Home | Contra Costa County | Richmond | 94801 | 1 W Richmond Ave
MLS: BE41140282 | Status: | Price: $2,990,000
Beds/Baths: – / –
Property Type: Residential Income
| Beds | Baths | Sq Ft | Sq Ft Lot | Yr Built |
|---|---|---|---|---|
| – | – | 9,434 | 3,398 | 1914 |
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.
| Field | Value |
|---|---|
| MLS # | BE41140282 |
| MLS Source | Bay East |
| Days on Site | 11 |
| Feature | Details |
|---|---|
| Flooring | Other |
| Cooling | Other |
| Feature | Details |
|---|---|
| Roof | Other |
| Feature | Details |
|---|---|
| Garage/Parking | No Parking, Garage: Car(s) |
| Complex Amenities | None |
| Zoning | CM3 |
| Listing Agent | Co-Listing Agent |
|---|---|
| John L. Morra | Mark Caloca |
| CENTURY 21 Masters | |
| License #: 01884598 | License #: 02146982 |
| Phone: (510) 200-4449 | Phone: (669) 238-8878 |
School data provided by GreatSchools.org
| School | Type | Grades | Distance | Rating |
|---|---|---|---|---|
| Washington Elementary School | public | K-6 | 0.18 mi | 2 |
| Lincoln Elementary School | public | K-6 | 1.17 mi | 4 |
| Nystrom Elementary School | public | K-6 | 1.39 mi | 6 |
| Greenwood Academy | public | 9-12 | 1.39 mi | 1 |
| Peres Elementary School | public | K-8 | 1.65 mi | 1 |
| Coronado Elementary School | public | K-6 | 1.92 mi | 3 |
| Cesar E. Chavez Elementary School | public | K-6 | 2.30 mi | 2 |
| Grant Elementary School | public | K-6 | 2.46 mi | 1 |
| Edward M. Downer Elementary School | public | K-6 | 2.58 mi | 3 |
| Stege Elementary School | public | K-6 | 2.62 mi | 2 |
| Lovonya Dejean Middle School | public | 7-8 | 2.63 mi | 1 |
| Verde Elementary School | public | K-8 | 2.77 mi | 2 |
| Richmond High School | public | 9-12 | 2.83 mi | 3 |
| King Elementary School | public | K-6 | 2.90 mi | 2 |
| Ford Elementary School | public | K-6 | 2.96 mi | 1 |
| Dover Elementary School | public | K-6 | 2.98 mi | 4 |
| Kennedy High School | public | 9-12 | 3.11 mi | 2 |
| Wilson Elementary School | public | K-6 | 3.21 mi | 3 |
| Helms Middle School | public | 7-8 | 3.57 mi | 1 |
| Lake Elementary School | public | K-6 | 3.62 mi | 3 |
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This listing information is up-to-date as of July 09, 2026. For the most current information, please contact John L. Morra, (510) 200-4449.