75% LTV Financing Available 2520 Ohio Ave 34 Unit Apartment Building $4,399,000 ($129,382/Unit) 7.02% Cap Rate Richmond, CA 94804

2520 Ohio Avenue presents the opportunity for an investor to acquire a 34-unit multifamily residential property nestled in the heart of Richmond, California. This well-maintained two-story building is situated on a generous 29,500 square foot lot in close proximity to the Richmond BART Station. Constructed in 1942, the building totals 16,152 square feet and has a unit mix consisting of (10) Studio, (22) One-Bedroom/One-Bath, and (2) Two-Bedroom/One-Bath units. The property has 34 designated surface parking spaces which provides each unit with one parking space.
The property features a Walk Score of 74 and a Bike Score of 78, providing residents convenience as most daily errands are easily accomplished with or without a car. It is walking distance to Boorman Park, Nicholl Park, and J F Kennedy Park. The property also provides convenient access to AC Transit Bus Stops which has stops in Berkeley, Emeryville, Oakland, and San Francisco.
Richmond is a thriving East Bay community situated just thirty minutes from the bustling streets of San Francisco. Renowned for its affordability and access to San Francisco, Marin County, and the East Bay, Richmond is a destination for commuters who seek a balance between urban vibrancy and suburban tranquility.
Richmond is known for its cultural richness, with the iconic Richmond Auditorium hosting captivating concerts, while the quaint charm of Point Richmond invites exploration with its array of boutique shops and eateries. Residents benefit from its proximity to the jobs of San Francisco, the serenity of wine country, and the abundance of northern California's treasures, all easily accessible. The shortage of housing units, rent growth, strong economic fundamentals, and income upside make 2520 Ohio Avenue an excellent investment opportunity for both the cash flow and appreciation minded investor.