1152 Magnolia Avenue Chico, CA 95926

$1,150,000 Active

About the Property

This investment opportunity in Chico presents a prime location near Chico State University, Enloe Hospital, Downtown Chico, and various shopping centers, making it highly desirable for renters. The property features five-units with a charming single-family residence at the front and a four-unit apartment building towards the back. The front home features three bedrooms and two bathrooms, with a beautifully updated interior that includes granite countertops, white cabinets, stainless steel appliances, and durable LVP flooring throughout. The living room is cozy with a fireplace, and there's a private washer and dryer for convenience. The four-unit apartment building, located down the walkway, features spacious three-bedroom, one-bathroom units. Each apartment offers a private balcony or patio, providing outdoor space for tenants. The units also feature roomy living areas, fully equipped kitchens, and a quaint dining nook. An on-site laundry room adds to the convenience for residents. This property's location ensures high demand, particularly from students attending Chico State and healthcare professionals working at Enloe Hospital. With its proximity to downtown and shopping centers, tenants will enjoy easy access to dining, entertainment, and retail options.

Property Information

Size 4,500 SqFt
Price/SqFt $256
Lot Size 0.23 Acres
Year Built 1978
Property Type Residential Income
Zoning R3
Listing Number SN24101772
Listed 5/20/2024
Modified 7/19/2024
Listing Agent John Barroso
Listing Office Parkway Real Estate Co.
Total Building 2
Total Units 5

Property Features

# Electric Meters
  • 5
# Gas Meters
  • 5
# Units Leased
  • 4
# Water Meters
  • 1
  • Living Room
Garage Spaces
  • 0.00
Gross Income
  • 83721.90
Gross Operating Income
  • 81210.00
Gross Scheduled Income
  • 83721.90
  • Ceiling Fan(s)
Net Operating Income
  • 50970.30
Operating Expense
  • 30240.00
  • None
Price Pe rUnit
  • 230000
  • Composition
  • Public Sewer
  • None
  • 2
Total Actual Rent
  • 5740.00
Total Expenses
  • 30024.00
  • Neighborhood
Water Source
  • Public
Community Features
  • Curbs
  • Sidewalks
  • Central Air
  • Wall/Window Unit(s)
  • Laminate
  • Vinyl
  • Central
  • Wall Furnace