377 E 7th Avenue Chico, CA 95926

$1,295,000 Active

About the Property

Updated, clean and fully occupied 5 units in the heart of Chico, CA. This property consists of a 4 unit building consisting of all 1 bedroom units and a newly constructed detached 2 bedroom house. Combined income of all units is over $9300/month. One of the one bedroom units is a fully furnished short term rental unit with several years of documented income averaging $3000/month. The unfurnished 1 bedrooms are approx $1400/mo and the 2 bedroom house is leased for over 2K/month. All leases are month to month. This property is professionally managed and management is willing to stay on if desired. Additionally a private first mortgage is assumable for 450K at 5% for 20 years if desired. See virtual tour and included document package.

Property Information

Size 2,861 SqFt
Price/SqFt $453
Lot Size 0.21 Acres
Year Built 1963
Property Type Residential Income
Zoning R1
Listing Number SN22134807
Listed 6/21/2022
Modified 6/21/2022
Listing Agent Ryan Vaught
Listing Office Ryno Company
Total Building 2
Total Units 5

Property Features

# Electric Meters
  • 5
# Gas Meters
  • 5
# Water Meters
  • 2
Appliances
  • Water Heater
Cap Rate
  • 5.99
Community Features
  • Gutters
Cooling
  • Ductless
Exterior
  • Rain Gutters
Fencing
  • Wrought Iron
Fireplace
  • None
Garage Spaces
  • 0.00
Gross Income
  • 112140.00
Gross Operating Income
  • 108776.00
Gross Scheduled Income
  • 112140.00
Heating
  • Ductless
Interior
  • Ceiling Fan(s)
Levels
  • One
Net Operating Income
  • 77612.00
Operating Expense
  • 31163.00
Parking Total
  • 10.00
Pool
  • None
Price Pe rUnit
  • 259000
Sewer
  • Public Sewer
Spa
  • None
StoriesTotal
  • 1
Total Actual Rent
  • 9345.00
Total Expenses
  • 31163.00
Uncovered Spaces
  • 10.00
Utilities
  • Cable Available
Water Source
  • Public
Construction Materials
  • Cement Siding
  • Drywall Walls
Flooring
  • Carpet
  • Vinyl
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