626 W 1st Avenue Chico, CA 95926

$1,575,000 Closed

About the Property

Please Note: This property has been SOLD

Located only a few blocks from Chico State University, this nice, clean 16 unit building is currently 100% occupied and has solid history of nearly zero vacancy. The quiet and private design with center courtyard, plenty of off-street tenant parking, onsite laundry room and the functionally designed units add to the desirability of the property from not only an ownership perspective, but also from the tenant base as well. The location also provides tenants with easy walking or biking to many restaurants, a large grocery center and downtown Chico, in addition to the University. The continued strength of the Chico rental market means there is significant upside for rents, making this is an incredible opportunity to add a quality property to your portfolio. **OWNER WILL FINANCE WITH VERY REASONABLE TERMS FOR QUALIFIED INVESTORS**

Property Information

Size 13,824 SqFt
Price/SqFt $114
Lot Size 0.76 Acres
Year Built 1966
Property Type Residential Income
Zoning R3
Listing Number SN19216306
Listed 9/10/2019
Modified 1/17/2020
Listing Agent Dan Bosch
Listing Office Re/Max of Chico
Total Building 1
Total Units 16

Property Features

# Electric Meters
  • 16
# Gas Meters
  • 16
# Units Leased
  • 16
# Water Meters
  • 1
Garage Spaces
  • 0.00
Gross Income
  • 166380.00
Gross Scheduled Income
  • 166380.00
  • Two
Net Operating Income
  • 99828.00
Operating Expense
  • 66552.00
  • None
  • Public Sewer
  • 2
Total Expenses
  • 66552.00
Water Source
  • Public
Community Features
  • Curbs
  • Storm Drains