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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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We have insufficient information to provide an overview of customer satisfaction for Richmond. Viewing the agent profiles, reviews and sales for Richmond can provide insights for this location.

Local market activity for duplexes in Richmond

In the last 12 months, 14 duplexes similar to 203 Bissell Ave, have been sold.

This represents a 48% increase in duplexes sales when compared to the previous 12 months.

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