23 Morning Rose Way Chico, CA 95928

$469,000 Active Under Contract

About the Property

Chico is in high demand for rentals. A solid cap rate of 4%, with a real upside - as the rents should total $3,200 per mo. as per local property manager. This duplex is upscale, with open concept living areas, big kitchens with lots of storage and counter space, granite counters throughout, your own stack laundry, private and fenced little yards and private garages. All appliances stay. You do not need to hold back money - to fix up these units. This duplex is move-in ready, having been nicely maintained and being just 9 years old. All systems are go for the plumbing, electrical, roofing, heat and air, solar panels and landscaping. These do not feel like rentals. The lower unit feels like a one story home. The upper unit has a spacious, ground level entry hall, with a big storage closet and garage access with a nice interior stairway to the upper living space. Good location is near regional shopping center, freeway access, popular Bidwell Park and Marsh Jr High. Leased Tesla solar for both units, makes electricity very affordable. You buy your electric from Tesla, for less than cost of PGE - no other fee. Both units are now rented, one tenant has been there for 9 years. Leases could be up June 14th and July 22nd. Rents could go up. These beautiful homes with low maintenance inside and out, are for sale at under $205 per sq. ft. Where can you find a fully loaded, 2010 built home, in Chico, for that price? This is private property! NO HOA!

Property Information

Size 2,291 SqFt
Price/SqFt $205
Lot Size 0.13 Acres
Year Built 2010
Property Type Residential Income
Listing Number SN19044159
Listed 4/4/2019
Modified 4/24/2019
Listing Agent Susie Stephens
Listing Office Chico Real Estate, Inc
Total Building 1
Total Units 2

Property Features

# Electric Meters
  • 2
# Gas Meters
  • 2
# Units Leased
  • 2
# Water Meters
  • 2
Cap Rate
  • 4.00
Community Features
  • Suburban
Construction Materials
  • Stucco
Cooling
  • Central Air
Electric
  • Electricity - On Property
Fireplace
  • None
Garage Spaces
  • 2.00
Gross Income
  • 31380.00
Gross Scheduled Income
  • 31380.00
Levels
  • Two
Net Operating Income
  • 17534.00
Operating Expense
  • 13846.00
Parking Total
  • 2.00
Pool
  • None
Roofing
  • Shingle
Sewer
  • Public Sewer
Spa
  • None
StoriesTotal
  • 2
Style
  • Contemporary
Total Expenses
  • 13846.00
Views
  • Neighborhood
Water Source
  • Public
Flooring
  • Carpet
  • Laminate
Heating
  • Central
  • Forced Air
Accessibility Features
  • 2+ Access Exits
  • 32 Inch Or More Wide Doors
  • Doors - Swing In
Tenant Pays
  • Electricity
  • Gas
  • Telephone
Appliances
  • Dishwasher
  • Free-Standing Range
  • Disposal
  • Gas Range
  • Microwave
Utilities
  • Cable Available
  • Electricity Connected
  • Natural Gas Connected
  • Sewer Connected
  • Underground Utilities
  • Water Connected
Interior
  • Ceiling Fan(s)
  • Copper Plumbing Full
  • Granite Counters
  • Open Floorplan
  • Pantry
  • Storage
  • Track Lighting