429 W 4th Street Chico, CA 95928

$860,000 Active

About the Property

Amazing opportunity! 429 W 4th St is a two story fraternity house and a separate studio. The historic 1907 home includes unit A and unit B. Unit A has 4 bedrooms and 2 bathrooms: three bedrooms and a bathroom upstairs and one bedroom and a bathroom downstairs. Downstairs there is also a living room, dining room, kitchen and large storage closet as well. Unit B is in the basement of the home and has three bedrooms and a bathroom. There is also a kitchen, and living area as well. Members of a reputable "dry" fraternity have been renting units A & B every year for over 10 years. Members of the fraternity pay rents to the fraternity and the fraternity pays the owner on time every time. Also on the property is a detached studio that rents consistently to other tenants, usually college students. This well maintained property is in a prime location: 2 blocks from Chico State University, 2 blocks from Downtown Chico, restaurants, shops, bars, farmers market, and Bidwell Park. The vacancy rate is 0% for units A,B & C. This property has been well maintained over the 20+ years that the current owners have owned it. There are 9 off street parking spaces, which are coveted in that area of town. Low-maintenance grounds make the property easy to care for and keep costs low. Tenants appreciate the on-site laundry which is located in a room on the back porch of unit A. Three electric meters and three gas meters make it easy for billing, and tenants pay their own utilities.

Property Information

Size 3,512 SqFt
Price/SqFt $245
Lot Size 0.19 Acres
Year Built 1907
Property Type Residential Income
Zoning R3
Listing Number SN22226889
Listed 10/21/2022
Modified 1/16/2023
Listing Agent Emmett Jacobi
Listing Office Century 21 Select Real Estate, Inc.
Total Building 2
Total Units 3

Property Features

# Electric Meters
  • 3
# Gas Meters
  • 3
# Units Leased
  • 3
# Water Meters
  • 1
Accessibility Features
  • 2+ Access Exits
Cap Rate
  • 5.75
Carport Spaces
  • 0.00
  • Wall/Window Unit(s)
  • Rain Gutters
  • Wood
  • None
Garage Spaces
  • 0.00
Gross Income
  • 66180.00
Gross Scheduled Income
  • 66180.00
  • Three Or More
Net Operating Income
  • 49493.00
Operating Expense
  • 16687.00
Parking Total
  • 9.00
  • None
Price Pe rUnit
  • 286667
  • Composition
  • Public Sewer
  • None
  • 3
  • Victorian
Tenant Pays
  • All Utilities
Total Actual Rent
  • 5515.00
Total Expenses
  • 16687.00
Uncovered Spaces
  • 9.00
  • Neighborhood
Water Source
  • Public
  • Natural Gas
  • Wall Furnace
  • Gas Range
  • Refrigerator
  • Water Heater
Construction Materials
  • Drywall Walls
  • Lap Siding
  • Shingle Siding
  • Carpet
  • Vinyl
  • Wood
  • Ceiling Fan(s)
  • High Ceilings
  • Tile Counters
  • Electricity Connected
  • Natural Gas Connected
  • Sewer Connected
  • Water Connected
Community Features
  • Biking
  • Curbs
  • Hiking
  • Gutters
  • Park
  • Sidewalks
  • Storm Drains
  • Street Lights
  • Urban