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Listed by Marcus & Millichap
$ 999,000
Est. payment | /mo
3,932 SqFt
$ 999,000
Est. payment | /mo
3,932 SqFt
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,932 sqft
Price per Sqft $254
MLS Listing ID ML82045270
HOA Y/N No
Year Built 1908
Lot Size 9,800 Sqft
Property Sub-Type Quadruplex
Source Datashare MLSListings
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
Interior
Heating Natural Gas
Cooling No Air Conditioning
Fireplace No
Laundry Coin Operated
Building
Water Public
Schools
School District West Contra Costa (510) -231-1100, West Contra Costa (510) -231-1100
"We would love to put our experience and successful track record to work for you. Top 1% in California" Kevin & Naomi Kieffer Compass Homes@EastBayPro.com or M. 925-300-8000"