• Asking Price: $825,000
• Features Five (5) Units, Including One (1) 3bd/1.5bth Unit, Three (3) 2bd/1bth Units, and One (1) Non-Conforming Studio Apartment on a 5,625 SF Lot
• Key Amenities Include Four (4) Assigned Garages, Air Conditioning and Heating, a Private Backyard for Unit A, Essential Appliances such as a Refrigerator and Gas Stove, a Gated and Fenced Lot, as well as an On-Site Laundry Facility
• Recent Property Improvements Include Fresh Paint, Newer Appliances, New Carpet, and Re-Tiled Flooring
• Current Rents Roughly 30% Below Market Rate - Presenting a Huge Opportunity for Rental Upside Upon Turnover, Capital Improvement Pass Throughs, or Tenant Buy-Outs
• Prime Central Richmond Location, Within Walking Distance of Dining, Shopping, Commute Options, & Richmond BART
• Banked Rent Increases! Current Rents Have Significant Room for Growth via Annual Adjustments and One Vacant Unit, Providing the Ability to Boost NOI by Leasing the Unit at Market Rate

OFFERING SUMMARY
COUNTY: Contra Costa
BUILDING SF: 3,559 SF
LAND SF: 5,625 SF
NUMBER OF UNITS: 5
YEAR BUILT: 1984
APN: 540-200-006-0
OWNERSHIP TYPE: Fee Simple

FINANCIAL SUMMARY
PRICE: $825,000
PRICE PSF: $231.81
PRICE PER UNIT: $165,000
OCCUPANCY: 100.00 %
NOI (CURRENT): $61,025
NOI (Pro Forma): $96,074
CAP RATE (CURRENT): 7.40 %
CAP RATE (Pro Forma): 11.65 %
CASH ON CASH (CURRENT): 7.42 %
CASH ON CASH (Pro Forma): 21.58 %
GRM (CURRENT): 9.13
GRM (Pro Forma): 6.38

PROPOSED FINANCING
LOAN TYPE: Amortized
DOWN PAYMENT: $247,500
LOAN AMOUNT: $577,500
INTEREST RATE: 6.25 %
ANNUAL DEBT SERVICE: $42,669
LOAN TO VALUE: 70 %
AMORTIZATION PERIOD: 30 Years

Property Overview
• The Pinza Group is pleased to present 129 20th St in Richmond, CA, featuring five units, comprising one 3-bedroom/1,5-bathroom unit, three 2-bedroom/1-bathroom units, and one non-conforming studio apartment, all situated on a 5,625 square foot lot. Boasting essential amenities such as four assigned garages, air conditioning, heating, necessary appliances including a refrigerator and gas stove, and a secured gated and fenced lot, this property also offers the convenience of on-site washer/dryer facilities. Recent property improvements include fresh paint, newer appliances, new carpet, and re-tiled flooring.

• With current rents approximately 30% below the market rate, there is significant potential for rental upside upon turnover, capital improvement pass-throughs, tenant buy-outs, and one vacant unit, providing the ability to boost NOI by leasing the unit at the market rate. Additionally, its prime central Richmond location places it within walking distance of dining, shopping, commuter options, and the Richmond BART, enhancing its appeal and investment prospects.

Location Overview
• Nestled in Richmond, this property enjoys a prime location in a neighborhood ripe with investment potential. Richmond's rental market is thriving, with a median rent of $1,800 per month, a 10% increase from last year, and a vacancy rate below 5%, signifying high rental demand. Major employers like Chevron, Clorox, and Toyota are expanding, driving the need for rental housing due to strong job growth. Property values have surged by 11.4% in the past year, showcasing the area's appreciation potential, while a steady 1.5% annual population growth cements Richmond's appeal as an attractive hub for property investment.