Six-Unit Renovated Apartment
New
For Sale
$795,000
419 B Street, Richmond, CA 94801
Secure gated grounds, shared laundry, and updated interiors support a practical multifamily configuration.
Property Size3,782 SF
Price / SF$210.21
Days on Market3
Property Features for 419 B Street
General Information
Standard status
Active
Size
3,782 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
3 x 1BR/1BA (800 sq ft), 3 x 2BR/1BA (1200 sq ft)
Multifamily Units
6
Amenities
on-site laundry
gated entrance
Building Details
Year Built
1983
Buildings
1
Listing Agency:
Exp Realty Of California Inc.
(916) 622-5341
Listed By:
Inspired Real Estate Group Inc
(916) 622-5341
Source:
Inspiredrealestategroup
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 31 at 3:11PM
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 Exp Realty Of California Inc.
Investment Insights
Based on property information with market context.
This Richmond apartment building contains six units with a balanced mix of three 1-Bed / 1-Bath apartments of approximately 800 sq. ft. each and three 2-Bed / 1-Bath apartments of approximately 1200 sq. ft. each. Improvements include new electrical panels, fresh interior paint, professional flooring, and new carpeting in living and bedroom areas. Residents also have access to a common laundry room and shared outdoor areas. The property was built in 1983 and is enclosed by fencing with a gated entry. Tenants are responsible for all utilities.
Located at 419 B Street in Richmond, the property offers immediate access to I-580, with routes connecting to San Francisco, Oakland, and Marin County. Shopping, dining, and public transportation are also nearby, adding convenience for residents.
Located at 419 B Street in Richmond, the property offers immediate access to I-580, with routes connecting to San Francisco, Oakland, and Marin County. Shopping, dining, and public transportation are also nearby, adding convenience for residents.
Key Highlights
- Six‑unit apartment building with three 1‑Bed / 1‑Bath and three 2‑Bed / 1‑Bath units
- Three 1‑Bed / 1‑Bath units, approximately 800 sq. ft. each
- Three 2‑Bed / 1‑Bath units, approximately 1200 sq. ft. each
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
$54,786
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
6.89%
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%
$1,095,720
$1.1M
Cap Rate 7%
$782,657
$782.7K
Cap Rate 9%
$608,733
$608.7K
Market Conditions
NOI Build-Up for 3,782 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
$105.7K $27.96/SF
− Vacancy
−$6.1K −$1.62/SF
EGI
$99.6K $26.34/SF
− OpEx
−$44.8K −$11.85/SF
NOI
$54.8K $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 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%
$1,095,720
Cap Rate 7%
$782,657
Cap Rate 9%
$608,733
Alternative Uses
Best Use
Apartment 5plus
$782.7K
$684.8K – $913.1K
NOI $54,786 @ 7.0% cap · market cap 6.89%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$903.5K
$790.6K – $1.05M
NOI $63,245 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,325
Businesses Nearby
Explore this area
Business Placement
Demographics for 94801, CA
33,486
Population
11,012
Households
3
Avg Household Size
34
Median Age
19%
College-Educated
69%
High-School Grad
11.5 sq mi
ZIP Area
2,912
Density / Sq Mi
$75,786
Median Household Income
$40,435
Median Earnings
$1,608
Median Rent
$593,500
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?
Apartment building - Secure gated grounds, shared laundry, and updated interiors support a practical multifamily configuration.
Where is this apartment building located?
The property is located at 419 B Street Richmond, CA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Six‑unit apartment building with three 1‑Bed / 1‑Bath and three 2‑Bed / 1‑Bath units; Three 1‑Bed / 1‑Bath units, approximately 800 sq. ft. each; Three 2‑Bed / 1‑Bath units, approximately 1200 sq. ft. each
