1401 Bissell Ave new Save Request In-Person Tour Request Virtual Tour
Richmond,CA 94801
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Subdivision City Center
MLS Listing ID 41081437
Year Built 1923
Lot Size 6,751 Sqft
Property Description
Professionally managed and fully occupied, this Bay Area investment provides immediate stability and robust cash flow. Verified 2024 financials show an annual rental income of $88,927 plus $809 in parking revenue, totaling $89,736 in gross income, and a $54,360 NOI. Transparent expenses include $14,448 in taxes and $4,117 in insurance, minimizing volatility. A significant remodel in 2018 further lowers capital expenditures, preserving strong returns. Projected 2025 gross scheduled income is $98,640, with a 5.5% cap rate at current performance and up to 8.5% at Fair Market Rent (FMR). The 2025 cap rate, new property tax at reassessment, and FMR are accounted for at the current list price. Located in a high-demand area known for low vacancy, this asset requires no immediate capital improvements—ideal for a seamless 1031 exchange or a strategic addition to your portfolio.
Location
State CA
County Contra Costa
Interior
Cooling See Remarks
Flooring Tile,Wood
Exterior
Parking Features Garage
Roof Type Shingle
Building
Lot Description Back Yard,Corner Lot,Yard
Others
Acceptable Financing Cash,Conventional,1031 Exchange
Listing Terms Cash,Conventional,1031 Exchange