Listed by Scott Hamm Realty
$8,200,000
1991 Humboldt Road
Details
APN 002110034000
Property Type Multifamily
Sub Type Apartment Building
Square Footage 30,884
Net Rentable (SqFt) 30,884
Units 30
Cap Rate 5.43%
NOI $445,570
Pro-Forma Cap Rate 5.65%
Pro-Forma NOI $463,136
Price per SqFt $266
Broker Co-Op Yes
Class A
Year Built 2023
Buildings 3
Stories 2
Acreage 1.400
Zoning Public Rec
Investment Type Stabilized
Multifamily | 30 Units | $273,333/unit
Marketing description
MAJOR PRICE ADJUSTMENT OF OVER $500,000 TO ENHANCE BUYER ROI. Now priced well below replacement cost. Turn-key complex with stabilized occupancy and immediate cash flow with maximum tax benefits. Great opportunity to own a recently constructed apartment complex in southeast Chico. The complex is gated and has a pool and clubhouse. It is conveniently located near transportation arteries and the bike path along Little Chico Creek. The rear of one building and the patios and balconies look over the creek. The complex also has owned solar. The unit sizes are large: 1/1 units @t 816 to 850 SF; 2/2.5 units @ 1,050 SF; and 3/2.5 @ 1,451 SF. This investment grade property would work well for and 1031 exchange investor or one wanting to build wealth through apartment ownership. Pro forma income and expense information shown. Call or email for more information or for access.
Investment highlights
Just repriced to enhance ROI and cash flow for buyer and effect a spring close. Gated complex with a mix of one, two and three- units. Granite countertops and a washer and dryer in each unit. Pool, clubhouse, dog run, bike area, and creek views for some units. Great bike path along creek. The large unit sizes and mix are shown below:
16 - 1/1 @ 816 To 850 Square Feet
7 - 2/2.5 @ 1,040 Square Feet –
7 - 3/2.5 @ 1,451 Square Feet
Listing Contacts
Listed by Scott Hamm Realty
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$445,570.00
$37,130.83/mo
Valuation Metrics
0
DSCR
5.43%
Cap Rate
5.43%
ROI
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