Renovated Multifamily
For Sale
$690,000
Pending
423 Silver Ave, Richmond, CA 94805
Renovated multifamily property with in-unit appliances, owned solar, and convenient freeway access.
Property Size1,974 SF
Days on Market128
Property Features for 423 Silver Ave
General Information
Standard status
Pending
Size
1,974 SF
Property subtype
Multi Family
Building Details
Year Built
1961
Listing Agency:
HomeSmart Optima Realty, Inc
(925) 270-0520
Listed By:
Michelle Dupree · License #01714686
(510) 759-1045
Source:
Exitrealty
Added: Jun 11
Changed: Sep 2
Last Checked: Sep 15 at 5:21AM
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 HomeSmart Optima Realty, Inc
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Investment Insights
Based on property information with market context.
Renovated multifamily property in Richmond, California, with each unit configured as a three-bedroom, one-bath residence. Kitchens include stainless steel refrigerators, stoves, and dishwashers, while washers and dryers are provided within each unit. The property was built in 1961 and includes owned solar equipment.
Located at 423 Silver Ave, the property is near public schools and offers access to the freeway. The combination of renovated interiors, full appliance packages, in-unit laundry, and owned solar provides a defined residential configuration for multifamily ownership.
Located at 423 Silver Ave, the property is near public schools and offers access to the freeway. The combination of renovated interiors, full appliance packages, in-unit laundry, and owned solar provides a defined residential configuration for multifamily ownership.
Key Highlights
- Renovated multifamily property
- Each unit includes 3 bedrooms and 1 bath
- Stainless steel refrigerator, stove, and dishwasher in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,596
Cap Rate
4.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$571,920
$571.9K
Cap Rate 7%
$408,514
$408.5K
Cap Rate 9%
$317,733
$317.7K
Market Conditions
NOI Build-Up for 1,974 SF
Gross rent
$55.2K $27.96/SF
− Vacancy
−$3.2K −$1.62/SF
EGI
$52.0K $26.34/SF
− OpEx
−$23.4K −$11.85/SF
NOI
$28.6K $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%
$571,920
Cap Rate 7%
$408,514
Cap Rate 9%
$317,733
Alternative Uses
Best Use
Apartment 5plus
$408.5K
$357.5K – $476.6K
NOI $28,596 @ 7.0% cap · market cap 4.14%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$471.6K
$412.6K – $550.2K
NOI $33,011 @ 7.0% cap · market cap 4.78%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
516
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
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Renovated multifamily property with in-unit appliances, owned solar, and convenient freeway access.
Where is this multifamily property located?
The property is located at 423 Silver Ave Richmond, CA.
What is the asking price?
The asking price for this property is $690,000.
What are key features of this property?
This property features: Renovated multifamily property; Each unit includes 3 bedrooms and 1 bath; Stainless steel refrigerator, stove, and dishwasher in each unit
