803 Normal Ave Street Chico, CA 95928

$635,000 Active

About the Property

Opportunity is knocking!! This 6 Bedroom, 4 Bathroom Duplex sits on the corner of W 8th St and Normal Ave, just a few blocks from the famous Riley's Bar, Chico State University, and historic Downtown Chico. The downstairs unit features 5 bedrooms, and 3 bathrooms with an indoor laundry room, and the upstairs unit features a 1 bedroom and 1 bathroom. Both units are currently occupied so you'll receive instant income. On the south side of the property it's currently set up as an oversized parking lot with more than enough space for the tenants, but it's also enough space to build an additional dwelling unit with up to 4 bedrooms and 4 more bathrooms... talk about an opportunity! And, did we mention that the Seller is willing to do Owner Financing with 5.5% interest-only payments...sounds like a pretty good deal! This is an opportunity you do not want to miss, reach out to your Agent today about this property, it won't last long!

Property Information

Size 2,390 SqFt
Price/SqFt $266
Lot Size 0.2 Acres
Year Built 1880
Property Type Residential Income
Zoning R-P
Listing Number SN22243623
Listed 11/17/2022
Modified 12/6/2022
Listing Agent Brent Silberbauer
Listing Office eXp Realty of California, Inc.
Total Building 1
Total Units 2

Property Features

# Electric Meters
  • 2
# Gas Meters
  • 2
# Units Leased
  • 2
# Water Meters
  • 2
Cap Rate
  • 4.41
Cooling
  • Wall/Window Unit(s)
Exterior
  • Lighting
Fencing
  • Wood
Fireplace
  • None
Garage Spaces
  • 0.00
Gross Income
  • 49380.00
Gross Operating Income
  • 48392.00
Gross Scheduled Income
  • 49380.00
Heating
  • Wall Furnace
Levels
  • Two
Net Operating Income
  • 27994.00
Operating Expense
  • 20398.00
Parking Total
  • 6.00
Pool
  • None
Price Pe rUnit
  • 317500
Roofing
  • Composition
Sewer
  • Public Sewer
Spa
  • None
StoriesTotal
  • 2
Total Expenses
  • 20398.00
Uncovered Spaces
  • 6.00
Water Source
  • Public
Flooring
  • Laminate
  • Tile
Tenant Pays
  • Electricity
  • Gas
Utilities
  • Cable Available
  • Electricity Connected
Views
  • Neighborhood
  • Trees/Woods
Interior
  • Ceiling Fan(s)
  • Laminate Counters
  • Pantry
  • Wainscoting
Community Features
  • Curbs
  • Gutters
  • Sidewalks
  • Storm Drains
  • Street Lights
Appliances
  • Dishwasher
  • Free-Standing Range
  • Gas Oven
  • Gas Range
  • Refrigerator
  • Self Cleaning Oven
  • Water Heater