6 bedroom house for sale

Overview

Price reduced, now 5.94% cap, 11.4 GRM, $379/ft. Excellent value for 12 units. 400 28th Avenue consists of 12 units and 11 car parking located at the corner of 28th Avenue and Clement in the Central Richmond. The property was seismically retrofitted (2014), has updated fire alarms (2024), and had the underground storage tank removed. The former boiler has been replaced with two 100-gallon hot water heaters and electric heaters. The apartments consist of six (6) 1-bedroom units and six (6) studio units. Two studios and two parking spots will be delivered vacant. $279, 000 of annual income. 400 28th Avenue offers investors a clean, easy-to-manage asset in a great neighborhood with cash flow and upside.