1252 Warner Street Chico, CA 95926

$1,295,000 Active

About the Property

What’s better than predictable cash flow in a fast-growing town? Don’t hesitate to act on this solid income-producing asset which has been able to grow rents year over year, every single year, for the last 3 years. Impeccable interior remodel allows tenants to live in luxury, without paying luxury prices. Absolutely turnkey and low maintenance, Water-efficient landscape, and minimal owner-payed PGE bill keeps expenses minimal and predictable, dropping cold hard cash straight to your bottom line. Just blocks away from Enloe hospital, Chico State, restaurants, and shopping. The scarcity of affordable studios, and sharply increasing demand makes this property a trophy asset that cannot be replicated. Due to recent events in surrounding locations, increased demand for housing in Chico, combined with hindered supply, provides even more upward lift for future rent growth. The recession-resistant Chico rental market has 2 colleges, the biggest hospital north of Sacramento, and a budding tech and startup scene. Chico is a hidden gem of California, and is an ultra-attractive destination for young professionals and families moving outside of cities, seniors looking for a glorious retirement location, as well as students looking for an unparalleled college experience. Do not miss the opportunity to get in on a cash-flowing hard asset of this caliber that will pay dividends for years and years regardless of election and economic turbulence.

Property Information

Size 3,983 SqFt
Price/SqFt $325
Lot Size 0.22 Acres
Year Built 1980
Property Type Residential Income
Zoning R3
Listing Number SN20211986
Listed 10/8/2020
Modified 10/9/2020
Listing Agent Matt Depa
Listing Office Re/Max of Chico
Total Building 1
Total Units 10

Property Features

# Electric Meters
  • 11
# Gas Meters
  • 11
# Water Meters
  • 1
Community Features
  • Sidewalks
Garage Spaces
  • 0.00
Gross Income
  • 8380.00
Gross Scheduled Income
  • 100560.00
Net Operating Income
  • 69993.00
Operating Expense
  • 30567.00
Pool
  • None
Sewer
  • Public Sewer
Total Expenses
  • 30567.00
Water Source
  • Public