147 W Richmond Ave, Richmond, CA for sale

Investment Overview

Located in a thriving East Bay waterfront community, 147 W Richmond Ave presents a rare investment opportunity to acquire a well-maintained, income-producing mixed-use asset with strong upside and classic architectural charm. This 12,000 sq ft, three-story building (with a partial basement) features five ground-floor commercial suites totaling 3,120 sq ft, providing steady retail or office income. Above, the second and third floors house 14 fully renovated residential units—including 10 one-bedroom/one-bath units and 4 two-bedroom/one-bath units—offering multiple, reliable revenue streams. The current ownership has completed a comprehensive modernization of all residential units while preserving character-rich details like exposed brick walls. Interior upgrades include new flooring throughout, stylish shaker cabinetry and solid surface countertops, updated appliance packages, contemporary bathrooms with new walk-in showers, sinks, and toilets, dual-pane windows and new entry doors, and upgraded electrical sub-panels in each unit. Common areas have also been improved with new carpeting, lighting, and windows, along with thoughtful amenities such as an indoor bike rack and a refreshed on-site coin-operated laundry room. Each unit is individually metered for gas and electricity, and tenants are billed back for a portion of shared utilities—minimizing operating costs and increasing net income. This is a turnkey asset in an attractive location with strong tenant demand and long-term appreciation potential. Whether you’re a seasoned investor or expanding your portfolio, 147 W Richmond Ave offers a compelling blend of location, quality, and cash flow.

Investment Highlights

• Affluent Demographics: Within a 0.3-mile radius, the average household income is over $182K and average home value is $1.24M.
• Modern Renovations: The property features fully updated interiors, including new flooring, cabinetry, countertops, appliances, bathrooms, windows, doors, and electrical panels.
• Diverse Income Streams: Includes five commercial suites and 14 renovated residential units (10 one-bed/one-bath, 4 two-bed/one-bath), plus an on-site laundry facility.
• Excellent Location & Connectivity: Convenient access to San Francisco (35 min), Oakland (20 min), and Marin County via the San Rafael Bridge; also near the Richmond ferry terminal.
• Prime Point Richmond Setting: Walkable neighborhood (Walk Score 82) near shops, restaurants, galleries, and amenities.