Duplex with Storage
For Sale
$725,000
607 Verde Avenue, Richmond, CA 94801
Both residences have open kitchen-living areas, laminate flooring, and dedicated laundry space.
Property Size1,848 SF
Price / SF$392.32
Days on Market143
Property Features for 607 Verde Avenue
General Information
Standard status
Active
Size
1,848 SF
Property subtype
2 Houses on Lot
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
storage sheds
wraparound yard
dedicated laundry areas
Building Details
Building Size
1,848 SF
Year Built
1990
Listing Agency:
Side
Listed By:
Outpost Real Estate · License #01411471
(415) 879-8311
Source:
Outpostrealestate
Added: Jun 12
Changed: Oct 30
Last Checked: Oct 30 at 2:32PM
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 Side
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Investment Insights
Based on property information with market context.
This Richmond duplex contains two residences, each with three bedrooms and two bathrooms, for a combined total of six bedrooms and four bathrooms. The 1,848-square-foot property was built in 1990. Each unit has an open kitchen and living area, laminate flooring, and a dedicated laundry area. Storage sheds, a wraparound yard, and a driveway with off-street parking serve the property.
North Richmond Ballpark and Shields-Reid Park are nearby. The listing projects a cap rate of ~6.95%.
North Richmond Ballpark and Shields-Reid Park are nearby. The listing projects a cap rate of ~6.95%.
Key Highlights
- Two units, each with 3 bedrooms and 2 bathrooms
- 1,848 square feet; built in 1990
- Open kitchen and living areas, laminate flooring, and separate laundry areas in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,904
Cap Rate
4.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$618,080
$618.1K
Cap Rate 7%
$441,486
$441.5K
Cap Rate 9%
$343,378
$343.4K
Market Conditions
NOI Build-Up for 1,848 SF
Gross rent
$46.6K $25.20/SF
− Vacancy
−$2.4K −$1.31/SF
EGI
$44.1K $23.89/SF
− OpEx
−$13.2K −$7.17/SF
NOI
$30.9K $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%
$618,080
Cap Rate 7%
$441,486
Cap Rate 9%
$343,378
Alternative Uses
Best Use
Multifamily LT 5
$441.5K
$386.3K – $515.1K
NOI $30,904 @ 7.0% cap · market cap 4.26%
Second Best
Apartment 5plus
$382.4K
$334.6K – $446.2K
NOI $26,770 @ 7.0% cap · market cap 3.69%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
523
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have open kitchen-living areas, laminate flooring, and dedicated laundry space.
Where is this duplex located?
The property is located at 607 Verde Avenue Richmond, CA.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Two units, each with 3 bedrooms and 2 bathrooms; 1,848 square feet; built in 1990; Open kitchen and living areas, laminate flooring, and separate laundry areas in both units
