Multifamily
203 Bissell Ave
203 Bissell Ave, Richmond, CA 94801
Listing Price: $1,150,000
Investment 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.
203 Bissell Ave
Investment Highlights
- Offered at $1,150,000 ($287,500 per unit / $292.47 per square foot).
- The property features 1-bedroom, and 4-bedroom units, catering to a wide range of tenants. Each unit combines modern amenities like hardwood floors and abundant natural light.
- With 50% occupancy, the asset presents an opportunity for lease-up of the remaining units and a rental increase to match current market rents.
Exclusively Listed By
Listing Price: $1,150,000
Investment Highlights
- Offered at $1,150,000 ($287,500 per unit / $292.47 per square foot).
- The property features 1-bedroom, and 4-bedroom units, catering to a wide range of tenants. Each unit combines modern amenities like hardwood floors and abundant natural light.
- With 50% occupancy, the asset presents an opportunity for lease-up of the remaining units and a rental increase to match current market rents.
Investment 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.
Exclusively Listed By
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