7.9% Cap rate with 40 units located in Point Richmond!

Description:

Built in 1914, the J.G. Gerlach Building offers a rare investment opportunity with 38 well-maintained single-room occupancy units and two street-level retail spaces. This property combines steady rental income with future appreciation potential. The residential units offer cozy, affordable housing with a mix of long- and short-term tenants, ensuring stable cash flow. The retail spaces, currently home to a hair salon and nail salon, add additional revenue and enhance the vibrant neighborhood atmosphere. Point Richmond is nestled along the San Francisco Bay and boasts stunning views of the water, marinas, and rolling hills. The neighborhood offers access to several waterfront parks and beaches, including; Keller Beach, (a swimmable bay beach) and Miller/Knox Regional Shoreline with trails and panoramic views. This natural setting contrasts with the more industrial and urban areas in central Richmond, which are less scenic and more densely developed. The downtown area features; independent cafes and restaurants, art galleries and boutique shops.

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