203 Bissell Avenue, Richmond, California 94801, Richmond, 94801 - 0 bed, 0 bath
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Richmond, California 94801
This High-Yield Multifamily Asset represents a strategic acquisition in Richmond’s Iron Triangle, listed at $1,150,000. Positioned accurately relative to its $1,127,847 Fair Market Value, the property offers price stability in a high-demand rental corridor. Boasting an 8.90% Current Cap Rate and a 10.64% Pro Forma Cap Rate, this Quadruplex provides an immediate Value-Add Opportunity via the lease-up of its 50% vacancy. Despite a Fair Condition Rating, the asset’s private patio and proximity to Lincoln Elementary and Richmond BART ensures consistent tenant interest. It is a premier choice for Buy-and-Hold Investors and Value-Add Specialists.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 203 Bissell Avenue Subject | $999,000* List Price | 0 | 0 | 3,932 | $258 | - |
A 219 Barrett Avenue Active | $879,900 List Price | 0 | 0 | 3,288 | $268 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1908, the property shows some cosmetic updates including newer laminate flooring and fresh paint in units. However, the listing describes it as a 'value add' opportunity with rents below market, suggesting that kitchens, bathrooms, and core systems likely require modernization to reach full potential.
The property boasts an impressive 8.90% current cap rate with a pro forma potential of 10.64%, offering exceptional cash flow opportunities rarely seen in the East Bay market.
With 50% vacancy and current rents estimated at 13% below market, investors can realize immediate upside through strategic lease-up and rent stabilization.
Located just 1.3 miles from Richmond BART and Amtrak, and near major freeways (I-80, I-580), the property is ideally positioned for tenants commuting to regional employment hubs.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =9800, other record lot size in square feet = 3656.
The property offers street parking only, which may be a significant drawback for a four-unit building featuring large four-bedroom layouts and multiple residents.
Originally built in 1908, the asset may require higher ongoing maintenance costs or capital improvements compared to newer multifamily developments.
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.
No exterior & parking available.
Grades K-6 • 0.3 mi
Grades K-6 • 0.6 mi
Grades K-6 • 1.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 3,932 | - | 86% |
| Lot Size | 9,800 | 5,296 | 86% |
| Price | $999.0K | $690.0K | 71% |
| Price per sq ft | $254 | $0 | 57% |
| Built year | 1908 | 1913 | 29% |
| HOA | $0 | $0 | 50% |
| Days on market | 44 | 236 | 14% |
May 23, 2026
$999,000
$1,150,000
-13% Price Drop
Initial Listing
Apr 30, 2026
$1,150,000
Initial Listing
Jul 16, 2018
$875,000
Public Record
Feb 11, 2016
$495,000
Public Record
Feb 19, 2014
$511,500
Public Record
Dec 16, 2008
$95,000
Public Record
Aug 8, 2005
$765,000
Public Record