2568 Esplanade Chico, CA 95973

$385,000 Active

About the Property

Panama Springs is a six unit multi unit featuring four studios, one one bedroom unit and one three bedroom that currently serves as the residence/office for the on site manager. Also included is a spacious laundry room with washer and dryer included inside. This property rarely sees turnover as most all residents have been very long term. Property is easily visible from the Esplanade and near shopping and restaurants. In addition to the six units at 2568 Esplanade there is the option to purchase the neighboring 13 unit property, 155 Panama Avenue. Together these two lots make an L shape behind the commercial building on the corner of Esplanade and Panama.

Property Information

Size 3,360 SqFt
Price/SqFt $115
Lot Size 0.16 Acres
Year Built 1950
Property Type Residential Income
Listing Number CH17217927
Listed 8/28/2017
Modified 10/2/2017
Listing Agent Larry Ruby
Listing Office Sheraton Investment Services
Total Building 1
Total Units 6

Property Features

# Electric Meters
  • 1
# Gas Meters
  • 1
# Units Leased
  • 6
# Water Meters
  • 1
Carport Spaces
  • 0.00
Fireplace
  • None
Garage Spaces
  • 0.00
Gross Income
  • 47400.00
Gross Scheduled Income
  • 47400.00
Interior
  • Ceiling Fan
Levels
  • One
Net Operating Income
  • 31550.00
Operating Expense
  • 15850.00
Parking Total
  • 1.00
Pool
  • None
Roofing
  • Composition
Sewer
  • Conventional Septic
Spa
  • None
StoriesTotal
  • 1
Tenant Pays
  • Cable TV
Total Actual Rent
  • 3950.00
Total Expenses
  • 15850.00
Uncovered Spaces
  • 1.00
Water Source
  • Public
Cooling
  • Wall Window
  • Electric
Flooring
  • Carpet
  • Vinyl
Heating
  • Wall Heater
  • Natural Gas
Community Features
  • Curbs
  • Gutters
  • Sidewalks
Utilities
  • Cable Available
  • Phone Available
  • Water Connected
Appliances
  • Freezer
  • Gas Oven
  • Gas Range
  • Gas Water Heater
  • Range/Stove Hood