9% Cap rate with 40 units located in Point Richmond!

Highlights:

• New Roof
• New Electrial System

Description:

Institutional-grade, core-plus mixed-use acquisition opportunity in the high-barrier-to-entry submarket of Point Richmond. The historic J.G. Gerlach Building (Est. 1914) 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 (SRO) 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 (CapEx) 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 (NOI). Backed by a recent independent valuation of $3,900,000, the property offers a resilient yield profile driven by strong local demand economics. 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.

Disclosures

https://app.disclosures.io/link/1-West-Richmond-Avenue-rke41sas

Virtual Tour

https://my.matterport.com/show/?m=qvvRgwW1MPA

Seller buydown program explained

https://www.youtube.com/watch?v=LwZdQB7jq1M

Documents: