Remodeled Four-Unit
For Sale
$1,300,000
400 Bissell Ave, Richmond, CA 94801
Residential Income, Richmond, CA
Property Size3,550 SF
Lot Size0.13 Acres
Price / SF$366.20
Days on Market49
Property Features for 400 Bissell Ave
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
12
Bathrooms
7
Full bathrooms
7
Rooms
Bedroom 1, Bedroom 9, Bedroom 7, Bedroom 10, Bedroom 6, Bedroom 2, Bedroom 5, Bathroom 3, Bedroom 4, Bathroom 2, Bathroom 7, Bathroom 1, Bathroom 6, Bedroom 8, Bedroom 12, Bathroom 5, Bedroom 11, Bedroom 3, Bathroom 4
Parking features
Guest
Exterior features
Back Yard, Side Yard
Fencing
Fenced
Subdivision
Richmond
Lot features
Corner Lot
Directions
Google Maps..
Standard status
Active
APN
5383100012
Size
3,550 SF
Lot size
0.13 Acres
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
in-unit washer/dryer hookups
spacious backyard
Building Details
Year built
1919
Number of units
4
Flooring type
Laminate, Carpet
Building materials
Wood Siding
Roof type
Composition
Listing Agency:
Keller Williams Realty
(925) 934-2900
Listed By:
Blake Bergesen · License #02176435
(925) 899-0665
Added: Jul 21
Changed: Sep 6
Last Checked: Sep 7 at 9:06AM
MLS# 41142340
Copyright © 2026 Contra Costa Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1919, this 3,550-square-foot quadplex sits on a 0.1286-acre oversized corner lot in Richmond. The property includes one 4-bedroom/2-bath unit, two 3-bedroom/1.5-bath units, and one 2-bedroom/1-bath unit. All four residences have been remodeled with laminate and carpet flooring, stainless steel kitchen appliances, in-unit washer/dryer hookups, and wall furnace heating. Window and wall/window unit cooling are provided. Each unit has two tandem parking spaces, while individual gas and electric meters support separate utility management.
The exterior includes wood siding, a composition roof, fencing, a backyard, and a side yard. The property is served by public water and public sewer. Two units are currently vacant, providing flexibility for an owner-occupant or an investor to place tenants in those residences.
The exterior includes wood siding, a composition roof, fencing, a backyard, and a side yard. The property is served by public water and public sewer. Two units are currently vacant, providing flexibility for an owner-occupant or an investor to place tenants in those residences.
Key Highlights
- 3,550‑square‑foot quadplex on a 0.1286‑acre oversized corner lot
- Unit mix includes one 4‑bedroom/2‑bath, two 3‑bedroom/1.5‑bath, and one 2‑bedroom/1‑bath residence
- All four units have been remodeled with stainless steel kitchen appliances
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$59,366
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.57%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,187,320
$1.2M
Cap Rate 7%
$848,086
$848.1K
Cap Rate 9%
$659,622
$659.6K
Market Conditions
NOI Build-Up for 3,550 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$89.5K $25.20/SF
− Vacancy
−$4.7K −$1.31/SF
EGI
$84.8K $23.89/SF
− OpEx
−$25.4K −$7.17/SF
NOI
$59.4K $16.72/SF
Area
Richmond, CA
Vacancy
5.20%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,187,320
Cap Rate 7%
$848,086
Cap Rate 9%
$659,622
Alternative Uses
Best Use
Multifamily LT 5
$848.1K
$742.1K – $989.4K
NOI $59,366 @ 7.0% cap · market cap 4.57%
Second Best
Apartment 5plus
$734.7K
$642.8K – $857.1K
NOI $51,426 @ 7.0% cap · market cap 3.96%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,584
Businesses Nearby
Explore this area
Business Placement
Demographics for 94801, CA
33,486
Population
11,012
Households
3
Avg Household Size
34
Median Age
19%
College-Educated
69%
High-School Grad
11.5 sq mi
ZIP Area
2,912
Density / Sq Mi
$75,786
Median Household Income
$40,435
Median Earnings
$1,608
Median Rent
$593,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Updated rental property with varied floor plans, private laundry hookups, tandem parking, and separately metered utilities.
Where is this quadplex located?
The property is located at 400 Bissell Ave Richmond, CA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 3,550‑square‑foot quadplex on a 0.1286‑acre oversized corner lot; Unit mix includes one 4‑bedroom/2‑bath, two 3‑bedroom/1.5‑bath, and one 2‑bedroom/1‑bath residence; All four units have been remodeled with stainless steel kitchen appliances
