47 Tara Terrace Chico, CA 95973

$6,340,000 Pending

About the Property

INCREDIBLE RESIDENTIAL INCOME INVESTMENT OPPORTUNITY! Centrally located, in a great neighborhood, close to shopping, a main bike path, and public transportation, the Subject Property consists of 21 individual duplexes, situated on 20 contiguous, separate legal parcels, all connected to City services, on its’ own street/loop, with no HOA. Built in the late 80’s, (with the exception of a couple newer units), and owned by the same family since new, the Subject has a balanced mix of both one story and two story buildings , and units vary in size and configuration: 20 units are 2 bed/1.5 bath, 18 units are 2 bed/1 bath, 1 unit is 3 bed/2.5 baths and 3 units are 3 bed/1.5 baths. There is also a nicely upgraded, 2-story Managers unit, that consists of 3 beds /2.5 baths, open living space, and a small office with its’ own private entrance and attached storage room used for conducting the property management duties for the complex. All Units have enclosed garages with washer/dryer hookups. Units have central heat and air, mature landscaping, and front and back yards. Currently fully leased, with a history of long-term tenants, low vacancy rates and regular maintenance makes this an extremely rare offering, and amazing investment opportunity.

Property Information

Size 41,776 SqFt
Price/SqFt $152
Lot Size 4.5 Acres
Year Built 1988
Property Type Residential Income
Listing Number SN18071836
Listed 3/27/2018
Modified 12/7/2018
Listing Agent Rodney Krebs
Listing Office Coldwell Banker/DuFour
Total Building 21
Total Units 42

Property Features

# Electric Meters
  • 42
# Gas Meters
  • 42
# Units Leased
  • 42
# Water Meters
  • 21
Construction Materials
  • Drywall Walls
Cooling
  • Central
Electric
  • 220V In Garage
Exterior
  • Rain Gutters
Fireplace
  • None
Garage Spaces
  • 42.00
Gross Income
  • 464935.00
Gross Scheduled Income
  • 464935.00
Heating
  • Central Furnace
Levels
  • One
Operating Expense
  • 178260.00
Parking Total
  • 42.00
Pool
  • None
Roofing
  • Composition
Sewer
  • Public Sewer
Spa
  • None
Views
  • Neighborhood
Water Source
  • Public
Fencing
  • Average Condition
  • Wood
Tenant Pays
  • All Utilities
  • See Remarks
Flooring
  • Carpet
  • Laminate
  • Vinyl
Appliances
  • Electric Oven
  • Electric Range
  • Garbage Disposal
  • Gas Water Heater
  • Refrigerator
Community Features
  • Curbs
  • Gutters
  • Sidewalks
  • Storm Drains
  • Street Lighting
Utilities
  • Electricity Connected
  • Natural Gas Connected
  • Phone Connected
  • Sewer Connected
  • Underground Utilities
  • Water Connected