1 W Richmond AVE, Richmond, CA 94801
1 W Richmond AVE, Richmond, CA 94801,Video Tour
1 W Richmond AVE, Richmond, CA 94801
1 W Richmond AVE, Richmond, CA 94801
1 W Richmond AVE, Richmond, CA 94801
1 W Richmond AVE, Richmond, CA 94801
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Sam Mu

Sam Mu

+1(949) 258-2228
$ 2,990,000
Est. payment | /mo

3,397 Sqft Lot

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$ 2,990,000
Est. payment | /mo
Save Virtual Tour

3,397 Sqft Lot

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID ML82052646

HOA Y/N No

Year Built 1914

Annual Tax Amount $59,535

Lot Size 3,397 Sqft

Property Description

Institutional-grade, core-plus mixed-use acquisition opportunity in the high-barrier-to-entry submarket of Point Richmond. The historic J.G. Gerlach Building presents a stabilized asset with a robust recurring revenue profile, offering immediate cash-on-cash returns paired with significant pro-forma rental upside. The asset features a diversified revenue stream comprised of 38 residential Single Room Occupancy units generating stable, non-cyclical cash flows due to historically low structural vacancy, anchored by two fully leased ground-floor commercial retail suites (established hair and nail salons) under stable, recurring commercial lease agreements. A comprehensive capital expenditures underwriting benefit includes a recently replaced brand-new roof and a fully modernized, updated electrical distribution system, drastically mitigating near-term operational risk, reducing deferred maintenance reserves, and optimizing future Net Operating Income. Backed by a recent independent valuation of $3,900,000. Positioned in a premier, walkable coastal enclave with close proximity to Keller Beach and Miller/Knox Regional Shoreline, this asset is a highly defensible yield, immediate multi-stream cash flow, and an excellent inflation hedge with embedded organic rental growth potential.

Location

State CA

County Contra Costa

Area 699 - Not Defined

Zoning CM3

Interior

Heating Electric

Cooling None

Fireplace No

Exterior

Utilities Available Other

Roof Type Composition,Other

Present Use Commercial,Multi-Family

Building

Story 1

Water Other

Others

Tax ID 5581100053

Security Features Fire Sprinkler System

Acceptable Financing Lease Option

Listing Terms Lease Option

Virtual Tour https://my.matterport.com/show/?m=qvvRgwW1MPA

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Mark Caloca BRG Realty #02146982

Nearby Locations

Sam Mu

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(949) 258-2228

sammuteam@gmail.com

880 Roosevelt Suite 250, Irvine, California 92620, United States

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1 W Richmond AVE