811 W 2nd, Chico, CA 95926

Rick Sufuentes

CA 01486988

Listed by Parkway Real Estate Co

$1,250,000

88 days on market

Updated 17 days ago

Opportunity zone

811 W 2nd

Details

APN

043162019000

Property Type

Multifamily

Sub Type

Apartment Building

Square Footage

8,880

Units

Cap Rate

6.43%

NOI

$80,401

Pro-Forma Cap Rate

6.88%

Pro-Forma NOI

$86,000

Price per SqFt

$141

Broker Co-Op

Yes

Year Built

1984

Buildings

Stories

Acreage

0.510

Zoning

Public Rec

Parking Spaces

spaces

Sale Condition

1031 exchange

Multifamily | 7 Units | $178,571/unit

Marketing description

811 West 2nd Avenue is an eight-unit apartment complex ideally located in the heart of Chico, just two blocks from Chico State University, the Safeway Shopping Center, and nearby restaurants. This prime location makes the property highly attractive to students, faculty, and commuters to campus, while still being only a few miles from downtown Chico. The complex consists of six two-story four-bedroom, two-bath units along with two studio units, providing a desirable unit mix and strong rental demand. The property offers off-street parking and is centrally located, allowing easy access to shopping, dining, public transportation, and major corridors throughout Chico. Several units have received recent updates, offering additional upside potential for future improvements and rent growth. This property presents a solid investment opportunity in a consistently strong rental market near the university.

Investment highlights

nvestment Opportunity in Chico, CA! Welcome to 811 W 2nd Ave!

Discover the potential of this incredible residential income property nestled in the heart of Chico, California. With a total of seven units, this investment opportunity is not one to miss!

Key Features:

Total Units: 7

Unit Composition: 6 spacious 4-bedroom, 2-bathroom units, and 1 cozy 1-bedroom, 1-bathroom unit.

Additional Potential: Expand your rental income with the possibility to add one more 1-bedroom, 1-bathroom unit.

Prime Location:

Centrally located, this property is a dream for both renters and investors. Its proximity to California State University, Chico (CSUC), makes it an ideal choice for students and faculty. Plus, with a variety of shopping options nearby, convenience is at your tenants' fingertips.

Proven Track Record:

811 W 2nd Ave boasts a long and solid history of consistent rental income. All financial records are meticulously maintained and readily available for your review. This property's proven track record makes it a smart investment choice for those seeking reliable returns.