107 W 16th Street Chico, CA 95928

$550,000 Active

About the Property

This is a 5-unit multifamily property located in Chico, CA. Built in 1945, the property is comprised of (1) studio, (3) one-bedroom one-bathroom, and (1) two-bedroom one-bathroom floor plans. The building is comprised of a wood exterior, pitched composition shingle roof and wall air-conditioning units. There is also a shared laundry room on the lower floor. The listing price of $550,000 makes this one of the lowest price per unit investment opportunities in Chico within the last 12 months. Comparable market data shows current rents are below market, allowing a new owner to achieve a CAP rate above 6% with aggressive management and interior/exterior improvements

Property Information

Size 3,558 SqFt
Price/SqFt $155
Lot Size 0.12 Acres
Year Built 1945
Property Type Residential Income
Listing Number SN22178097
Listed 8/12/2022
Modified 8/12/2022
Listing Agent Spencer Moyer
Listing Office Alive Commercial Real Estate
Total Building 1
Total Units 5

Property Features

# Electric Meters
  • 5
# Units Leased
  • 5
Cap Rate
  • 4.53
Community Features
  • Biking
Cooling
  • Wall/Window Unit(s)
Garage Spaces
  • 0.00
Gross Income
  • 47880.00
Gross Scheduled Income
  • 47880.00
Heating
  • Wall Furnace
Net Operating Income
  • 24922.00
Operating Expense
  • 21521.00
Parking Total
  • 5.00
Pool
  • None
Price Pe rUnit
  • 110000
Roofing
  • Composition
Sewer
  • Public Sewer
Tenant Pays
  • Electricity
Total Expenses
  • 21521.00
Uncovered Spaces
  • 5.00
Water Source
  • Public