Description

147 W. Richmond Ave is a beautiful brick mixed-use retail/residential complex located in historic Point Richmond. The 12,000 square foot property consists of five ground-floor commercial suites (approximately 3,120 SF), and 14 apartment units in a three-story building. Nine (9) apartment units have been renovated with fresh paint, new floors, updated bathrooms with new tile floors, toilets, walk-in showers, and new kitchens with stainless steel appliances. Each apartment unit has new entry doors and new dual-pane windows. In addition, the common areas were upgraded with fresh paint, new windows, new carpeting, and light fixtures. Current ownership also installed an interior bike rack and renovated the laundry room for tenants. The commercial units have received touch-ups as needed. Units are separately metered for PG&E and water, keeping operating expenses low for new ownership. The property has a very low vacancy history and its desirable location will continue to command high in-place rents that reflect the quality of the renovations and will ensure a turn-key investment for new ownership going forward.