-unit building with four two-bedroom residences and a duplex with two one-bedroom residences. The two-bedroom units are close to 1,000 square feet each, while the one-bedroom units are just under 800 square feet, with an average unit size of nearly 900 square feet.
Water, gas, and electricity are separately metered for each unit. Improvements include updated electrical panels and windows in many residences, along with maintained exterior features, freshly paved garage areas, and brick trim. The property includes six garages plus additional off-street parking.
Located at 3321 Barrett Avenue in Richmond's North & East district, the property is 1 mile from I-80 and 1.3 miles from Richmond BART, providing access to regional transportation connections.
Water, gas, and electricity are separately metered for each unit. Improvements include updated electrical panels and windows in many residences, along with maintained exterior features, freshly paved garage areas, and brick trim. The property includes six garages plus additional off-street parking.
Located at 3321 Barrett Avenue in Richmond's North & East district, the property is 1 mile from I-80 and 1.3 miles from Richmond BART, providing access to regional transportation connections.
Key Highlights
- Six‑unit property with four 2‑bedroom units and two 1‑bedroom units
- Built in 1950 with average unit size of nearly 900 square feet
- Separate metering for water, gas, and electricity
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,747
Cap Rate
6.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,554,940
$1.6M
Cap Rate 7%
$1,110,671
$1.1M
Cap Rate 9%
$863,856
$863.9K
Market Conditions
NOI Build-Up for 5,367 SF
Gross rent
$150.1K $27.96/SF
− Vacancy
−$8.7K −$1.62/SF
EGI
$141.4K $26.34/SF
− OpEx
−$63.6K −$11.85/SF
NOI
$77.7K $14.49/SF
Area
Richmond, CA
Vacancy
5.80%
Lease Rate
$27.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,554,940
Cap Rate 7%
$1,110,671
Cap Rate 9%
$863,856
Alternative Uses
Best Use
Apartment 5plus
$1.11M
$971.8K – $1.30M
NOI $77,747 @ 7.0% cap · market cap 6.35%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.28M
$1.12M – $1.50M
NOI $89,751 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
6
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,546
Businesses Nearby
Explore this area
Business Placement
Demographics for 94805, CA
14,958
Population
6,076
Households
2.5
Avg Household Size
41
Median Age
44%
College-Educated
86%
High-School Grad
1.9 sq mi
ZIP Area
7,873
Density / Sq Mi
$114,191
Median Household Income
$57,133
Median Earnings
$2,272
Median Rent
$738,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained multifamily property with varied unit layouts, separate utility metering, garages, and additional off-street parking.
Where is this apartment building located?
The property is located at 3321 Barrett Avenue Richmond, CA.
What is the asking price?
The asking price for this property is $1,225,000.
What are key features of this property?
This property features: Six‑unit property with four 2‑bedroom units and two 1‑bedroom units; Built in 1950 with average unit size of nearly 900 square feet; Separate metering for water, gas, and electricity
