One thing to understand about real estate as an asset class is that it is a depleting asset, meaning there is only so much of it (think oil).

Obviously none of they knew of the fire or looked at the property in the last few days.At tax sale I have seen people have bought:US Army bombing rangeExpired lease on propertyhouse with 3 walls, 4th wall missingsliver of land 2 feet wide50 foot cliff, access by helicopter onlyland at bottom of man made lake (literally underwater property)wetlandsflood plainsunbuildable propertyfailed perk testhistoric dig site, can't disturbproperty with no road frontagecondemned propertyproperty already scheduled for demolition soonformer gas station with leaking gas and oil tanks undergrounddry cleaning plant with toxic wasteSuper fund sitechromium factory with tanks and barrels of an unknown liquiddistillery with full barrells (ATF and state government was very interested and wanted to seize and destroy those barrells)Bigger Pockets Podcast #82 

It won't be the same as an oil shock, dot-com bust, GFC, or COVID, but something will happen. 

However now that it's been a couple years and Avantstay is running these like a well-oiled machine, I probably will continue with them as a PM company when my master lease is up. 

Show me one business endeavor that doesn't have it's own "gurus" and snake oil salesmen and I will say it's a better endeavor than the real estate business.

Given it's location not far from the ports of Richmond and Oakland, and that the Chevron oil refinery is nearby as well, some of that is likely be driving the highest and best use assessment. chris in the deep south they turn the anchor store into a big church..  

Last I would see if there is a record of an oil tank.

., loans not secured by real estate, or loans secured by farmland, recreational land, or oil and gas ,mining.  

Mineral rights? 

It’s ran like a business, not a personal investment.Given the heavy workload I have being the CEO/founder of the wealth management company, my wife has set up a well oiled machine on the property management side, due to her perfectionist drive however, it still means that she's constantly dealing with tenants and toilets and replying to items at all hours of the day and night.