Richmond, CA 94801
$2,990,000
Bed
0
Bath
0
Living Space
N/A SqFt
Year Built
1914
Lot Size
3,398 SqFt
Days
60
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.
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- Verde Elementary School (Elementary) - GreatSchools rating 2/10 - Lovonya Dejean Middle School (Middle) - GreatSchools rating 1/10 - Summit Public School: Tamalpais (High) - GreatSchools rating 5/10 School District: West Contra Costa Unified School District
Within a 1-2 mile radius of 1 Richmond, CA, several parks are available. These include Bay Vista Park, Nicholl Park, and Huntington Park. Bay Vista Park offers an ADA playground, picnic area, and basketball court. Nicholl Park features a playground, picnic area, BBQ facilities, and sports fields, including tennis courts and a soccer field. Huntington Park provides an ADA playground and picnic area.
The address is located in the Cortez-Stege neighborhood of Richmond, CA. This neighborhood is described as having a vibrant diversity and neighborhood charm, with a growing food scene that offers an eclectic range of options. San Pablo Avenue serves as the neighborhood's culinary spine, featuring various local favorites.
This location has a Walk Score of 77 out of 100, indicating it is very walkable, meaning most errands can be accomplished on foot. The Transit Score is not explicitly listed for this specific address, but the Cortez-Stege neighborhood, where it is located, has some transit options. Nearby transit routes include the 74 San Pablo Dam - 23rd St and the 580 Del Norte BART Station.
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.
- Verde Elementary School (Elementary) - GreatSchools rating 2/10 - Lovonya Dejean Middle School (Middle) - GreatSchools rating 1/10 - Summit Public School: Tamalpais (High) - GreatSchools rating 5/10 School District: West Contra Costa Unified School District
Within a 1-2 mile radius of 1 Richmond, CA, several parks are available. These include Bay Vista Park, Nicholl Park, and Huntington Park. Bay Vista Park offers an ADA playground, picnic area, and basketball court. Nicholl Park features a playground, picnic area, BBQ facilities, and sports fields, including tennis courts and a soccer field. Huntington Park provides an ADA playground and picnic area.
The address is located in the Cortez-Stege neighborhood of Richmond, CA. This neighborhood is described as having a vibrant diversity and neighborhood charm, with a growing food scene that offers an eclectic range of options. San Pablo Avenue serves as the neighborhood's culinary spine, featuring various local favorites.
This location has a Walk Score of 77 out of 100, indicating it is very walkable, meaning most errands can be accomplished on foot. The Transit Score is not explicitly listed for this specific address, but the Cortez-Stege neighborhood, where it is located, has some transit options. Nearby transit routes include the 74 San Pablo Dam - 23rd St and the 580 Del Norte BART Station.
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.