491 Waterford Drive Chico, CA 95973

$272,000 Closed

About the Property

Please Note: This property has been SOLD

Room for improvement to make more income! Check out this large duplex on Waterford Dr, in North Chico. This is a neighborhood of nice little homes and duplexes with large yards. Other duplexes on the street look better than this one, but these units have a lot to offer; central heat and air, indoor laundry, vaulted ceilings and large yards. They do need some repair and updating. Bring your elbow grease, expertise and paintbrush, then go to work for yourself. Units need a variety of flooring, paint, new windows and other repairs. Unit A is a 3/2 that had a month to month agreement of $1,050 per mo. These long time tenants are leaving soon and this unit needs a makeover to increase the rent. Unit B, a 2/2 has had a month to month agreement since 2011, for a rent of $800 per mo. I know of the same floor plan, a 2/2, just a block away, that is fixed up nicely, and that rents for $1,100 per month! Tenants are nice folks and quite cooperative. To keep their lives more peaceful and if you are seriously interested in seeing the unit, request our Online Video Tour first, then book some time for a real walk through. Landlord says he pays: Water $100, Trash $50, Pest Control $25, Insurance $70, Tax $250, Lawn $30. - Washer, dryer and frig owned by tenants

Property Information

Size 2,241 SqFt
Price/SqFt $121
Lot Size 0.36 Acres
Year Built 1979
Property Type Residential Income
Listing Number CH15020842
Listed 1/30/2015
Modified 5/23/2015
Listing Agent Susie Stephens
Listing Office Chico Real Estate, Inc
Total Building 1
Total Units 2

Property Features

# Electric Meters
  • 2
# Gas Meters
  • 2
# Units Leased
  • 2
# Water Meters
  • 2
Cap Rate
  • 5.80
Carport Spaces
  • 2.00
Cooling
  • Central
Electric
  • Electricity - On Property
Garage Spaces
  • 0.00
Gross Income
  • 1850.00
Gross Scheduled Income
  • 22200.00
Levels
  • One
Net Operating Income
  • 15900.00
Operating Expense
  • 6300.00
Other Structures
  • Shed(s)
Parking Total
  • 6.00
Pool
  • None
Roofing
  • Composition
Sewer
  • Sewer Paid
Spa
  • None
Style
  • Contemporary
Total Actual Rent
  • 1850.00
Utilities
  • Natural Gas Available
Views
  • Neighborhood
Water Source
  • Public
Appliances
  • Electric Stove
  • Water Heater Unit
Construction Materials
  • Stucco
  • Wood Siding
Fencing
  • Needs Repair
  • Wood
Flooring
  • Carpet
  • Vinyl
Community Features
  • Curbs
  • Gutters
  • Sidewalks
Heating
  • Central Furnace
  • Forced Air
  • Natural Gas
Tenant Pays
  • Cable TV
  • Electricity
  • Gas
Fireplace
  • Raised Hearth
  • Living Room
  • Masonry
  • Wood