550 E 9th Street Chico, CA 95928

$900,000 Active Under Contract

About the Property

Prime investment opportunity with amazing cashflow potential!!! Welcome to your next lucrative investment venture! Nestled in a prime location just minutes away from downtown and the lower park, this apartment complex presents an unparalleled opportunity for savvy investors. This expansive property boasts a total of 10 bedrooms and 9 bathrooms, offering ample space and flexibility for tenants. Comprised of eight 1-bedroom/1-bathroom units and one 2-bedroom/1-bathroom unit, this complex caters to a variety of tenant needs, ensuring consistent occupancy and rental income. Residents will appreciate the convenience of shared laundry facilities on-site, enhancing the overall appeal and functionality of the property. With its strategic location and desirable unit mix, this investment property promises substantial cashflow potential, making it an attractive addition to any investment portfolio. Situated just minutes away from downtown amenities and the lower park, tenants enjoy easy access to shopping, dining, entertainment, and outdoor recreational activities, enhancing the property's desirability and marketability. Don't miss out on this incredible opportunity to capitalize on strong rental demand in a sought-after location

Property Information

Size 4,916 SqFt
Price/SqFt $183
Lot Size 0.26 Acres
Year Built 1963
Property Type Residential Income
Zoning R3
Listing Number SN24104431
Listed 5/2/2024
Modified 7/22/2024
Listing Agent Elizabeth Young
Listing Office Parkway Real Estate Co.
Total Building 2
Total Units 9

Property Features

# Electric Meters
  • 9
# Gas Meters
  • 9
# Water Meters
  • 9
Cap Rate
  • 7.00
Garage Spaces
  • 0.00
Gross Income
  • 87132.00
Gross Scheduled Income
  • 87132.00
Net Operating Income
  • 63593.10
Operating Expense
  • 23538.90
Parking Total
  • 5.00
Pool
  • None
Price Pe rUnit
  • 100000
Sewer
  • Public Sewer
StoriesTotal
  • 2
Total Actual Rent
  • 7261.00
Total Expenses
  • 23538.90
Uncovered Spaces
  • 5.00
Water Source
  • Public
Community Features
  • Biking
  • Park
  • Sidewalks
  • Urban