203 Bissell Avenue, Richmond, CA 94801
List Price: $1.15M
Listing Status: Active
0Days on Market: 0
0 Bedrooms · 0 Bathrooms · 3,932 sq ft
Property Type: ResidentialIncome
Year Built: 1908
Lot Size: 9,800 sq ft
Annual Property Tax: $21,235
MLS Number: ML82045270
About This Property
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.
Listing provided by: Eymon Binesh DRE #02060059 (650) 391-1700 ebinesh@marcusmillichap.com, Marcus & Millichap
Source: CRMLS, MLS #: ML82045270
Belmont Brokerage Inc. (DRE #02431308) is not the listing office for this property. We provide buyer representation and consultation. Any “Schedule a Tour” or “Contact” form on this page contacts a Belmont Brokerage agent — not the listing agent above.