203 Bissell Avenue

Property 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.
Home Details
- Property type
- ResidentialIncome - Quadruplex
- Year built
- 1908
- Living area
- 3,932 sq ft
- Lot size
- 9,800 sq ft
- Stories
- 1.0
- Days on market
- 20
- MLS status
- Active
- Zoning
- RM
Community, Schools & Utilities
Utilities
- Cooling
- None
- Water
- Public
- Sewer
- PublicSewer
Location & Neighborhood
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