10-Unit Mixed-Use
New
For Sale
$2,265,000
652-656 23rd, Richmond, CA 94804
Fully occupied buildings combine leased retail and residential space under CM-3 mixed-use zoning.
Property Size6,010 SF
Price / SF$376.87
Days on Market4
Property Features for 652-656 23rd
General Information
Standard status
Active
Size
6,010 SF
Property subtype
Residential Income
Zoning
CM-3 Mixed use
Occupancy
100%
Site & Location
Traffic Count
19,863 vehicles/day
Road Access
Yes
Mixed-Use Components
retail, residential
Units
Unit Mix
2 x 3BR/1BA, 2 x 1BR/1BA, 1 x 2BR/1BA, 1 x studio
Multifamily Units
6
Additional Details
Tenant in Place
Yes
Amenities
Carpet,Vinyl,Wood,Varies by Unit
2
Varies by Unit
4
Shape Irregular,Landscape Back
Public
2.0
0.0
0.2098
Assessor Agent-Fill
Carport,Garage
Raised,Slab
Building Details
Year Built
1920
Year Renovated
2020
Buildings
2
Stories
2
Tenancy
Multi
Listing Agency:
PMZ Commercial Real Estate
Listed By:
David Quinonez · License #01853323
(209) 614-5653
Source:
Carlilerealty
Added: Oct 30
Changed: Oct 31
Last Checked: Oct 31 at 3:03AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The offering comprises two mixed-use buildings totaling 6,010 square feet, with 10 units: four commercial and six residential. The units were updated in 2020 and are fully leased. Residential layouts include studios and larger apartments; retail space occupies ground-level portions of both buildings.
A gated pedestrian connection links the buildings, while vehicle access is available from the driveway on Grant Ave. The property also includes a two-car garage, a carport, and a landscaped rear yard. The buildings are located on 23rd Street, which has reported average daily traffic of 19,863 vehicles.
A gated pedestrian connection links the buildings, while vehicle access is available from the driveway on Grant Ave. The property also includes a two-car garage, a carport, and a landscaped rear yard. The buildings are located on 23rd Street, which has reported average daily traffic of 19,863 vehicles.
Key Highlights
- Two buildings with 10 units: 4 commercial and 6 residential
- 6,010 SF total building area
- All units are leased
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.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
6
Residential units
19,863 VPD
Traffic count
100%
Occupancy
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
Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully occupied buildings combine leased retail and residential space under CM-3 mixed-use zoning.
Where is this mixed-use property located?
The property is located at 652-656 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 with 10 units: 4 commercial and 6 residential; 6,010 SF total building area; All units are leased
