117 W 18th Street Chico, CA 95928

$429,000 Pending

About the Property

Turn-key GROWTH opportunity in Chico with a hard to find duplex! Current rents are significantly below market rates. This is the upside potential investment that you have been looking for. With this tight rental market, finding renters will not be a challenge. The main house is 3 bedrooms/ 2 bath with a large living room, large kitchen, washer/dryer (included), and private fenced backyard. Approximately 1090 square feet. Both bathrooms have been nicely updated along with a clean kitchen. The low maintenance modern (2003) back unit is 2 bedrooms /1 bath with all the normal amenities including a washer/dryer and sits above a 3 car garage. Approximately 814 square feet The 3 car garage is divided into a 2 stall portion used by the main house and the 1 car stall that is used by the 2/1 apartment. Low maintenance front yard. Backyards are hardscaped and fenced individually for each tenant. Great rental history with a fantastic potential upside for increasing rents over time. This is an investment that pencils. In this market every move matters There are two 3D tours for you to view. https://my.matterport.com/show/?m=DdkrBdTFBLh&brand=0 and https://my.matterport.com/show/?m=dNZKh2v4jkM&brand=0

Property Information

Size 1,904 SqFt
Price/SqFt $225
Lot Size 0.14 Acres
Year Built 1926
Property Type Residential Income
Zoning RD-1
Listing Number SN20220508
Listed 10/19/2020
Modified 11/10/2020
Listing Agent Matthew Herman
Listing Office Keller Williams Realty Chico Area
Total Building 2
Total Units 2

Property Features

# Electric Meters
  • 2
# Gas Meters
  • 2
# Water Meters
  • 1
Cap Rate
  • 5.50
Cooling
  • Central Air
Electric
  • 220 Volts For Spa
Garage Spaces
  • 3.00
Gross Income
  • 24000.00
Gross Scheduled Income
  • 24000.00
Net Operating Income
  • 17958.00
Operating Expense
  • 6042.00
Parking Total
  • 3.00
Pool
  • None
Spa
  • None
StoriesTotal
  • 1
Style
  • Bungalow
Total Expenses
  • 6042.00
Water Source
  • Public
Fencing
  • Privacy
  • Wood
Heating
  • Central
  • Natural Gas
Levels
  • One
  • Two
Sewer
  • Public Sewer
  • Sewer Paid
Flooring
  • Carpet
  • Laminate
  • Tile
Interior
  • Ceiling Fan(s)
  • Formica Counters
  • Pantry
Tenant Pays
  • All Utilities
  • Cable TV
  • Electricity
  • Gas
Community Features
  • Biking
  • Gutters
  • Park
  • Sidewalks
  • Storm Drains
Appliances
  • Dishwasher
  • Electric Oven
  • Electric Range
  • Electric Cooktop
  • Gas Water Heater
  • Microwave
  • Refrigerator
  • Water Heater
Utilities
  • Cable Available
  • Cable Connected
  • Electricity Available
  • Electricity Connected
  • Natural Gas Available
  • Natural Gas Connected
  • Water Available
  • Water Connected