Mixed-Use Income
147 W Richmond Ave Richmond, CA 94801
147 W Richmond Ave, Richmond, CA, 94801
$3,850,000
For Sale
$3,850,000
Three-story mixed-use property with ground-floor commercial suites and fully renovated residential units, each individually metered.
Property Size12,000 SF
Price / SF$320.83
Days on Market50
Property Features for 147 W Richmond Ave
General Information
- Standard status
- Active
- Size
- 12,000 SF
- Property subtype
- Investment
Building Details
- Year Built
- 1914
Listing agency
NAI Northern California
(925) 588-9740
Listed by
Ethan Berger · License #01868467
(925) 588-9740
Source
Elliman
Added: Jun 3 Updated: Jul 10 at 1:51PM Checked: Jul 21 at 9:11AM
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 NAI Northern California
Investment Insights
Based on property information with market context.
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.
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.
Key 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
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $335.5k | $27.96 |
| − Vacancy | −$19.5k | −$1.62 |
| EGI | $316.1k | $26.34 |
| − OpEx | −$142.2k | −$11.85 |
| NOI | $173.8k | $14.49 |
12,000 SF · lease $27.96/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.48M
$2.17M – $2.90M
NOI $173,833 @ 7.0% cap · market cap 4.52%
Second Best
Retail
$2.31M
$2.02M – $2.69M
NOI $161,406 @ 7.0% cap · market cap 4.19%
Theoretical Best
Multifamily LT 5
$2.87M
$2.51M – $3.34M
NOI $200,673 @ 7.0% cap · market cap 5.21%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
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
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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
