635 Chestnut Street Chico, CA 95928

$389,950 Pending

About the Property

Two units on one lot within walking distance to Chico State. Having a walk score of 88 and a Bike score of 97 places this student housing investment in a very desirable area targeted by investors.The front unit is a well kept 2 bedroom, 1 bath historic Sears Catalog home with hardwood floors, charming front porch and indoor laundry. Current rent is $1,750/mo. Shared backyard. The second unit is a very nice condition studio with tile flooring, currently rented for $700/mo. Excellent rental history for both units.The photos of the house were taken prior to it being rented to current tenants Don't miss this unique investment opportunity.

Property Information

Size 1,196 SqFt
Price/SqFt $326
Lot Size 0.09 Acres
Year Built 1927
Property Type Residential Income
Zoning R3
Listing Number SN24074406
Listed 4/15/2024
Modified 4/30/2024
Listing Agent Ken Winslow
Listing Office Re/Max of Chico
Total Building 2
Total Units 2

Property Features

# Electric Meters
  • 1
# Gas Meters
  • 1
# Water Meters
  • 1
Appliances
  • Gas Range
Cap Rate
  • 5.50
Community Features
  • Suburban
Cooling
  • Wall/Window Unit(s)
Electric
  • 220 Volts in Laundry
Fireplace
  • None
Flooring
  • Wood
Garage Spaces
  • 0.00
Gross Income
  • 19408.00
Gross Scheduled Income
  • 29400.00
Levels
  • One
Net Operating Income
  • 21674.00
Operating Expense
  • 7726.00
Other Structures
  • Two On A Lot
Parking Total
  • 2.00
Pool
  • None
Price Pe rUnit
  • 194975
Roofing
  • Composition
Sewer
  • Public Sewer
StoriesTotal
  • 1
Style
  • Cottage
Tenant Pays
  • Electricity
Total Expenses
  • 7726.00
Uncovered Spaces
  • 2.00
Water Source
  • Public
Heating
  • Floor Furnace
  • Wall Furnace