10 Jillian Lane Chico, CA 95973

$835,000 Active

About the Property

ALIVE Commercial Real Estate is pleased to exclusively present the Jillian Lane Townhouses, a 2002 construction fourplex located in the desirable town of Chico, CA. The property is comprised of four 1,150 SF three-bedroom/two-bathroom townhouse style floor plans with attached direct access garages, private enclosed backyards and an open-living layout ideal for renters and tenants alike. Although the property has been very well maintained, a new owner will have the opportunity to capitalize on a 20% upside in rents, achievable through an interior renovation program. The population growth in Chico has not been met with sufficient housing construction, resulting is very strong single-family price appreciation and rent growth over the last several years. Current rents at Jillian are well below market and ripe for a new owner to capitalize on the opportunity. Jillian lane is ideally situated along Burnap avenue, conveniently tucked away on a private cul-de-sac street on the north east end of Chico, CA. The property benefits from convenient access to retail and shopping (Trader Joe's anchored shopping center 0.8 miles away) as well as a short three mile drive or bike ride to Bidwell park, California's third largest municipal park. Chico's gentrification over the last 10 years has resulted in strong Y-O-Y population growth, making it one of the most desirable and affordable places to live in the Northern California Valley.

Property Information

Size 4,600 SqFt
Price/SqFt $182
Lot Size 0.34 Acres
Year Built 2002
Property Type Residential Income
Listing Number SN20206556
Listed 9/8/2020
Modified 10/12/2020
Listing Agent Spencer Moyer
Listing Office Alive Commercial Real Estate
Total Building 2
Total Units 4

Property Features

# Electric Meters
  • 4
# Gas Meters
  • 4
# Units Leased
  • 4
# Water Meters
  • 1
Cooling
  • Central Air
Garage Spaces
  • 4.00
Gross Operating Income
  • 56943.00
Gross Scheduled Income
  • 59940.00
Heating
  • Central
Interior
  • Open Floorplan
Levels
  • Two
Net Operating Income
  • 34296.00
Operating Expense
  • 22647.00
Parking Total
  • 8.00
Pool
  • None
Price Pe rUnit
  • 208750
Sewer
  • Public Sewer
StoriesTotal
  • 2
Total Expenses
  • 19636.00
Uncovered Spaces
  • 4.00
Water Source
  • Public
Community Features
  • Hiking
  • Sidewalks
  • Street Lights
  • Suburban