2672 White Avenue Chico, CA 95973

$625,000 Pending

About the Property

Turn-key Growth Opportunity in Chico! Independently conducted rental analysis: "Apartment building is $1,000/month under current market rents." Additionally, this 4-plex apartment has GREAT Curb Appeal - following extensive interior and exterior renovations! Renovations include new: roof, carpet, 6-panel interior doors, brushed nickel handles, fixtures, faucets, 3-color exterior paint, 2-color interior paint, 3" baseboard, blown attic insulation, water heaters, seal coated parking lot, landscaping, 100 feet of new fencing (stained) and most 30" ovens are new, and Large Capacity washer/dryer units are new. Two years ago, plumber replaced/upgraded all sink & toilet water valves. Storage supply room located in the back of building (estimated 5ft X 8ft). Large 2 Bedroom Apartment leases include smoke free, drug free, pet free policies, and are leased thru 12/31/2020. Tenants enjoy relaxing in the spacious grassy private backyard, gardening in their planter boxes, or walking to the movies and popular eateries.

Property Information

Size 3,640 SqFt
Price/SqFt $172
Lot Size 25 Acres
Year Built 1985
Property Type Residential Income
Zoning CITY
Listing Number TR19217151
Listed 9/11/2019
Modified 9/19/2019
Listing Agent Jonathan Minerick
Listing Office Homecoin.com
Total Building 1
Total Units 4

Property Features

# Electric Meters
  • 4
# Gas Meters
  • 4
# Units Leased
  • 4
# Water Meters
  • 4
Cap Rate
  • 5.54
Electric
  • Standard
Garage Spaces
  • 0.00
Gross Income
  • 44280.00
Gross Operating Income
  • 43837.00
Gross Scheduled Income
  • 44280.00
Levels
  • Two
Net Operating Income
  • 34628.00
Operating Expense
  • 9209.00
Other Structures
  • Storage
Parking Total
  • 8.00
Pool
  • None
Price Pe rUnit
  • 156250
Sewer
  • Public Sewer
Spa
  • None
StoriesTotal
  • 2
Total Actual Rent
  • 3690.00
Total Expenses
  • 9209.00
Uncovered Spaces
  • 8.00
Water Source
  • Public
Accessibility Features
  • Parking
  • See Remarks
Cooling
  • Central Air
  • Electric
Exterior
  • Lighting
  • Rain Gutters
Flooring
  • Carpet
  • Vinyl
Heating
  • Central
  • Natural Gas
Interior
  • Living Room Deck Attached
  • Open Floorplan
Roofing
  • Composition
  • See Remarks
Fencing
  • New Condition
  • See Remarks
  • Wood
Tenant Pays
  • Cable TV
  • Electricity
  • Gas
Construction Materials
  • Blown-In Insulation
  • Brick Veneer
  • Drywall Walls
  • Stucco
Community Features
  • Biking
  • Hiking
  • Sidewalks
  • Street Lights
  • Suburban
Appliances
  • Dishwasher
  • Electric Oven
  • Electric Cooktop
  • Gas Water Heater
  • Refrigerator
  • Vented Exhaust Fan
Utilities
  • Cable Available
  • Electricity Connected
  • Natural Gas Connected
  • Phone Connected
  • Sewer Connected
  • Underground Utilities
  • Water Connected