Property Listing No Longer Available for Sale


Multi-family for Sale - $6,340,000 - 4.5 acres

Property Info

CIMLS #997967
CHICO CA 95973
Last UpdatedDecember 12th, 2018
Land4.5 acres
DemographicsView data

Property Description

INCREDIBLE RESIDENTIAL INCOME INVESTMENT OPPORTUNITY! Centrally located, in a great neighborhood, close to shopping, a main bike path, and public transportation, the Subject Property consists of 21 individual duplexes, situated on 20 contiguous, separate legal parcels, all connected to City services, on its’ own street/loop, with no HOA. Built in the late 80’s, (with the exception of a couple newer units), and owned by the same family since new, the Subject has a balanced mix of both one story and two story buildings , and units vary in size and configuration: 20 units are 2 bed/1.5 bath, 18 units are 2 bed/1 bath, 1 unit is 3 bed/2.5 baths and 3 units are 3 bed/1.5 baths. There is also a nicely upgraded, 2-story Managers unit, that consists of 3 beds /2.5 baths, open living space, and a small office with its’ own private entrance and attached storage room used for conducting the property management duties for the complex. All Units have enclosed garages with washer/dryer hookups. Units have central heat and air, mature landscaping, and front and back yards. Currently fully leased, with a history of long-term tenants, low vacancy rates and regular maintenance makes this an extremely rare offering, and amazing investment opportunity.