Richmond, CA 94801
$2,990,000
Bed
0
Bath
0
Living Space
N/A SqFt
Year Built
1914
Lot Size
3,398 SqFt
Days
92
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.
Listing provided courtesy ofMark Caloca License 02146982 BRG Realty, John L. Morra License 206533157 CENTURY 21 Masters
Data provided by MLSListings Inc.
The following schools are assigned to 1 Richmond Avenue, Richmond, CA, 94801: - Richmond High School (High) - GreatSchools rating 5/10 - Lovonya Dejean Middle School (Middle) - GreatSchools rating 1/10 - Peres Elementary School (Elementary) - GreatSchools rating 1/10 School District: West Contra Costa Unified School District
Within a 1-2 mile radius of 1 Richmond Avenue, Richmond, CA, 94801, several parks and recreation areas are available. These include Marina Bay Park, which offers a 2.2-mile loop trail, and Rosie the Riveter Memorial Park, a site of historical significance. Additionally, Point Richmond Park provides scenic views and trails.
The address 1 Richmond Avenue is located in the Point Richmond neighborhood. This area is characterized by its proximity to the waterfront and a mix of residential and recreational spaces. The community values local businesses and aims to foster inclusivity and civic pride.
1 Richmond Avenue, Richmond, CA, 94801 has a Walk Score of 78 out of 100, indicating it is very walkable, meaning most errands can be accomplished on foot. The Transit Score is not available. Nearby transit options include bus lines such as the 607 (Richmond High - Point Richmond) and 72M (Macdonald - San Pablo). The CC Capitol Corridor at the Richmond stop is a 10-minute walk away.
This neighborhood information is AI-generated based on the property address and publicly available data. Please verify important information independently. Do not rely solely on this information for property decisions. RoostHaven makes no warranties and assumes no liability for the accuracy or completeness of AI-generated information. School boundaries, ratings, and local amenities may change over time.
The following schools are assigned to 1 Richmond Avenue, Richmond, CA, 94801: - Richmond High School (High) - GreatSchools rating 5/10 - Lovonya Dejean Middle School (Middle) - GreatSchools rating 1/10 - Peres Elementary School (Elementary) - GreatSchools rating 1/10 School District: West Contra Costa Unified School District
Within a 1-2 mile radius of 1 Richmond Avenue, Richmond, CA, 94801, several parks and recreation areas are available. These include Marina Bay Park, which offers a 2.2-mile loop trail, and Rosie the Riveter Memorial Park, a site of historical significance. Additionally, Point Richmond Park provides scenic views and trails.
The address 1 Richmond Avenue is located in the Point Richmond neighborhood. This area is characterized by its proximity to the waterfront and a mix of residential and recreational spaces. The community values local businesses and aims to foster inclusivity and civic pride.
1 Richmond Avenue, Richmond, CA, 94801 has a Walk Score of 78 out of 100, indicating it is very walkable, meaning most errands can be accomplished on foot. The Transit Score is not available. Nearby transit options include bus lines such as the 607 (Richmond High - Point Richmond) and 72M (Macdonald - San Pablo). The CC Capitol Corridor at the Richmond stop is a 10-minute walk away.
This neighborhood information is AI-generated based on the property address and publicly available data. Please verify important information independently. Do not rely solely on this information for property decisions. RoostHaven makes no warranties and assumes no liability for the accuracy or completeness of AI-generated information. School boundaries, ratings, and local amenities may change over time.
No similar listings found