4794 Blum Rd, Martinez, California 94553, Martinez, - bed, bath
ACTIVE$1,098,000
4794 Blum Rd, Martinez, California 94553
0Bed
0Bath
Sqft
10,890Lot
Year Built
1972
Close
-
List price
$1.1M
Original List price
$1.1M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
41113295
Home ConditionPoor
Features
View-
About this home
This triplex is near Highway 680 and the Highway 4 interchange. Close to the Veranda Shopping complex and shopping/restaurants on Contra Costa Blvd. All three units have been rented by the same tenants between 15-23 years. Rents are below fair rental value. Each unit has two bedrooms and one bath. They all have a small, enclosed yard. Each unit has a detached, enclosed garage. The fourth car garage is used as a storage unit for the owner. The laundry room is currently being used as storage, but it has water hookups for a potential coin-operated washer and dryer facility. Unit A has an extra driveway to house approximately 3-4 cars. The roof is only five years old. Unit A has central air.
Price History
Date
Event
Price
10/01/25
Listing
$1,098,000
Neighborhood Comparison
| Subject | Average Home | Neighbourhood Ranking (9 Listings) | |
|---|---|---|---|
| Beds | 0 | 0 | |
| Baths | 0 | 0 | |
| Square foot | 0 | 0 | |
| Lot Size | 10,890 | 6,533 | 90% |
| Price | $1.1M | $1.2M | 30% |
| Price per square foot | $0 | $0 | |
| Built year | 1972 | 9860986 | 70% |
| HOA | |||
| Days on market | 35 | 182 | 10% |
Condition Rating
Poor
Built in 1972, this triplex is 52 years old. The kitchen features very dated wood cabinets, laminate countertops, old appliances (including a 'Magic Chef' dishwasher and basic range), and linoleum flooring, indicating a lack of significant renovation for 30-50+ years. While the roof is new (5 years old) and Unit A has central air, the overall interior condition, including dated carpeting and light fixtures, suggests substantial rehabilitation is required to modernize the units and bring them to current market standards. Bathrooms are not pictured but are likely similarly outdated given the age and condition of the kitchen.
Pros & Cons
Pros
Significant Rental Upside: Rents are currently below fair market value, offering substantial potential for increased income upon lease renegotiation or tenant turnover, maximizing investment returns.
Stable Long-Term Tenancy: All three units have been occupied by the same tenants for 15-23 years, indicating a reliable income history and potentially well-maintained units by long-standing residents.
Strategic Location: Excellent proximity to major freeways (Hwy 680 & 4), the Veranda Shopping complex, and Contra Costa Blvd's dining options, enhancing tenant desirability and property value.
Recent Capital Improvement: A new roof installed just five years ago significantly reduces immediate maintenance concerns and capital expenditure for the new owner, providing peace of mind.
Value-Add Amenities & Potential: Each unit includes a detached garage and a small enclosed yard. The property also offers potential for a coin-operated laundry facility and additional parking/storage from the owner's garage, boosting income or tenant appeal.
Cons
Sub-Market Rents: The current rental income is below market value, requiring active management and potential tenant transitions to realize the property's full income potential, which may involve initial vacancy periods or negotiation.
Aging Infrastructure & Limited HVAC: Built in 1972, only one unit (Unit A) has central air, suggesting other units may lack modern HVAC systems. This could necessitate future capital expenditures for upgrades to attract higher-paying tenants.
Tenant Transition Challenges: While stable, long-term tenants may present challenges when attempting to raise rents to market value or implement property improvements, potentially leading to higher turnover costs or legal considerations if not handled carefully.