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Listed by Colin Davies • Security Pacific Real Estate
$ 1,050,000
Est. payment /mo
Active
1401 Bissell Ave Richmond, CA 94801
4,488 SqFt
UPDATED:
01/10/2025 03:33 PM
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 4,488 sqft
Price per Sqft $233
Subdivision City Center
MLS Listing ID 41081437
HOA Y/N No
Originating Board CONTRA COSTA
Year Built 1923
Lot Size 6,750 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
Heating MultiUnits
Cooling Other, Multi Units
Flooring Hardwood Flrs Throughout, Tile
Fireplace No
Window Features Screens,Window Coverings
Appliance Dryer, Washer
Laundry Dryer, Laundry Room, In Unit, Washer
Building
Lot Description Corner Lot, Back Yard, Security Gate
Water Public
Schools
School District West Contra Costa (510) -231-1100, West Contra Costa (510) -231-1100
© 2025 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.