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.
For sale
Price cut: $250K (8/16)
$3,150,000
W Richmond Ave, Richmond, CA 94801
--beds
--baths
9,434sqft
Est.:
Five Or More Units
Built in 1914
-- sqft lot
$-- Zestimate®
$334/sqft
$-- HOA
What's special
Cozy affordable housingWell-maintained single-room occupancy units
- 78 days
- on Zillow |
- 126 |
- 6 |
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