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    Mixed-Use Income Building Title is generated by Realmo AI

    147 W Richmond Ave, Richmond, CA 94801

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    For Sale
    $3,850,000

    Three-story mixed-use property with ground-floor commercial suites and fully renovated residential units, each individually metered.

    Type:Investment
    Property size:
    12,000 SF
    Price / SF:
    $320/SF
    Added:
    Jun 3, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 6 at 4:10 am

    Property Features for 147 W Richmond Ave

    General Information

    Standard status
    Active
    Size
    12,000 SF
    Property subtype
    Investment

    Building Details

    Year Built
    1914

    We can help!

    Listing Contact
    Ethan Berger

    Listing agent Ethan Berger License #01868467

    Listing office

    Listing date Jun 3, 2026

    Source Elliman

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Ethan Berger

    HighLights

    • Three‑story mixed‑use building built in 1914 with partial basement and approx. 12,000 sq ft total building area
    • Ground‑floor includes 5 commercial suites totaling 3,120 sq ft for retail or office income
    • Second and third floors feature 14 fully renovated residential units: 10 one‑bed/one‑bath and 4 two‑bed/one‑bath
    • Updates to residential units include new flooring, shaker cabinetry with solid surface countertops, and updated appliance packages
    • Renovations also include contemporary bathrooms with new walk‑in showers, sinks, and toilets, plus dual‑pane windows and new entry doors
    • Each unit is individually metered for gas and electricity, with tenants billed for a portion of shared utilities

    Overview

    147 W Richmond Ave is a three-story mixed-use income building with a partial basement, totaling approximately 12,000 square feet. The ground floor includes five commercial suites totaling 3,120 square feet for retail or office use. The second and third floors contain 14 residential units that have been fully renovated, including ten one-bedroom/one-bath layouts and four two-bedroom/one-bath layouts. Interior modernization features include new flooring, shaker cabinetry with solid surface countertops, updated appliance packages, and contemporary bathrooms with new walk-in showers, sinks, and toilets. Additional upgrades include dual-pane windows, new entry doors, and upgraded electrical sub-panels in each unit. Common areas have been refreshed with new carpeting, lighting, and windows, and the property includes an indoor bike rack and a refreshed on-site coin-operated laundry room.

    The asset is in Richmond, CA 94801. WalkScore is 14 (car-dependent), bikeScore is 34 (somewhat bikeable), and transitScore is 0 (no nearby transit) based on the provided information.

    This building offers a practical mix of income streams for an owner-operator or investor, combining five ground-floor suites with 14 residential units. With individual gas and electricity meters and tenant billing for a portion of shared utilities, operating expenses can be allocated in a more controlled manner. The updates across both residential interiors and common areas support straightforward tenant transition and day-to-day management.
    Location Intelligence

    Current Use by Public Records

    Pointe Richmond Family ... Medical Clinic The Final Sauce Big Box & Wholesale Store Jane Himmelvo Pediatrician Bobby Bankz Beauty Hair Salon Skin Esthetics Medical Clinic

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Contra Costa
    State
    California
    Longitude
    -122.3858086
    Latitude
    37.9260044

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    FAQs

    What type of property is this?
    Apartment building - Three-story mixed-use property with ground-floor commercial suites and fully renovated residential units, each individually metered.
    Where is this apartment building located?
    The property is located at 147 W Richmond Ave Richmond, CA.
    What is the asking price?
    The asking price for this property is $3,850,000.
    What are key features of this property?
    This property features: Three‑story mixed‑use building built in 1914 with partial basement and approx. 12,000 sq ft total building area; Ground‑floor includes 5 commercial suites totaling 3,120 sq ft for retail or office income; Second and third floors feature 14 fully renovated residential units: 10 one‑bed/one‑bath and 4 two‑bed/one‑bath
    (925) 588-9740
    We can help!
    Listing Contact
    Ethan Berger
    Real Estate License ID: 01868467
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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