4-Units | Richmond

Investment Overview

701 Alamo Avenue presents an exceptional opportunity to acquire a well-maintained four-unit investment property offering strong and stable cash flow. The building generates $8,800 per month in rent, translating to an annual gross income of $105,600, providing immediate and consistent returns for investors seeking reliable performance in a growing submarket. The property features a desirable and balanced unit mix with (2) two-bedroom, one-bath units and (2) three-bedroom, one-bath units, appealing to a wide range of tenants. With 2,928 square feet of total living area situated on a 5,000-square-foot lot, each unit averages over 700 square feet of comfortable, well-proportioned living space — a rare combination of size and efficiency that supports strong tenant retention. Situated on a prime corner lot, the property benefits from excellent street presence, abundant natural light, and convenient access. It is also ideally located directly across from Shields-Reid Park, which is nearing completion of an $8 million renovation. The revitalized park will feature new recreation facilities and community spaces, further enhancing neighborhood appeal and long-term value for residents and investors alike. Each unit is individually metered for gas, electric, and water, allowing for lower operating costs and greater management flexibility. The property also offers off-street parking for four vehicles, a highly desirable amenity in the area that adds to tenant convenience and overall demand.

Investment Highlights

• Strong Cash Flow: Generates $8,800 in monthly rent and an annual gross income of $105,600, offering immediate and consistent returns.
• Desirable Unit Mix: Includes (2) 2-bed/1-bath units and (2) 3-bed/1-bath units — ideal for a balanced tenant mix. With 2,928 sq ft of living space on a 5,000 sq ft lot, each unit averages over 700 sq ft of comfortable living area.
• Prime Corner Lot Location: Positioned on a spacious corner lot, the property benefits from excellent visibility, natural light, and convenient access.
• Across from Shields-Reid Park: Directly across the street from Shields-Reid Park, currently undergoing an $8 million renovation with new recreational amenities and community facilities — a major neighborhood enhancement that boosts long-term tenant appeal and property value.
• Individually Metered Utilities: Each unit is separately metered for gas, electric, and water, promoting efficiency and reducing ownership costs.
• Ample Off-Street Parking: Features off-street parking for four vehicles, an attractive amenity for tenants.