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203 Bissell Ave 4 Unit Apartment Building $1,581,055 CAD ($395,264 CAD/Unit) 8.90% Cap Rate Richmond, CA 94801
Investment Highlights
- 4 rooms in each unit with either 1 or 2 bathrooms
Executive Summary
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.
Property Facts
| Price | $1,581,055 CAD | Property Subtype | Apartment |
| Price Per Unit | $395,264 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 8.90% | Lot Size | 0.08 AC |
| Gross Rent Multiplier | 7.95 | Building Size | 3,932 SF |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1908 |
| Zoning | R3, Richmond - Residential | ||
| Price | $1,581,055 CAD |
| Price Per Unit | $395,264 CAD |
| Sale Type | Investment |
| Cap Rate | 8.90% |
| Gross Rent Multiplier | 7.95 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.08 AC |
| Building Size | 3,932 SF |
| No. Stories | 2 |
| Year Built | 1908 |
| Zoning | R3, Richmond - Residential |
Amenities
Site Amenities
- Smoke Free
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+1 | 2 | - | - |
| 4+2 | 2 | - | - |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 538-190-021-5 | Improvements Assessment | $889,512 CAD |
| Land Assessment | $460,092 CAD | Total Assessment | $1,349,605 CAD |
Property Taxes
Parcel Number
538-190-021-5
Land Assessment
$460,092 CAD
Improvements Assessment
$889,512 CAD
Total Assessment
$1,349,605 CAD
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203 Bissell Ave
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