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.
Property Details
Price:
$1,050,000
MLS #:
41081437
Status:
Pending
Baths:
0
Address:
1401 Bissell Ave
Type:
Residential Income
Subtype:
Quadruplex
Subdivision:
CITY CENTER
City:
Richmond
Listed Date:
Jan 3, 2025
State:
CA
ZIP:
94801
Lot Size:
6,750 sqft / 0.16 acres (approx)
Year Built:
1923
See this Listing
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Schools
Interior
Cooling
See Remarks
Flooring
Wood, Tile
Window Features
Screens
Exterior
Lot Features
Corner Lot, Back Yard, Yard
Parking Features
Garage
Parking Spots
4.00
Roof
Shingle
Financial
Association Fee
0.00
Tenant Pays
Gas
Map
Community
- Address1401 Bissell Ave Richmond CA
- SubdivisionCITY CENTER
- CityRichmond
- CountyContra Costa
- Zip Code94801
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1401 Bissell Ave
Richmond, CA
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