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107 W 16th Street

Chico, CA 95928
  • $550,000
  • STATUS: Active
  • ON SITE: 119 Days
  • ID#: SN22174437
UPDATED: 56 min ago
$550,000
  • 0
    BEDS
  • 0.12
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Commercial
Built:
1945
County:

School Ratings & Info

Listing Agent(s): Spencer Moyer of Alive Commercial Real Estate (916-314-7005)


Description

This is a 5-unit multifamily property located in Chico, CA. Built in 1945, the property is comprised of (1) studio, (3) one-bedroom one-bathroom, and (1) two-bedroom one-bathroom floor plans. The building is comprised of a wood exterior, pitched composition shingle roof and wall air-conditioning units. There is also a shared laundry room on the lower floor. The listing price of $550,000 makes this one of the lowest price per unit investment opportunities in Chico within the last 12 months. Comparable market data shows current rents are below market, allowing a new owner to achieve a CAP rate above 6% with aggressive management and interior/exterior improvements

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-12-06T14:32:39.357. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Coldwell Banker C&C Properties. Licensed in the State of California, USA.
www.realestateredding.com/homes/131952490
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107 W 16th Street Chico, CA 95928

  • Price: $550,000
  • Status: Active
  • On Site: 119 Days
  • Updated: 56 min ago
  • ID#: SN22174437
0
Beds
0
Baths
0
½ Baths
0.12
Acres
1945
Built
County:
Butte
Property Description
This is a 5-unit multifamily property located in Chico, CA. Built in 1945, the property is comprised of (1) studio, (3) one-bedroom one-bathroom, and (1) two-bedroom one-bathroom floor plans. The building is comprised of a wood exterior, pitched composition shingle roof and wall air-conditioning units. There is also a shared laundry room on the lower floor. The listing price of $550,000 makes this one of the lowest price per unit investment opportunities in Chico within the last 12 months. Comparable market data shows current rents are below market, allowing a new owner to achieve a CAP rate above 6% with aggressive management and interior/exterior improvements
Exterior Features

Lot Features 0-1 Unit/Acre Roof Composition

Interior Features

Cooling Wall/Window Unit(S) Cooling YN Yes Heating Wall Furnace Heating YN Yes

Property Features

Additional Parcels YN No Cap Rate 4.53 Common Interest None Electric Expense 800 Gross Scheduled Income 47880 Insurance Expense 2350 Laundry Features None Listing Agreement Exclusive Right To Sell Net Operating Income 24922 Number Of Units Leased 5 Operating Expense 21521 Property Sub Type Multi Family Special Listing Conditions Standard Tax Annual Amount 6154 Trash Expense 2030 Vacancy Allowance 1436 Water Sewer Expense 900 Water Source Public



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-12-06T14:32:39.357. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Coldwell Banker C&C Properties. Licensed in the State of California, USA.
 
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Coldwell Banker C&C Properties
2120 Churn Creek Rd.
Redding CA, 96002
Listing Agent(s): Spencer Moyer of Alive Commercial Real Estate (916-314-7005)