203 Bissell AvenueRichmond, CA 94801
Contra Costa County
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.
Property Information
- Property type
- Residential Income
- Sub-type
- Quadruplex
- Year built
- 1908
- Living area
- 3,932 Sq Ft
- Lot size
- 3,484 Sq Ft
- Zoning
- RM
- Days on market
- 151
- MLS® Listing#
- ML82045270
Property Features
- Heating
- Natural Gas
- Sewer
- Public Sewer
- Water source
- Public
Financial Details
- HOA
- None
- Parcel number
- 5381900215
Listing Courtesy: Marcus & Millichap
Presented by: Eymon Binesh
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