203 Bissell Ave

Richmond CA 94801

3932 sq. ft.

9800 sq. ft.

Duplex

Currently for sale - view listing

Overview

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.

Features

3932 sq. ft. floor area

9800 sq. ft. lot size

Duplex

Property history for 203 Bissell Ave

2018

Sold

$875,000

20 Jul 2018 by David Hidalgo, of Century 21 Epic

2016

Sold

$495,000

11 Feb 2016 by Daniel Risman-Jones, of Vanguard Properties

Happy sellers in Richmond

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