Two-Unit Duplex with Side
For Sale
$665,000
619 2nd St, Richmond, CA 94801
Each residence offers two bedrooms and one bathroom, with convenient access to transit, schools, groceries, and regional routes.
Property Size1,657 SF
Lot Size0.09 Acres
Price / SF$401.33
Days on Market110
Property Features for 619 2nd St
General Information
Standard status
Active
Size
1,657 SF
Lot size
0.09 Acres
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1908
Listing Agency:
Re/Max Synergy Group
(510) 825-8570
Listed By:
Silvia Urbina · License #01938420
(510) 825-8570
Source:
Exitrealty
Added: May 14
Changed: Aug 29
Last Checked: Aug 30 at 2:23PM
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 Re/Max Synergy Group
Investment Insights
Based on property information with market context.
Built in 1908, this duplex contains two separate residences, each arranged with two bedrooms and one bathroom. One unit is positioned upstairs and the other downstairs, creating a straightforward configuration for multigenerational living or separate occupancy. The property also includes a substantial side yard with RV access or room for multiple vehicles, along with additional storage in the rear yard.
The 353-square-meter lot is positioned near BART and the I-580 corridor, with downtown Richmond and San Francisco accessible from the area. A ferry connection to San Francisco is nearby, while schools and grocery stores are within walking distance. Gas stations are five blocks away, Kaiser is approximately a 3-minute drive, and Miller Knox Park is about 5 minutes away. Fitness and boxing facilities are also located nearby.
The 353-square-meter lot is positioned near BART and the I-580 corridor, with downtown Richmond and San Francisco accessible from the area. A ferry connection to San Francisco is nearby, while schools and grocery stores are within walking distance. Gas stations are five blocks away, Kaiser is approximately a 3-minute drive, and Miller Knox Park is about 5 minutes away. Fitness and boxing facilities are also located nearby.
Key Highlights
- Two separate units, each with 2 bedrooms and 1 bathroom
- Upstairs and downstairs unit arrangement
- 353 square meter lot
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
$27,710
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
4.17%
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%
$554,200
$554.2K
Cap Rate 7%
$395,857
$395.9K
Cap Rate 9%
$307,889
$307.9K
Market Conditions
NOI Build-Up for 1,657 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
$41.8K $25.20/SF
− Vacancy
−$2.2K −$1.31/SF
EGI
$39.6K $23.89/SF
− OpEx
−$11.9K −$7.17/SF
NOI
$27.7K $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 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%
$554,200
Cap Rate 7%
$395,857
Cap Rate 9%
$307,889
Alternative Uses
Best Use
Multifamily LT 5
$395.9K
$346.4K – $461.8K
NOI $27,710 @ 7.0% cap · market cap 4.17%
Second Best
Apartment 5plus
$342.9K
$300.0K – $400.1K
NOI $24,003 @ 7.0% cap · market cap 3.61%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,280
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?
Duplex - Each residence offers two bedrooms and one bathroom, with convenient access to transit, schools, groceries, and regional routes.
Where is this duplex located?
The property is located at 619 2nd St Richmond, CA.
What is the asking price?
The asking price for this property is $665,000.
What are key features of this property?
This property features: Two separate units, each with 2 bedrooms and 1 bathroom; Upstairs and downstairs unit arrangement; 353 square meter lot
