420 W 4th St Chico, CA 95928

$1,799,000 Active Under Contract

About the Property

This is a once in a life time opportunity to acquire a unique portfolio of properties located less than 2 blocks from the heart of Chico State University and downtown Chico. This standout investment opportunity features four single-family homes, encompassing a total of six units across four parcels, and is an ideal choice for those looking to diversify their investment portfolio in the real estate sector. These four Victorian homes have housed students for many years. Properties include a large private parking lot as an extra bonus. Built to last, these homes include beautiful hardwood floors, intricate woodworking details, and timeless character. Upgrades have been made over the years to all of the homes. Two of the houses had basement conversions to create bedrooms and two homes have large unfinished basements for extra storage. There may be additional room for another ADU behind one of the homes (buyer to verify). The location in this sought-after neighborhood drives strong rental demand, thanks to its close proximity to essential amenities, schools, and transportation. This investment is perfectly suited for both seasoned and first-time investors, offering a unique blend of the stability and growth potential inherent in real estate, making it a valuable and sustainable addition to any investment portfolio.

Property Information

Size 7,894 SqFt
Price/SqFt $228
Lot Size 0.44 Acres
Year Built 1910
Property Type Residential Income
Listing Number SN23213806
Listed 11/18/2023
Modified 1/24/2024
Listing Agent Kimberly Shaffer
Listing Office Century 21 Select Real Estate, Inc.
Total Building 4
Total Units 6

Property Features

# Electric Meters
  • 6
# Gas Meters
  • 6
# Water Meters
  • 4
Garage Spaces
  • 0.00
Gross Income
  • 162000.00
Gross Scheduled Income
  • 166000.00
Net Operating Income
  • 117063.00
Operating Expense
  • 44937.00
Pool
  • None
Price Pe rUnit
  • 299833
Sewer
  • Public Sewer
StoriesTotal
  • 3
Total Expenses
  • 44937.00
Water Source
  • Public
Community Features
  • Curbs
  • Gutters
Levels
  • One
  • Two
  • Three Or More
  • Multi/Split