11311133 W 6th Street Chico, CA 95928

$620,000 Active

About the Property

Are you looking for a turn key investment property? This large 1/4 acre lot in the heart of Downtown Chico has two legal detached homes that present ample opportunity. The incredible location puts you at the center of the action, making these very desirable rentals and an ideal investment property. Your'e a short walk to Chico State and all the Bars + Restaurants in Historic Downtown Chico, and only a mile from Bidwell Park. New 2yr lease just signed for the main home at $3k/mo : A freshly updated 4 bed/2 bath (1320sqft) + spacious Bonus Room. The second home is a 2 bed/2 bath (785sqft), currently rented to great tenants on a 1yr lease at $1,495/mo. Total monthly rental income $4,495/mo! Plenty of parking for both units and they each have their own private yard space. Additionally, the R3 Zoning may allow for the development of additional units - buyer to verify with City of Chico Planning.

Property Information

Size 2,105 SqFt
Price/SqFt $295
Lot Size 0.26 Acres
Year Built 1895
Property Type Residential Income
Zoning R3
Listing Number ML81942437
Listed 9/19/2023
Modified 11/28/2023
Listing Agent Bjorn Berg
Listing Office eXp Realty of California Inc
Total Building 2

Property Features

Accessibility Features
  • Parking
Cap Rate
  • 7.69
Carport Spaces
  • 0.00
  • Wall/Window Unit(s)
Garage Spaces
  • 0.00
Gross Scheduled Income
  • 56340.00
  • Wall Furnace
Parking Total
  • 6.00
  • Shingle
  • Public Sewer
Total Expenses
  • 8654.00
Water Source
  • Public