$2,990,000
 $16,051 est/mo Sourced by Back At You

1 W Richmond Ave,Richmond, CA 94801

Richmond, CA 94801

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Description

nstitutional-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.

Details

MLS #41140282
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1914
Days On Site59
Listing Provided ByCENTURY 21 Masters | John L. Morra

Features

Units40
ZoningCM3
Acreage0.08

Interior

CoolingSee Remarks
HeatingSee Remarks
Heating Yes / NoYes
Cooling Yes / NoYes

Exterior

Construction MaterialsOther
Lot FeaturesStreet Level

Area Information

StateCA
CountyContra Costa
CityRichmond
Zip Code94801
Community NamePOINT RICHMOND
Listing VS Median (in POINT RICHMOND)
Price:
$2,990,000
low | high
Med:
$0
On site:
59
low | high
Med:
Sourced by Back At You

Market Activity 94801

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Contact

Learn More About This Property

David Hong

David Hong

Coldwell Banker Commercial

02207128 (760) 617-8885david.hong@cbcinland.com
StateCA
CountyContra Costa
CityRichmond
Zip Code94801
Community NamePOINT RICHMOND
Listing VS Median (in POINT RICHMOND)
Price:
$2,990,000
low | high
Med:
$0
On site:
59
low | high
Med:
Sourced by Back At You
Nearby Listings (Within 1/10 mile)
Price: $2.242M - $3.737M
sqft: 0 - 0
Nearby Listings Property ImageNearby Listings Details
1 W Richmond Avenue Property Photo 1
$2,990,000
1 W Richmond Avenue
Richmond, CA 94801
147 W Richmond Ave Property Photo 1
$3,850,000
147 W Richmond Ave
Richmond, CA 94801
Listing Updated: August 21, 2026 at 11:34:57 PM PDT