203 Bissell Avenue, Richmond, CA 94801
- $989,000
- 3,932
- SqFt
- List Price
- $989,000
- Price Change
- ▼ $10,000 1788484638
- Status
- ACTIVE
- MLS#
- ML82045270
- Year Built
- 1908
- Living Sq. Ft
- 3,932
- Lot Size
- 3,484
- Acres
- 0.08
- Days on Market
- 135
- Property Type
- Multifamily
- Property Sub Type
- Quadruplex
Property Description
Marcus & Millichap is pleased to present 203 Bissell Ave, offered at $1,150,000, 203 Bissell Ave is a 4 unit multifamily property located in Richmonds Iron Triangle neighborhood. Built in 1908, the property totals approximately 3,932 SF on a 0.08acre lot and is currently 50% occupied, presenting a clear value add and leaseup opportunity. The unit mix consists of one 4BD/2BA unit, two 4BD/1BA units, and one co-living layout, with inplace rents estimated ~13% below market. Utilities are efficiently structured with separately metered gas and electric and master metered water. Street parking only. Financial highlights include an 8.90% current cap rate and a 10.64% pro forma cap rate, supported by strong rent growth potential and operational upside. The property is within close proximity to Richmond BART & Amtrak (±1.3 miles), major freeways (I80, I580, SR4), Kaiser Permanente Richmond Medical Center, and regional employment hubs. An ideal opportunity for investors seeking high yield, upside through rent increases, and a well-located small multifamily asset in the East Bay.
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Additional Information
- Taxes
- $21,235
- Cooling
- Yes
- Cooling Description
- None
- Sewer
- Public Sewer
- Water
- Public
- School District
- Other
- Attached Structure
- Detached
- Gross Scheduled Income
- $145,837
Listing courtesy of Listing Agent: Eymon Binesh (ebinesh@marcusmillichap.com) from Listing Office: Marcus & Millichap.
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.