Christopher Danesi at RE/MAX Accord - 925.998.7426
East Bay Condo ManiaMLS: 41140282 $2,990,000
Bedrooms with Baths1 W RICHMOND AVE
RICHMOND CA 94801MLS: 41140282
Status: ACTIVE
List Price: $2,990,000
Price per SQFT: $317
Square Footage: 9434Bedrooms
Baths
Year Built: 1914
Zip Code: 94801
Listing Remarks
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.
Address: 1 W RICHMOND AVE RICHMOND CA 94801
Listing Agent: JOHN L. MORRA of CENTURY 21 MASTERS
Condo Mania Agent
Chris Danesi
RE/MAX Accord
DRE #01777489
Phone: 925.998.7426
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Listing Details
STATUS: Active SPECIAL LISTING CONDITIONS: Offer As Is LISTING CONTRACT DATE: 2026-07-02 LIVING AREA SQ FT: 9434 BUILDING AREA TOTAL: 9434 YEAR BUILT: 1914 FLOORING: Other HEATING: Other COOLING: Other LOT FEATURES: Level, Premium Lot PARKING FEATURES: No Parking on Site PROPERTY TYPE: COMM RI MULTI-UNITS 5+ PROPERTY SUB TYPE: Lowrise (1-3 Flrs) LISTING AGENT: JOHN L. MORRA LISTING OFFICE: CENTURY 21 MASTERS
Estimated Monthly Payments
List Price: $2,990,000 20% Down Payment: $598,000 Loan Amount: $2,392,000 Loan Type: 30 Year Fixed Interest Rate: 6.5 % Monthly Payment: $15,119 Estimate does not include taxes, fees, insurance.
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Property Location: 1 W RICHMOND AVE RICHMOND CA 94801
This Listing
Active Listings Nearby
Condo Mania Agent
Chris Danesi
RE/MAX Accord
DRE #01777489
Phone: 925.998.7426
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Information Deemed Reliable But Not Guaranteed. The information being provided is for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This information, including square footage, while not guaranteed, has been acquired from sources believed to be reliable.
Last Updated: 2026-07-02
