22
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$3,150,000
Est. payment /mo
3,397 Sqft Lot
Price Dropped by $250K
1 W Richmond AVE Richmond, CA 94801
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML82009280
HOA Y/N No
Year Built 1914
Annual Tax Amount $59,535
Lot Size 3,397 Sqft
Property Description
Rare Investment Opportunity in Historic Point Richmond, The J.G. Gerlach Building. Built in 1914, the J.G. Gerlach Building presents a unique investment opportunity with strong current income and significant future upside. This well-maintained mixed-use property consists of 38 single-room occupancy (SRO) units and two fully leased ground-floor retail spaces, located in the heart of Point Richmond, one of the East Bays most scenic and desirable enclaves. Two street-level retail spaces, currently occupied by a hair salon and a nail salon, generating consistent commercial rental income. Solid tenant demand and low vacancy contribute to stable monthly cash flow. Point Richmond is a hidden gem along the San Francisco Bay, offering a charming village-like atmosphere with a mix of natural beauty and cultural appeal. Residents and visitors enjoy; Sweeping bay views, marinas, and rolling hills, access to Keller Beach, one of the only swimmable bay beaches in the area. Miller/Knox Regional Shoreline, offering trails, picnic areas, and panoramic vistas. A walkable downtown with indie cafes, restaurants, galleries, and boutique shops. Vibrant and engaged local community with historic character. This property offers both immediate returns and long-term growth. Appraised Value: $3,900,000.
Location
State CA
County Contra Costa
Area 699 - Not Defined
Zoning CM2
Interior
Heating Electric
Cooling None
Fireplace No
Exterior
Utilities Available Other
Roof Type Composition,Other
Building
Water Other
Schools
Elementary Schools Washington
Middle Schools Other
High Schools Other
School District Other
Others
Tax ID 5581100053
Special Listing Condition Standard
Virtual Tour https://my.matterport.com/show/?m=qvvRgwW1MPA
Listed by Mark Caloca RE/MAX Accord
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