890 E 9th Street Chico, CA 95928

$2,200,000 Pending

About the Property

Fantastic, hard-to-find, and very well-maintained, the "Peppertree Apartments" in Chico, CA, presents an excellent investment opportunity. This well-established complex consists of 17 units, including 16 two-bedroom, one-bath units, and one one-bedroom, one-bath unit. Over the past few years, most units have been thoughtfully updated with vinyl plank flooring, modern ceiling fans, and stylish light fixtures. The apartments feature wall cooling, gas wall heating, and newer dual-pane windows. Recent upgrades also include new countertops in many of the units, refurbished roofing, and an enhanced courtyard. The courtyard is so clean and offers a welcoming space for residents to relax and enjoy. There is convenient on-site parking and off-street parking and a seller-owned on-site laundromat with coin-operated washers and dryers. The complex benefits from high occupancy rates, with units rarely vacant. Conveniently located near the freeway, park, and downtown, one unit is occupied by an on-site manager, with rent credit reflected accordingly.

Property Information

Size 11,862 SqFt
Price/SqFt $185
Lot Size 0.38 Acres
Year Built 1965
Property Type Residential Income
Zoning R3
Listing Number SN24130414
Listed 8/19/2024
Modified 10/1/2024
Listing Agent MaryAnn Scott
Listing Office Parkway Real Estate Co.
Total Building 1
Total Units 17

Property Features

# Electric Meters
  • 18
# Gas Meters
  • 18
# Units Leased
  • 17
# Water Meters
  • 1
Construction Materials
  • Stucco
Cooling
  • Wall/Window Unit(s)
Fencing
  • None
Fireplace
  • None
Garage Spaces
  • 0.00
Gross Income
  • 225280.00
Gross Scheduled Income
  • 225280.00
Heating
  • Wall Furnace
Levels
  • Two
Net Operating Income
  • 158927.00
Operating Expense
  • 66353.00
Other Structures
  • Storage
Pool
  • None
Price Pe rUnit
  • 129412
Sewer
  • Public Sewer
Spa
  • None
StoriesTotal
  • 2
Total Actual Rent
  • 18440.00
Total Expenses
  • 66353.00
Views
  • Neighborhood
Water Source
  • Public
Flooring
  • Carpet
  • Vinyl
Tenant Pays
  • Electricity
  • Gas
Appliances
  • Electric Oven
  • Electric Range
  • Refrigerator
Community Features
  • Curbs
  • Sidewalks
  • Street Lights
Interior
  • Ceiling Fan(s)
  • Laminate Counters
  • Tile Counters
Utilities
  • Electricity Connected
  • Natural Gas Connected
  • Sewer Connected
  • Water Connected