627 Richardson St - Apartments FOR SALE


Martinez, CA 94553
$1,249,000 USD
510-725-4775
627 Richardson St, Martinez, CA for Sale
$1,249,000 USD
Apartments - FOR SALE
1/21
null | 5.45% Cap Rate

627 Richardson St
Martinez, CA 94553


HIGHLIGHTS

  • Freshly Painted & Upgraded Exterior and Two Units Delivered Vacant
  • Coin-Operated Laundry On-Site for Increased Rental Income, as well as a Covered Carport Boasting 1:1 Off-Street Parking
  • Current Rents are Roughly 30% Below Market Rate - Presenting an Opportunity for Significant Rental Upside & No City Rent Control
  • Prime Martinez Location - Blocks from the Martinez Marina and Near Coffee Shops, Restaurants, Hospital, Schools, Parks, and Public Transportation

OVERVIEW

This prime investment opportunity at 627 Richardson Street in Martinez, CA, features six 1-bedroom, 1-bath units on a 5,000 sq. ft. lot. With a stable tenant base and two vacant units, there is potential for owner occupancy or leasing at market rent. Current rents are approximately 30% below market, offering significant upside through turnover, capital improvements, or tenant buyouts. Situated in an area free from city rent control, this property is ideally located just blocks from the Martinez Marina and near popular coffee shops, restaurants, hospitals, schools, parks, and public transportation. The property just underwent an exterior facade and paint project, significantly increasing the aesthetic appeal. Situated along the southern shore of the Carquinez Strait in the San Francisco Bay Area, Martinez boasts unique architecture, with downtown shops and restaurants maintaining an early 20th-century charm. The city was once home to John Muir, “The Father of Our National Park System,” and his influence can be felt at the John Muir National Historic Site, as well as in Martinez’s 16 city parks and marina. Residents enjoy outdoor activities at the popular Martinez Regional Shoreline and can engage in local nightlife at spots like Armando’s for live music or the California Magic Dinner Theatre. With Amtrak, BART, and easy access to I-680 and State Route 4, Martinez offers seamless connectivity to the wider Bay Area.

FOR SALE DETAILS

PRICE

$1,249,000 USD

PRICE/SF

$343 USD /SF

# OF UNITS

6

PRICE/UNIT

$208,167

CAP RATE

5.45%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Manufactured Housing/Mobile Housing, Office/Residential, Dormitory

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1955

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

5,009 SF

ZONING

-

APN/PARCEL ID

373-221-009

ASK ABOUT THIS PROPERTY

Steven PinzaPinza GroupMore Info
510-725-4775

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Steven PinzaPinza GroupMore Info
510-725-4775

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.