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1 W Richmond Ave
For Sale $2,990,000
$2,990,000
- 40 Units
- Unknown Sq Ft
- 3,398 Sq Ft
- Unknown Cap Rate
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.
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Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $2,990,000 |
| Property Type | Multi-Family |
| Usable Sqft | Unknown |
| Number of Stories | 0 stories |
| Parking Spots | 0 spots |
| Year Built | 1914 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| HOA Fees: | $0 |
| Association Name: | Unknown |
| Association Amenities: | Unknown |
| APN # | 5581100053 |
| MLS # | 41140282 |
| Property ID | 322980336 |
| Lot Sqft | 3,398 |
| Zoning | CM3 |
| Total Units | 40 |
| Days on Market | 5 |
| Original List Price | $2,990,000 |
| Date Updated | July 02, 2026 |
| Date Created | July 02, 2026 |
Financials not available online. Please inquire with your agent for more details.
Listing Provided By
John L. Morra an agent of BRG Realty. Lic #01884598
© 2026 CRMLS. All rights reserved. Some listings on this website are from CRMLS as of July 02, 2026 The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Robert Crawford
REAL ESTATE AGENT