381 S 34th St, Richmond, California 94804, Richmond, - bed, bath
ACTIVE$799,950
381 S 34th St, Richmond, California 94804
0Bed
0Bath
Sqft
5,000Lot
Year Built
1885
Close
-
List price
$800K
Original List price
$800K
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
41104159
Home ConditionFair
Features
View-
About this home
Great investment opportunity to own two parcels that include three units and a vacant land on Stege Avenue. A single family house and a duplex building are occupied by good tenants. All units are well maintained and rents are below market rates. Sellers added half bath to the basement that was used for storage. Designated storage areas for tenants. Also designated parking for tenants and one reserved parking for seller. The subject property is being sold in its current "AS-IS" condition.
Price History
Date
Event
Price
07/09/25
Listing
$799,950
Neighborhood Comparison
| Subject | Average Home | Neighbourhood Ranking (11 Listings) | |
|---|---|---|---|
| Beds | 0 | 0 | |
| Baths | 0 | 0 | |
| Square foot | 0 | 0 | |
| Lot Size | 5,000 | 5,000 | 50% |
| Price | $800K | $816K | 42% |
| Price per square foot | $0 | $0 | |
| Built year | 1885 | 9645974 | 8% |
| HOA | |||
| Days on market | 119 | 158 | 25% |
Condition Rating
Fair
Built in 1885, this property is significantly aged. While the listing states 'All units are well maintained,' the images reveal kitchens with very dated light wood cabinets, speckled laminate countertops, older appliances (some black, some white), and basic tile flooring, suggesting renovations that are likely 20-30 years old. The exterior also shows signs of age and wear. The property is functional and occupied by tenants, but it requires substantial cosmetic updates and likely major system upgrades due to its age, aligning with the 'fair' condition criteria for an aged home with functional but outdated components, sold 'AS-IS'.
Pros & Cons
Pros
Multi-Unit & Multi-Parcel Investment: The property comprises three income-generating units (a single-family house and a duplex) across two parcels, including vacant land, offering diverse income streams and future development potential.
Stable Occupancy with Good Tenants: Currently occupied by 'good tenants,' ensuring immediate and reliable rental income with reduced vacancy risk.
Well-Maintained Units: All units are described as 'well maintained,' suggesting a lower likelihood of immediate, substantial repair expenditures for a new owner.
Valuable Tenant Amenities: Designated tenant parking and storage areas enhance the property's appeal and contribute to tenant satisfaction and retention.
Income Growth Potential: Despite current rents being below market rates, this presents a clear opportunity for a new owner to increase rental income to market levels, boosting profitability.
Cons
Below Market Rents: Current rents are explicitly below market rates, requiring proactive rent adjustments to maximize income, which may involve tenant negotiations or turnover.
As-Is Sale Condition: The property is being sold in its current 'AS-IS' condition, transferring all responsibility for potential repairs, maintenance, or unforeseen issues to the buyer, increasing financial risk.
Historic Property Age: Built in 1885, the property's age suggests potential for outdated infrastructure (e.g., electrical, plumbing, foundation) and higher long-term maintenance or renovation costs to meet modern standards.