581 E. 5th Avenue Chico, CA 95926

$850,000 Pending

About the Property

This well-maintained apartment complex consists of nine 1-bedroom/1 bath units, and one 2 bedroom/ 1 bath unit. Each 1-bedroom unit has a fenced-in patio area with gravel landscaping, and the 2-bedroom unit has a fenced in lawn area. Complex includes 16 onsite parking spaces and shared laundry facility. Located only about 1.5 miles from downtown, this complex has great cash flow and rental history. In the past 3-4 years most of the siding has been replaced, all windows have been retrofitted, all front doors have been replaced, and 9 out of 10 units have had new flooring, paint, and plumbing fixtures.

Property Information

Size 5,568 SqFt
Price/SqFt $153
Lot Size 0.56 Acres
Year Built 1961
Property Type Residential Income
Listing Number CH17217379
Listed 9/25/2017
Modified 10/11/2017
Listing Agent Brandon Siewert
Listing Office Century 21 Jeffries Lydon
Total Building 1
Total Units 10

Property Features

# Electric Meters
  • 11
# Gas Meters
  • 11
# Units Leased
  • 10
# Water Meters
  • 1
Community Features
  • Street Lighting
Fireplace
  • None
Garage Spaces
  • 0.00
Gross Income
  • 80068.30
Gross Scheduled Income
  • 80068.00
Heating
  • Wall Heater
Levels
  • One
Net Operating Income
  • 64130.75
Operating Expense
  • 15937.60
Parking Total
  • 16.00
Pool
  • None
StoriesTotal
  • 1
Tenant Pays
  • Electricity
Total Expenses
  • 15937.63
Utilities
  • Water Connected
Water Source
  • Public
Cooling
  • Wall Window
  • Electric