1501 W 3rd Street Chico, CA 95928

$670,000 Closed

About the Property

Please Note: This property has been SOLD

Your Dream Investment Awaits: Meet the Multi-Unit Marvel Near Chico State! Hello Investors and Real Estate Enthusiasts! Allow me to introduce myself. I'm a charming multi-unit residential property positioned perfectly near Chico State University and the bustling downtown scene, but I'm not just a property; I'm your next portfolio game-changer. I offer four unique units for diverse income; My Front House (Unit #1) is a spacious 5-bedroom, 2-bathroom haven, perfect for roommates who want to balance study and play— With a more intimate 2-bedroom, 2-bath (unit #2) in the lower level. Unit #3 is a freestanding cottage featuring 3 bedrooms and 2 baths, this little gem offers a private fenced yard. Last but not, Unit #4— My 4-bedroom, 2-bath unit, which blends comfort and convenience, rounding out the quartet beautifully. Parking? Plenty! Say goodbye to the parking hunt. I offer ample off-street spots for cars, bikes, and scooters alike. Bonus Cash Flow? My Coin-Op laundry room does more than clean clothes—it adds to your income stream. Think of it as a mini-business within your investment. With a gross annual income of $75,600 and leases already set for the school year, I’m not just attractive—I make financial sense. I'm a turnkey operation, ready to add significant numbers to your bottom line. Come see for yourself why students love living here and why you'll love owning me! Call Your Realtor Today! I'm ready to meet you—are you ready to meet your next great investment?

Property Information

Size 5,575 SqFt
Price/SqFt $120
Lot Size 0.31 Acres
Year Built 1975
Property Type Residential Income
Zoning R3
Listing Number SN23165776
Listed 9/6/2023
Modified 3/26/2024
Listing Agent Steve Depa
Listing Office Re/Max of Chico
Total Building 3
Total Units 4

Property Features

# Electric Meters
  • 5
# Gas Meters
  • 5
# Water Meters
  • 1
Community Features
  • Sidewalks
Garage Spaces
  • 0.00
Gross Income
  • 6300.00
Gross Scheduled Income
  • 75600.00
  • Wall Furnace
Net Operating Income
  • 59454.00
Operating Expense
  • 16146.00
  • None
Price Pe rUnit
  • 187500
  • Public Sewer
  • 1
Total Expenses
  • 16146.00
Water Source
  • Public
  • Evaporative Cooling
  • Wall/Window Unit(s)