5533 Madison Ave, Richmond, CA 94804

About this property

A prime 7-unit at 5533 Madison Ave in the Richmond Annex bordering El Cerrito, CA. The property consists of five 2-bed, 1-bath units, one 1-bed, 1-bath unit, and one 3- bed, 1-bath unit, each with an individual garage built in 1982. The units are individually metered for PG&E, keeping expenses low, and owned coin-operated laundry machines provide additional income. The owner has made consistent improvements to the property, including new landscaping, new paint, and some renovated units. Additionally, the current rents at the property are on average 38% below market creating tremendous income upside for the new owner.

Listing description from the May 2022 sale, as reported to CRMLS.

Sale history

$1,720,000

Sold May 2022 · listed $1,750,000, on market January 2022 · MLS #40977035 · Source: CRMLS

Listing Agent: ETHAN BERGER · Listing Office: NAI Northern California · Contact: 510-336-4712 · Bought with: Grant Chappell · NAI Northern California

$1,050,000

Sold October 2014 · listed $1,225,000, orig. $1,365,000, on market May 2014 · MLS #40659118 · Source: CRMLS

Listing Agent: Jack Burns · Listing Office: Security Pacific Real Estate · Contact: 510-222-8340 · Bought with: Schuyler Oliver · Red Oak Realty

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