Bought with Brigitte Schlatter • Schlatter Associates Inc
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Key Details
Sold Price $3,145,000
Property Type Commercial
Sub Type 5 or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 12,240 sqft
Price per Sqft $256
MLS Listing ID 41048716
Sold Date 04/16/24
HOA Y/N No
Originating Board Bridge AOR
Year Built 1975
Lot Size 0.722 Acres
Property Description
4143-4169 Fran Way, Richmond, positioned on the border of El Sobrante. This premier property comprises 12 townhome-style units with individual garages for each unit. The units features 2 bedrooms and 1.5 baths, caters to a diverse demographic, ensuring broad market appeal. Majority of the units have their own balconies increasing the rent-ability and value. The property is fully stabilized with 100% occupancy with an in-place Cap Rate of 6.17% and produces nearly a 5% cash on cash return day one. With a 10.8 GRM and $261 price per square foot, this investment is one you do not want to miss out. The property's location on the El Sobrante border and provides residents access to the amenities and charm of both Richmond hills and El Sobrante. Investors keen on maximizing returns and unlocking additional value should consider the prospect of condo conversion, turning each unit into a 2bed town-home condo (Buyer to do their own research).
Location
State CA
County Contra Costa
Interior
Heating Other
Cooling Other
Flooring Other
Fireplace No
Laundry Coin Operated, Common Area
Exterior
Handicap Access Other
Parking Type Attached, Tandem
Building
Lot Description Other, See Remarks
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