1842 Arcadian Avenue Chico, CA 95926

$1,290,000 Closed

About the Property

Please Note: This property has been SOLD

Incredible Investment Opportunity ahead!! This is a rare investment offering featuring not just one, but two strategically positioned 4-plex units, poised for immediate returns and substantial future growth. This unique property presents many enticing possibilities for savvy investors and is teeming with potential! Nestled in a tranquil enclave near Enloe Hospital, this property boasts a quiet and desirable location, providing residents with proximity to healthcare facilities, charming restaurants, cozy coffee shops, Historic Downtown Chico, and Chico State University. As a testament to ongoing care and investment, the property features newer appliances in select units, one entirely upgraded model, a fresh exterior paint job, and a brand-new parking lot. These enhancements contribute to the overall attractiveness and functionality of the property. This property's expansive back area allows for the addition of up to four Accessory Dwelling Units (ADUs), further increasing rental capacity and revenue streams. Take advantage of the ability to improve and upgrade the units further, positing yourself for increased rental income and property appreciation. With multiple units and the potential for additional ADUs, this property offers diversified income streams, mitigating risk and enhancing overall investment stability. Whether you're a seasoned investor looking to add to your portfolio or a newcomer seeking a solid entry point, this property is a promising canvas for your investment success. Seize the moment and make this exceptional property yours! Contact us today for more details and to schedule a private viewing!

Property Information

Size 5,600 SqFt
Price/SqFt $230
Lot Size 0.38 Acres
Year Built 1963
Property Type Residential Income
Zoning R1
Listing Number SN23231163
Listed 12/26/2023
Modified 2/9/2024
Listing Agent Brent Silberbauer
Listing Office eXp Realty of California, Inc.
Total Building 2
Total Units 8

Property Features

# Electric Meters
  • 8
# Gas Meters
  • 8
# Units Leased
  • 8
# Water Meters
  • 2
Cap Rate
  • 4.44
  • Wall/Window Unit(s)
  • Wood
  • None
Garage Spaces
  • 0.00
Gross Income
  • 115973.00
Gross Scheduled Income
  • 115973.00
  • Wall Furnace
  • Two
Net Operating Income
  • 62986.00
Operating Expense
  • 48348.00
  • None
Price Pe rUnit
  • 174375
  • Composition
  • Public Sewer
  • None
  • 2
Total Actual Rent
  • 9142.00
Total Expenses
  • 49393.00
  • Neighborhood
Water Source
  • Public
  • Carpet
  • Laminate
Tenant Pays
  • Cable TV
  • Electricity
Community Features
  • Curbs
  • Gutters
  • Sidewalks
  • Storm Drains
  • Street Lights
  • Suburban
  • Cable Available
  • Electricity Connected
  • Natural Gas Connected
  • Phone Available
  • Sewer Connected
  • Water Connected
  • Electric Oven
  • Electric Range
  • Free-Standing Range
  • Range Hood
  • Self Cleaning Oven
  • Vented Exhaust Fan
  • Water Heater