112 W 20th Street Chico, CA 95928

$649,900 Active Under Contract

About the Property

Well maintained 10-unit income property in good location walking distance to Sierra Nevada Brewery, pubs, and restaurants. More importantly, the property offers great cash flow. Here are the actual numbers: $64,800 per year in rents; $17,714 in annual operating expenses; net income of $47,086. At a sales price of $649,900 the CAP rate is 7.25%. You won’t find another multi-unit income property with this high of a return. The property has a low vacancy rate and a tenant waiting list. The property requires little maintenance and offers plenty of off-street parking. The building configuration is as follows: main building has 8 one bedroom units ($500/month each); on the back alley is a one bedroom home ($650/month); also on back alley is a two bedroom home ($750/month). Total of 3 buildings plus a storage shed.

Property Information

Size 3,308 SqFt
Price/SqFt $196
Lot Size 0.303 Acres
Year Built 1929
Property Type Residential Income
Zoning C2
Listing Number CH17163650
Listed 7/18/2017
Modified 10/28/2017
Listing Agent Michael McCrady
Listing Office Michael McCrady, Broker
Total Building 3
Total Units 10

Property Features

# Electric Meters
  • 10
# Gas Meters
  • 3
# Water Meters
  • 1
Carport Spaces
  • 0.00
Cooling
  • Wall Window
Fencing
  • Wood
Fireplace
  • None
Garage Spaces
  • 0.00
Gross Income
  • 64800.00
Gross Scheduled Income
  • 64800.00
Interior
  • Bar
Levels
  • One
Net Operating Income
  • 47086.00
Operating Expense
  • 15770.00
Parking Total
  • 30.00
Pool
  • None
Roofing
  • Asphalt
StoriesTotal
  • 1
Style
  • Bungalow
Tenant Pays
  • Electricity
Total Expenses
  • 15770.00
Uncovered Spaces
  • 30.00
Utilities
  • Sewer Connected
Views
  • Neighborhood
Water Source
  • Public
Construction Materials
  • Drywall Walls
  • Stucco
Heating
  • Wall Heater
  • Natural Gas
Community Features
  • Sidewalks
  • Storm Drains
  • Street Lighting