1206 Palm Avenue Chico, CA 95926

$780,000 Closed

About the Property

Please Note: This property has been SOLD

This property consists of 13 units located in Chico CA. All apartments are downstairs one bedroom, one bath units. A laundry room is shared by all units located at the rear of the building. Units have kitchens equipped with range, stove and refrigerator. All units are occupied and leased on a month to month basis at $550. Property is near bus routes and within a short bike or walking distance to downtown Chico, shopping and grocery stores. Most tenants are long term and turnover is very low. All but one unit has their own utility meters. Currently being used for senior housing.

Property Information

Size 8,460 SqFt
Price/SqFt $92
Lot Size 0.49 Acres
Year Built 1976
Property Type Residential Income
Listing Number CH13116035
Listed 6/17/2013
Modified 11/12/2013
Listing Agent Ryan Vaught
Listing Office Ryno Company
Total Building 2
Total Units 13

Property Features

# Electric Meters
  • 13
# Gas Meters
  • 13
# Water Meters
  • 13
Cap Rate
  • 5.78
Community Features
  • Suburban
Garage Spaces
  • 0.00
Gross Income
  • 7200.00
Gross Scheduled Income
  • 86400.00
Levels
  • One
Net Operating Income
  • 45098.00
Operating Expense
  • 38710.00
Parking Total
  • 10.00
Pool
  • None
Utilities
  • Sewer Connected
Water Source
  • Public