739 W 3rd Street Chico, CA 95928

$950,000 Closed
  • Unit #1
  • Unit #2
  • Unit #3
  • Unit #4
  • Unit #5

About the Property

Please Note: This property has been SOLD

Rare opportunity to own a 5-unit boutique multi-family property located in the most prime student housing neighborhood that Chico has to offer. Student properties that are located from West 2nd St. to West 5th St and from Normal St. to Orange St., this area makes up what is called the “Golden Rectangle” of Chico student housing. This is the most in-demand location for student housing and thus offers the highest income potential in the area. This property offers the easiest walk to Chico State, Historic Downtown Chico, the best college bar in America; Rileys Bar, multiple fraternities & sororities, fantastic local restaurants, coffee shops, and the location for both Thursday and Saturday Farmer’s Markets. Many students live in this neighborhood and don’t need a car because they can walk and bike almost anywhere that they need to go. It’s almost 100% student housing, but the advantages are that you have a constant steady flow of renters. The current owner just completed an extensive remodel of the larger three-bedroom, one-bath unit in September of 2022. This remodel was complete with new paint, flooring, countertops, HVAC system, fixtures, and more. The three-bedroom is the newest of the remodeled units, but the entire property has been well-maintained and is ready for its new owners. Call your favorite realtor and set up a tour!

Property Information

Size 3,327 SqFt
Price/SqFt $286
Lot Size 0.08 Acres
Year Built 1908
Property Type Residential Income
Zoning CITY
Listing Number SN22217021
Listed 9/29/2022
Modified 4/7/2023
Listing Agent Brent Silberbauer
Listing Office eXp Realty of California, Inc.
Total Building 1
Total Units 5

Property Features

# Electric Meters
  • 5
# Gas Meters
  • 5
# Water Meters
  • 1
Cap Rate
  • 4.76
Electric
  • 220 Volts in Laundry
Fencing
  • Chain Link
Fireplace
  • None
Flooring
  • Laminate
Garage Spaces
  • 0.00
Gross Income
  • 83760.00
Gross Operating Income
  • 83760.00
Gross Scheduled Income
  • 83760.00
Levels
  • Two
Net Operating Income
  • 52151.00
Operating Expense
  • 29096.00
Parking Total
  • 2.00
Pool
  • None
Price Pe rUnit
  • 219000
Roofing
  • Composition
Sewer
  • Public Sewer
Spa
  • None
StoriesTotal
  • 2
Total Expenses
  • 29096.00
Uncovered Spaces
  • 2.00
Views
  • Neighborhood
Water Source
  • Public
Exterior
  • Lighting
  • Rain Gutters
Heating
  • Forced Air
  • Wall Furnace
Tenant Pays
  • Electricity
  • Gas
Cooling
  • ENERGY STAR Qualified Equipment
  • High Efficiency
  • Wall/Window Unit(s)
Community Features
  • Curbs
  • Gutters
  • Sidewalks
  • Storm Drains
  • Street Lights
Utilities
  • Cable Available
  • Electricity Connected
  • Phone Available
  • Sewer Connected
  • Water Connected
Interior
  • Ceiling Fan(s)
  • Granite Counters
  • High Ceilings
  • Laminate Counters
  • Recessed Lighting
  • Storage
Appliances
  • Dishwasher
  • Electric Oven
  • Electric Range
  • Free-Standing Range
  • Gas & Electric Range
  • Gas Oven
  • Gas Range
  • Microwave
  • Refrigerator
  • Self Cleaning Oven
  • Water Heater