5801 Madison Avenue, Richmond, California 94804, Richmond, - bed, bath
ACTIVE$999,950
5801 Madison Avenue, Richmond, California 94804
0Bed
0Bath
2,714Sqft
5,770Lot
Year Built
1944
Close
-
List price
$1,000K
Original List price
$1.1M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
ML81986273
Home ConditionFair
Features
View-
About this home
Welcome to one of the best investment opportunities on the market! This quality four-plex features, you've guessed it, FOUR outstanding one-bed, one-bath units, each with its own gas and electric meters. Located down the street from El Cerrito City Hall, this property sits at a prime, yet quiet location, with easy access to shops, restaurants, freeways, and public transportation...an excellent attraction for great tenants. Whether you want to own your first investment property or you are a seasoned investor wanting to add another quality property to your portfolio, this is the right choice for you. Make this incredible four-plex yours today!
Price History
Date
Event
Price
09/28/25
Price Change
$999,950
11/10/24
Listing
$1,099,950
Neighborhood Comparison
| Subject | Average Home | Neighbourhood Ranking (11 Listings) | |
|---|---|---|---|
| Beds | 0 | 0 | |
| Baths | 0 | 0 | |
| Square foot | 2,714 | 0 | 0% |
| Lot Size | 5,770 | 5,250 | 83% |
| Price | $1,000K | $834K | 58% |
| Price per square foot | $368 | $0 | 92% |
| Built year | 1944 | 9720974 | 50% |
| HOA | |||
| Days on market | 360 | 179 | 92% |
Condition Rating
Fair
The property, built in 1944, is functional but significantly dated. The kitchens feature older wood cabinets, basic laminate countertops, and older black appliances. Heating is provided by wall-mounted gas heaters, an outdated system. Flooring consists of worn carpet and basic ceramic tile. The paint colors are also dated. No bathroom images were provided, which often suggests they are also in dated condition. While the property appears maintained and habitable, it requires substantial cosmetic updates and system modernizations to meet current quality standards and tenant expectations.
Pros & Cons
Pros
Investment Opportunity: This property is a quality four-plex, offering four distinct one-bed, one-bath units, making it an excellent income-generating asset for both new and seasoned investors.
Individual Utility Metering: Each unit is equipped with its own gas and electric meters, simplifying tenant billing and reducing the landlord's utility management burden.
Prime Location: Situated in a quiet yet accessible location near El Cerrito City Hall, with convenient access to shops, restaurants, freeways, and public transportation, enhancing tenant appeal.
Strong Tenant Attraction: The property's desirable location and practical unit setup are highlighted as an 'excellent attraction for great tenants,' suggesting consistent occupancy potential.
Recent Price Adjustment: The property has seen a significant price reduction from $1,099,950 to $999,950, potentially indicating increased value and a more competitive offering for buyers.
Cons
Property Age: Built in 1944, the property is 80 years old, which may necessitate significant capital expenditures for system upgrades, renovations, or deferred maintenance.
Limited Unit Configuration: All units are 1-bedroom, 1-bathroom, which could limit the diversity of the tenant pool and potentially restrict rental income growth compared to properties with varied unit sizes.
Lack of Financial Details: The listing description does not provide specific financial performance data such as current rental income, occupancy rates, or operating expenses, requiring extensive due diligence from potential investors.