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Listed by Eymon Binesh • Marcus & Millichap, DRE#02060059
$ 1,150,000
Est. payment | /mo
12 Beds
5 Baths
3,932 SqFt
$ 1,150,000
Est. payment | /mo
12 Beds
5 Baths
3,932 SqFt
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,932 sqft
Price per Sqft $292
MLS Listing ID ML82045270
Bedrooms 12
Full Baths 5
Year Built 1908
Lot Size 9,800 Sqft
Property Sub-Type Fourplex
Property Description
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.
Location
State CA
County Contra Costa
Area Richmond - South
Zoning RM
Interior
Heating Gas
Cooling None
Laundry Coin Operated
Exterior
Parking Features On Street
Utilities Available Public Utilities
Roof Type Rolled Composition
Building
Story 1
Foundation Concrete Perimeter
Sewer Sewer - Public
Water Public
Level or Stories 1
Others
Tax ID 538-190-021-5
Security Features None
Horse Property No
Special Listing Condition Not Applicable
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John Faylor
Realtor | Lic# 1065896