441 W 2nd Avenue Chico, CA 95926

$1,025,000 Pending

About the Property

441 W. 2nd Avenue is a turn-key fourplex ideally located in the heart of Chico, CA. Most notably, the property is walking distance to CSUC (0.5 miles) and Enloe Hospital (0.4 mi), allowing for flexibility in student and non student rental demand. The building is comprised of (four) four-bedroom, two-bathroom floor plans boasting 1,287 SF each with full size washer and dryer in each unit. The property's strong operating history, minimal deferred maintenance and below market rents will allow a new owner the ability to take ownership of a turn-key building and move rents to market without the headache of major capital improvements.

Property Information

Size 5,148 SqFt
Price/SqFt $199
Lot Size 0.22 Acres
Year Built 1986
Property Type Residential Income
Zoning R3
Listing Number SN22219119
Listed 9/30/2022
Modified 11/16/2022
Listing Agent Spencer Moyer
Listing Office Alive Commercial Real Estate
Total Building 1
Total Units 4

Property Features

# Electric Meters
  • 4
# Gas Meters
  • 4
# Water Meters
  • 1
Cap Rate
  • 5.18
Cooling
  • Central Air
Garage Spaces
  • 0.00
Gross Income
  • 2880.00
Gross Operating Income
  • 81014.00
Gross Scheduled Income
  • 83520.00
Heating
  • Central
Net Operating Income
  • 53109.00
Operating Expense
  • 30785.00
Pool
  • None
Price Pe rUnit
  • 256250
Sewer
  • Public Sewer
Total Expenses
  • 30785.00
Utilities
  • Sewer Connected
Water Source
  • Public
Tenant Pays
  • Electricity
  • Gas
Community Features
  • Biking
  • Foothills
  • Park