10-Unit Mixed-Use
New
For Sale
$2,265,000
652 23rd, Richmond, CA 94804
Two connected buildings combine leased retail and residential units with driveway access from Grant Avenue.
Property Size6,010 SF
Price / SF$376.87
Days on Market1
Property Features for 652 23rd
General Information
Standard status
Active
Size
6,010 SF
Property subtype
Commercial
Site & Location
Traffic Count
19,863 vehicles/day
Road Access
Yes
Units
Unit Mix
2 x 3BR/1BA, 2 x 1BR/1BA, 1 x 2BR/1BA, 1 x studio
Multifamily Units
6
Amenities
beautiful back yard
over-sized 2 car garage
carport
pedestrian access via gate
Building Details
Year Built
1920
Year Renovated
2020
Buildings
2
Tenancy
Multi
Listing Agency:
PMZ Commercial Real Estate
Listed By:
David Quinonez · License #MDAVIDQU
(209) 614-5653
Source:
Showcaseproperties
Added: Oct 7
Last Checked: Oct 7 at 8:16AM
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 PMZ Commercial Real Estate
Investment Insights
Based on property information with market context.
The offering comprises two mixed-use buildings with 10 units: four retail spaces and six residential units. The residential mix includes two 3-bedroom, 1-bathroom units, two 1-bedroom, 1-bathroom units, and two 2-bedroom, 1-bathroom units. Units were updated in 2020. Two residential units are vacant.
The properties at 652/654 and 656 23rd St have pedestrian access between the buildings through a gate. Vehicle access is via a driveway off Grant Avenue, and the site also includes a backyard, an oversized two-car garage, and a carport. The buildings are on 23rd Street in Richmond, where the stated traffic count is 19,863 ADT.
The properties at 652/654 and 656 23rd St have pedestrian access between the buildings through a gate. Vehicle access is via a driveway off Grant Avenue, and the site also includes a backyard, an oversized two-car garage, and a carport. The buildings are on 23rd Street in Richmond, where the stated traffic count is 19,863 ADT.
Key Highlights
- Two buildings offered together with 10 units: 4 retail and 6 residential
- Residential mix includes two 3BR/1BA, two 1BR/1BA, and two 2BR/1BA units
- Two residential units are vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$87,061
Cap Rate
3.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,741,220
$1.7M
Cap Rate 7%
$1,243,729
$1.2M
Cap Rate 9%
$967,344
$967.3K
Market Conditions
NOI Build-Up for 6,010 SF
Gross rent
$168.0K $27.96/SF
− Vacancy
−$9.7K −$1.62/SF
EGI
$158.3K $26.34/SF
− OpEx
−$71.2K −$11.85/SF
NOI
$87.1K $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%
$1,741,220
Cap Rate 7%
$1,243,729
Cap Rate 9%
$967,344
Alternative Uses
Best Use
Apartment 5plus
$1.24M
$1.09M – $1.45M
NOI $87,061 @ 7.0% cap · market cap 3.84%
Second Best
Retail
$1.15M
$1.01M – $1.35M
NOI $80,838 @ 7.0% cap · market cap 3.57%
Theoretical Best
Multifamily LT 5
$1.44M
$1.26M – $1.68M
NOI $100,504 @ 7.0% cap · market cap 4.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
19,863 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,320
Businesses Nearby
Explore this area
Business Placement
Demographics for 94804, CA
45,108
Population
16,659
Households
2.7
Avg Household Size
37
Median Age
32%
College-Educated
78%
High-School Grad
6.5 sq mi
ZIP Area
6,940
Density / Sq Mi
$86,430
Median Household Income
$46,473
Median Earnings
$1,825
Median Rent
$618,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two connected buildings combine leased retail and residential units with driveway access from Grant Avenue.
Where is this mixed-use property located?
The property is located at 652 23rd Richmond, CA.
What is the asking price?
The asking price for this property is $2,265,000.
What are key features of this property?
This property features: Two buildings offered together with 10 units: 4 retail and 6 residential; Residential mix includes two 3BR/1BA, two 1BR/1BA, and two 2BR/1BA units; Two residential units are vacant
