719 Chestnut Street Chico, CA 95928

$2,350,000 Active

About the Property

This premier student property consists of 6 newer and recently upgraded luxury units located on a popular corner near CSU Chico and downtown Chico, CA. This property is 2 lots with a combined 3 buildings, 24 bedrooms and 16 bathrooms! Street address is 719 & 705 Chestnut and 447 W 7th Street. Each building has 2 units. 2 units are brand new 4bed 4bath, the rest are upgraded 4bed 2bath. 4 units have mini split heat/ac allowing each roommate to control their room. These units feature granite counters, wood style plank flooring, stainless appliances and washer/dryers in most units with a laundry room on site for those without. Units have kitchens equipped with range, microwave, stove and refrigerator. Property is near bus routes, and within a short distance to downtown, CSU Chico, restaurants, shopping and convenience stores. Property is fully leased through 2021, professionally managed.

Property Information

Size 6,000 SqFt
Price/SqFt $392
Lot Size 0.18 Acres
Year Built 2019
Property Type Residential Income
Zoning R3
Listing Number SN20072549
Listed 4/14/2020
Modified 4/14/2020
Listing Agent Ryan Vaught
Listing Office Ryno Company
Total Building 3
Total Units 6

Property Features

# Electric Meters
  • 6
# Gas Meters
  • 6
# Water Meters
  • 4
Community Features
  • Urban
Fireplace
  • None
Garage Spaces
  • 0.00
Gross Income
  • 15695.00
Gross Scheduled Income
  • 188340.00
Levels
  • Two
Net Operating Income
  • 130030.00
Operating Expense
  • 54543.00
Pool
  • None
Sewer
  • Public Sewer
StoriesTotal
  • 2
Tenant Pays
  • Electricity
Total Expenses
  • 54543.00
Water Source
  • Public