1 W Richmond AveRichmond, CA 94801
POINT RICHMOND · Contra Costa County
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.
Property Information
- Property type
- Residential Income
- Sub-type
- Multi Family
- Year built
- 1914
- Living area
- 9,434 Sq Ft
- Lot size
- 0.08 acres
- Zoning
- CM3
- Days on market
- 89
- MLS® Listing#
- 41140282
Property Features
- Cooling
- Other
- Heating
- Other
- Flooring
- Other
- Basement
- Other · Storage Space
- Lot features
- Level
- Sewer
- Public Sewer
Financial Details
- HOA
- None
- Parcel number
- 5581100053
Listing Courtesy: CENTURY 21 Masters - 5102574441
Presented by: John L. Morra
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