1502 N Cherry Street Chico, CA 95926

$715,520 Closed

About the Property

Please Note: This property has been SOLD

This 8 unit complex is in a great location within close proximity to Chico State University, Enloe Hospital and downtown Chico. The excellent location provides for a very broad tenant base and translates to an extremely solid rental history. Low maintenance stucco exterior, onsite laundry facility and abundant off-street parking add to the appeal as well. Property is under professional management, is fully occupied and ready for an easy transition to new owner... **Long term tenants reside in a number of the units and currently have lower than market rents as a result. There is significant upside on rents for future owner.

Property Information

Size 6,520 SqFt
Price/SqFt $110
Lot Size 0.46 Acres
Year Built 1973
Property Type Residential Income
Zoning R3
Listing Number SN18066053
Listed 3/23/2018
Modified 5/18/2018
Listing Agent Daniel Bosch
Listing Office Re/Max of Chico
Total Building 1
Total Units 8

Property Features

# Electric Meters
  • 8
# Gas Meters
  • 8
# Units Leased
  • 8
# Water Meters
  • 1
Garage Spaces
  • 0.00
Gross Income
  • 64788.00
Gross Scheduled Income
  • 64788.00
  • Central Furnace
  • One
Net Operating Income
  • 45748.60
Operating Expense
  • 19039.40
  • None
  • 1
Total Actual Rent
  • 5399.00
Total Expenses
  • 19039.48
Water Source
  • Public
Community Features
  • Curbs
  • Gutters
  • Storm Drains