1400 Montgomery Street Oroville, CA 95965

$695,000 Active

About the Property

A unique opportunity! Stately Victorian 9 unit complex. Live in managers unit & reap the benefits of an income producing property. This complex has attracted tenants who have called this home for years. Current tenant base consisting of most recent tenant at over a year & remaining units at multiple year. Convenient location amongst other vintage homes of its day. Beautiful mature trees line the street front. Easy walk to convenient stores with bus route at street. Known as The Montgomery House; this complex consists of a large comfortable 2 bed 2 bath managers unit on main level with vintage wood work, nice sized living room, tall ceilings, victorian accents, Walk in shower & modern kitchen. The remaining 8 units consist of decent sized studio style with kitchenettes, bathrooms & private access. Beautiful vintage stairwell to upper units. Detached 2 car garage at rear of lot. Ample off street parking with 9 spots. On site coin operated laundry maintained by a laundry service company for maintenance convenience. Good size covered front porch for tenant enjoyment & rear observation deck overlooks panoramic views of the neighborhood, treetops, table mountain & as far as the eye can see. Units are on same water & PGE meter. As a great benefit there are two roof tops to rear of property with ample space where property owner could install a new solar system to offset the PGE costs tremendously creating extra profits. No need to replace roof prior to new solar system install as a brand new quality roof was installed 2022 on full structure (A large completed expense). Being a vintage home, as another great benefit, a contractor went around this structure & removed & installed tired wood & dry rot wood members for structural integrity. To top it off a licensed paint contractor painted full structure which was in the completion process at time of property hitting market; some photos reflect work in progress. Prior owner lived here for many years utilizing the income to greatly supplement her retirement plan. Owner left one unit available & ready to occupy to allow new buyer opportunity to fill as desired, as well as managers unit left available for potential of owner occupancy or desired manager placement. Units rent at $710 per unit; $5,680 if all studios rented. Rent managers unit $900+ for potential total $6,580+ in rents. Zoned R3. Shown to pre qualified buyers only with verification of qualifications. Income/Expenses-Seller Estimates. Rare market opportunity!

Property Information

Size 4,215 SqFt
Price/SqFt $165
Lot Size 0.33 Acres
Year Built 1905
Property Type Residential Income
Zoning R3
Listing Number OR22149175
Listed 7/8/2022
Modified 9/21/2022
Listing Agent Mario Gattavara
Listing Office Coldwell Banker Lifestyle Properties
Total Building 2
Total Units 9

Property Features

# Electric Meters
  • 1
# Gas Meters
  • 1
# Water Meters
  • 1
Garage Spaces
  • 2.00
Gross Income
  • 79560.00
Gross Scheduled Income
  • 79560.00
Levels
  • Three Or More
Net Operating Income
  • 54901.00
Operating Expense
  • 24659.00
Parking Total
  • 12.00
Pool
  • None
Price Pe rUnit
  • 77222
Roofing
  • Composition
Sewer
  • Public Sewer
Style
  • Victorian
Tenant Pays
  • None
Total Expenses
  • 24659.00
Uncovered Spaces
  • 10.00
Water Source
  • Public
Cooling
  • Evaporative Cooling
  • Wall/Window Unit(s)
Heating
  • Baseboard
  • Wall Furnace
Views
  • Panoramic
  • See Remarks
Community Features
  • Sidewalks
  • Storm Drains
  • Street Lights
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