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… Read More 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. Read Less
Courtesy of BRG Realty, Mark Caloca 669-238-8878
Listing Snapshot
Days Online
0
Last Updated
Property Type
Commercial Property
Square Ft.
9,434
Lot Size
0.08 Acres
Year Built
1914
MLS Number
ML82052646
30 Days Snapshot Of 94801
$547k
0%
(avg) sold price
0
-100%
homes sold
72
0%
(avg) days on market
Snapshot
Area Map
Additional Details
Lot
Max Area: 3398.00, Max Area Units: Square Feet, 11 yard square feet, Lot is 0.078007346189164 acres
Accessibility Features
Bathroom Features, Grab Bars, Other
Building
9,434 structure square feet, 0 net leasable square feet, 18 warehouse square feet, Built in 1914, 1 building, Age: 112, 40 minimum units in complex
Cooling
None
Foundation
Concrete Slab
Garage
No Garage, On Street
Water Features
Other
Heating
Electric
Interior Features
Minimum ceiling height: 0
Tenant Pays
Utilities - Electric, Utilities - Water
Miscellaneous
40 tenants, Total expenses: 159349
Property
Zoning: CM3
Roof
Composition, Other
Security Features
Fire Alarm, Fire System - Sprinkler
Taxes
Annual tax amount: $59,535
Utilities
Other, Master Electric, Separate Electric
Sewer
Sewer - Public
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