Four-Unit Quadplex with Garage
For Sale
$995,000
1401 Bissell Ave, Richmond, CA 94801
MULTI_FAMILY - Richmond, CA
Property Size4,488 SF
Lot Size0.16 Acres
Price / SF$221.70
Days on Market151
Property Features for 1401 Bissell Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
10
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 9, Bathroom 4, Bedroom 2, Bedroom 6, Bedroom 1, Bedroom 4, Bedroom 7, Bathroom 3, Bedroom 5, Bathroom 1, Bathroom 2, Bedroom 8, Bedroom 10, Bedroom 3
Parking features
Garage
Window features
Window Coverings
Interior features
Formal Entry, Tub w/Shower Over
Exterior features
Back Yard, Garden/Play, Side Yard, Entry Gate, Garden
Fencing
Fenced, Gate
Subdivision
Civic Center
Lot features
Corner Lot
Elementary school district
West Contra Costa (510) -231-1100
High school district
West Contra Costa (510) -231-1100
Standard status
Active
APN
5401400196
Size
4,488 SF
Lot size
0.16 Acres
Utilities
Cooling system
Multi Units, Wall/Window Unit(s), Window Unit(s)
Building Details
Year built
1923
Number of units
4
Flooring type
Hardwood, Tile
Building materials
Stucco
Roof type
Composition
Listing Agency:
Security Pacific Real Estate
(510) 222-8340
Listed By:
Colin Davies
(510) 435-3624
Added: Mar 9
Changed: Aug 4
Last Checked: Aug 6 at 2:06PM
MLS# 41126531
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.
Four-unit quadplex on a corner lot featuring a mix of two-bedroom and three-bedroom floor plans. Unit 1403 is vacant and offers a three-bedroom, one-bath layout, supporting either owner-occupancy or lease-up. The remaining three units include a two-bedroom, one-bath and three-bedroom, one-bath mix. Building features include stucco construction, a composition roof, and a combination of tile and hardwood flooring. Cooling is provided by wall/window units, and the property includes individual meters with tenants responsible for water, sewer, gas, electricity, internet, and cable/satellite. Standard trash and recycling utilities are not billed to tenants. Four garage parking spaces are provided.
Located in Richmond’s Civic Center district near major regional transit, including Richmond BART and Amtrak, with access to Oakland, Berkeley, and San Francisco. The property is also near the Richmond Civic Center and Kaiser Richmond Medical Center.
Verified 2025 operating performance reflects a 5.7% cap rate, with existing income and an identified lease-up opportunity for the vacant unit.
Located in Richmond’s Civic Center district near major regional transit, including Richmond BART and Amtrak, with access to Oakland, Berkeley, and San Francisco. The property is also near the Richmond Civic Center and Kaiser Richmond Medical Center.
Verified 2025 operating performance reflects a 5.7% cap rate, with existing income and an identified lease-up opportunity for the vacant unit.
Key Highlights
- Vacant Unit 1403 offers a three‑bedroom, one‑bath layout
- Corner lot quadplex with approx. 6,750 SF lot and approx. 4,488 SF total building area
- Unit mix includes two‑bedroom, one‑bath and three‑bedroom, one‑bath apartments
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
$75,052
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
7.54%
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%
$1,501,040
$1.5M
Cap Rate 7%
$1,072,171
$1.1M
Cap Rate 9%
$833,911
$833.9K
Market Conditions
NOI Build-Up for 4,488 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
$113.1K $25.20/SF
− Vacancy
−$5.9K −$1.31/SF
EGI
$107.2K $23.89/SF
− OpEx
−$32.2K −$7.17/SF
NOI
$75.1K $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%
$1,501,040
Cap Rate 7%
$1,072,171
Cap Rate 9%
$833,911
Alternative Uses
Best Use
Multifamily LT 5
$1.07M
$938.2K – $1.25M
NOI $75,052 @ 7.0% cap · market cap 7.54%
Second Best
Apartment 5plus
$928.8K
$812.7K – $1.08M
NOI $65,014 @ 7.0% cap · market cap 6.53%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,007
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 - Four units near major regional transit; one unit is vacant and features a three-bedroom, one-bath layout.
Where is this quadplex located?
The property is located at 1401 Bissell Ave Richmond, CA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Vacant Unit 1403 offers a three‑bedroom, one‑bath layout; Corner lot quadplex with approx. 6,750 SF lot and approx. 4,488 SF total building area; Unit mix includes two‑bedroom, one‑bath and three‑bedroom, one‑bath apartments
