533 Orange Street Chico, CA 95928

$2,525,000 Active

About the Property

Welcome to Portland Place, a meticulously crafted, 2014-constructed multifamily property located in the heart of Chico, CA. The community consists of (8) large, three-bedroom three-bathroom floor plans with approximately 1,346 square feet each. Each unit is equipped with a full size washer and dryer, attached garage, private balcony and climate controlled heating and air conditioning. The combination of these interior/exterior attributes resulted in the reputable "AEP Span Project of the Year" award in 2015 for its design, color, and contribution to the university community. Portland Place provides a new owner the opportunity to acquire truly unique, pride-of ownership asset with an attractive going-in yield.

Property Information

Size 10,772 SqFt
Price/SqFt $234
Lot Size 0.41 Acres
Year Built 2014
Property Type Residential Income
Zoning R3
Listing Number SN24208979
Listed 10/4/2024
Modified 11/4/2024
Listing Agent Spencer Moyer
Listing Office Alive Commercial Real Estate
Total Building 2
Total Units 8

Property Features

# Electric Meters
  • 8
# Gas Meters
  • 8
# Units Leased
  • 8
# Water Meters
  • 1
Fireplace
  • None
Garage Spaces
  • 8.00
Gross Income
  • 220175.00
Gross Operating Income
  • 215515.00
Gross Scheduled Income
  • 222180.00
Heating
  • Central
Interior
  • 2 Staircases
Levels
  • Three Or More
Net Operating Income
  • 149510.00
Operating Expense
  • 70665.00
Parking Total
  • 8.00
Pool
  • None
Price Pe rUnit
  • 315625
Sewer
  • Public Sewer
StoriesTotal
  • 3
Total Actual Rent
  • 18515.00
Total Expenses
  • 70665.00
Water Source
  • Public
Cooling
  • Central Air
  • Dual
Flooring
  • Carpet
  • Laminate
  • Vinyl
Utilities
  • Electricity Connected
  • Sewer Connected
  • Water Connected
Community Features
  • Biking
  • Foothills
  • Hiking
  • Sidewalks
  • Street Lights