Richmond, CA 94801
$2,990,000
Bed
0
Bath
0
Living Space
N/A SqFt
Year Built
1914
Lot Size
3,398 SqFt
Days
105
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.
- Kennedy High School (High) - GreatSchools rating 5/10 - Adams Middle School (Middle) - GreatSchools rating 4/10 - Lincoln Elementary School (Elementary) - GreatSchools rating 4/10 School District: West Contra Costa Unified School District
Nicholl Park, located at Macdonald Ave & 33rd St, is a 21-acre park featuring a playground, picnic area, BBQ facilities, lawn areas, baseball/softball fields, lawn bowling, tennis courts, and a soccer field. Boorman Park and Memorial Park are also nearby recreational areas.
The property is located in the North & East neighborhood of Richmond. This area is characterized by its diversity and is known for its local businesses and community-driven commerce. The Richmond Annex, a nearby area, is noted for its vibrant diversity and neighborhood charm, with a growing food scene.
This location has a Walk Score of 90 out of 100, indicating it is a Walker's Paradise where most errands can be accomplished on foot. It also has a Transit Score of 58 out of 100, meaning there are many nearby public transportation options. Verified transit routes include the CC Capitol Corridor rail line, and bus lines such as 74 San Pablo Dam - 23rd St, 71 Parchester - Rumrill - Carlson, and 800 Rich - Oak Transbay All Nighter.
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.
- Kennedy High School (High) - GreatSchools rating 5/10 - Adams Middle School (Middle) - GreatSchools rating 4/10 - Lincoln Elementary School (Elementary) - GreatSchools rating 4/10 School District: West Contra Costa Unified School District
Nicholl Park, located at Macdonald Ave & 33rd St, is a 21-acre park featuring a playground, picnic area, BBQ facilities, lawn areas, baseball/softball fields, lawn bowling, tennis courts, and a soccer field. Boorman Park and Memorial Park are also nearby recreational areas.
The property is located in the North & East neighborhood of Richmond. This area is characterized by its diversity and is known for its local businesses and community-driven commerce. The Richmond Annex, a nearby area, is noted for its vibrant diversity and neighborhood charm, with a growing food scene.
This location has a Walk Score of 90 out of 100, indicating it is a Walker's Paradise where most errands can be accomplished on foot. It also has a Transit Score of 58 out of 100, meaning there are many nearby public transportation options. Verified transit routes include the CC Capitol Corridor rail line, and bus lines such as 74 San Pablo Dam - 23rd St, 71 Parchester - Rumrill - Carlson, and 800 Rich - Oak Transbay All Nighter.
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.
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