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… Read More 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. Read Less
Courtesy of Marcus & Millichap, Eymon Binesh 650-546-1030
Listing Snapshot
Days Online
55
Last Updated
Property Type
Fourplex
Square Ft.
3,932
Lot Size
0.22 Acres
Year Built
1908
MLS Number
ML82045270
30 Days Snapshot Of 94801
$547k
0%
(avg) sold price
72
0%
(avg) days on market
Snapshot
Area Map
Additional Details
Lot
Max Area: 9800.00, Max Area Units: Square Feet
Unit Two
4 bedrooms in unit 2
Unit Three
4 bedrooms in unit 3
Unit Four
4 bedrooms in unit 4
Accessibility Features
None
Building
Built in 1908, 4 building units, 1 building, 3,932 structure square feet
Roof
Rolled Composition
Utilities
Public Utilities
Sewer
Sewer - Public
Security Features
None
Heating
Gas
Cooling
None
Foundation
Concrete Perimeter
Laundry
Coin Operated
Water Features
Public
Miscellaneous
Vacancy factor: 3
Tenant Pays
Utilities - Electric, Utilities - Gas
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