Richmond, CA

$2,990,000

1 W Richmond Ave, Richmond, CA

Baths

1914

Built

Days listed

About this home

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.

Facts & features

Interior

Bathrooms: 0
Heating: See Remarks
Cooling: See Remarks

Exterior & lot

Lot size: 0.078 acres (3,398 sq ft)
Year built: 1914

Community

County: Contra Costa

Listing details

Status: Active
Property type: Residential Income
Days on market: 7
Listed: 2026-07-02
Parcel #: 5581100053
MLS #: 41140282

Listed by

John L. Morra · CENTURY 21 Masters

510-200-4449 morra.johnl@gmail.comDRE #01884598

Location

Price history

Listed: $2,990,000 · 2026-07-02
Days on market: 7
Current price: $2,990,000

Financing

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Estimated monthly payment

$18,757

$15,119 principal & interest · $3,638 taxes & insurance

Down payment (20%)

$598,000

Est. rate (%)

Estimate only

Term (years)

Loan $2,392,000

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Listing data provided by CRMLS

Listing courtesy of CENTURY 21 Masters. © 2026. The multiple listing data appearing on this website is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumer may be interested in purchasing. All data, including but not limited to all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed. Last updated July 26, 2026 Equal Housing Opportunity.