203 Bissell Ave — Sale in Richmond, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Richmond, CA 94801

Investment Figures

Cap rate
8.90%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

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. 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.

Market Context

This multifamily in Richmond, CA is listed for sale. It is offered at an approximate 8.9% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 86 days. Compare it against other multifamily listings for sale in Richmond, CA — view the full market.

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