1 West Richmond AvenueRichmond, CA 94801

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.

Property Information

Property type

Commercial Sale

Year built

1914

Stories

1

Living area

9,434 Sq Ft

Ownership

Trust

Days on market

90

MLS^® Listing#

ML82052646

Property Features

Cooling

None

Heating

Electric

Parking

No Garage · On Street

Foundation

Slab

Roof

Composition · Other

Security

Smoke Detector(s) · Fire Sprinkler System · Fire Alarm

Utilities

Other

Sewer

Public Sewer

Financial Details

Annual taxes

$59,535

Parcel number

558-110-005-3

Directions

Located by the railroad tracks. Off Tunnel Ave. Main points of references are the park,