739 W 3rd Street Chico, CA 95928

$615,000 Pending

About the Property

Location couldn't be better for this 5plex with amazing potential. Unit mix is made up of two 3 bedroom, 2 bath units, and three studio units. Current rents are extremely under market and property is in need of repairs and upgrades. This location, is 1 block south of Chico State and practically leases itself. With some rehab and repair this property could truly be an amazing investment. Other nearby and upgraded properties rent for $600-$700/bedroom. See attached financials for more details.

Property Information

Size 3,327 SqFt
Price/SqFt $185
Lot Size 0.08 Acres
Year Built 1908
Property Type Residential Income
Zoning CITY
Listing Number SN17266837
Listed 11/30/2017
Modified 12/2/2017
Listing Agent Ryan Vaught
Listing Office Ryno Company
Total Building 1
Total Units 5

Property Features

# Electric Meters
  • 5
# Gas Meters
  • 5
# Units Leased
  • 4
# Water Meters
  • 1
Cap Rate
  • 5.59
Community Features
  • Urban
Garage Spaces
  • 0.00
Gross Income
  • 4475.00
Gross Operating Income
  • 52089.00
Gross Scheduled Income
  • 53700.00
Levels
  • Two
Net Operating Income
  • 34404.00
Operating Expense
  • 17685.00
Pool
  • None
StoriesTotal
  • 2
Total Actual Rent
  • 4475.00
Total Expenses
  • 17685.00
Water Source
  • Public