Renovated Duplex with Gated
For Sale
$699,000
628 21st Street, Richmond, CA 94801
Fully leased duplex with two renovated units and secured on-site parking for residents.
Property Size1,920 SF
Days on Market55
Property Features for 628 21st Street
General Information
Standard status
Active
Size
1,920 SF
Property subtype
Duplex
Building Details
Building Size
1,920 SF
Year Built
1923
Listing Agency:
KW Advisors
Listed By:
Carol S Kim
(415) 841-3886
Source:
Bonniespindler
Added: Aug 14
Changed: Oct 3
Last Checked: Oct 5 at 10:51PM
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 KW Advisors
Investment Insights
Based on property information with market context.
This duplex contains two recently renovated 2BR/1BA units within a 1,920-square-foot building constructed in 1923. Each residence has newer interior improvements, and the property is fully occupied. Gated parking provides space for up to two cars per unit, with access controlled by a metal gate.
The 5,650-square-foot lot may offer ADU potential, subject to independent verification with the City of Richmond. The property is tenant-occupied, and showings are available by appointment only; prospective purchasers should not disturb residents.
The 5,650-square-foot lot may offer ADU potential, subject to independent verification with the City of Richmond. The property is tenant-occupied, and showings are available by appointment only; prospective purchasers should not disturb residents.
Key Highlights
- Two 2BR/1BA units with recent interior renovations
- 1,920 sq. ft. duplex building constructed in 1923
- 5,650 sq. ft. lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,108
Cap Rate
4.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$642,160
$642.2K
Cap Rate 7%
$458,686
$458.7K
Cap Rate 9%
$356,756
$356.8K
Market Conditions
NOI Build-Up for 1,920 SF
Gross rent
$48.4K $25.20/SF
− Vacancy
−$2.5K −$1.31/SF
EGI
$45.9K $23.89/SF
− OpEx
−$13.8K −$7.17/SF
NOI
$32.1K $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%
$642,160
Cap Rate 7%
$458,686
Cap Rate 9%
$356,756
Alternative Uses
Best Use
Multifamily LT 5
$458.7K
$401.4K – $535.1K
NOI $32,108 @ 7.0% cap · market cap 4.59%
Second Best
Apartment 5plus
$397.3K
$347.7K – $463.6K
NOI $27,813 @ 7.0% cap · market cap 3.98%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,158
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
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Fully leased duplex with two renovated units and secured on-site parking for residents.
Where is this duplex located?
The property is located at 628 21st Street Richmond, CA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Two 2BR/1BA units with recent interior renovations; 1,920 sq. ft. duplex building constructed in 1923; 5,650 sq. ft. lot
