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488 E 3rd Street

Chico, CA 95928
  • $925,000
  • STATUS: Active
  • ON SITE: 26 Days
  • ID#: SN22119211
$925,000
  • 0
    BEDS
  • 0.24
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1950
County:

School Ratings & Info

Listing Agent(s): Mike Mccrady of Michael Mccrady, Broker (530-321-3726)


Description

Exceptional income property located in one of Chico's best neighborhoods offering 7% return on investment. The home has 9 bedrooms and 5 bathrooms and is currently rented for $6,550 per month. The lease term is for 1 year and goes from June 1st, 2022, through May 31, 2023. Under the lease, the tenant is responsible for water, sewer, garbage, yard maintenance, and all interior building maintenance and repair (including HVAC servicing and appliance repair). Originally built in 1950 by the Enloe Family, the home was taken down to the studs and completely refurbished in 2007 with new electrical, plumbing, appliances, HVAC systems, roof, windows, light fixtures, plumbing fixtures, and new insulation in the walls and attic. The large kitchen features granite counter tops, two sinks, two stoves, two microwaves, two refrigerators and tons of cabinetry. The home also has two sets of washer and drier (one set upstairs and one set downstairs), plus a finished basement with a bedroom, a living room, separate exterior access, and two walk-in storage closets. This property offers the trifecta - location, condition and ROI.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-06-30T00:30:13.847. 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/129492040
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488 E 3rd Street Chico, CA 95928

  • Price: $925,000
  • Status: Active
  • On Site: 26 Days
  • ID#: SN22119211
0
Beds
0
Baths
0
½ Baths
0.24
Acres
1950
Built
County:
Butte
Property Description
Exceptional income property located in one of Chico's best neighborhoods offering 7% return on investment. The home has 9 bedrooms and 5 bathrooms and is currently rented for $6,550 per month. The lease term is for 1 year and goes from June 1st, 2022, through May 31, 2023. Under the lease, the tenant is responsible for water, sewer, garbage, yard maintenance, and all interior building maintenance and repair (including HVAC servicing and appliance repair). Originally built in 1950 by the Enloe Family, the home was taken down to the studs and completely refurbished in 2007 with new electrical, plumbing, appliances, HVAC systems, roof, windows, light fixtures, plumbing fixtures, and new insulation in the walls and attic. The large kitchen features granite counter tops, two sinks, two stoves, two microwaves, two refrigerators and tons of cabinetry. The home also has two sets of washer and drier (one set upstairs and one set downstairs), plus a finished basement with a bedroom, a living room, separate exterior access, and two walk-in storage closets. This property offers the trifecta - location, condition and ROI.
Exterior Features

Construction Materials Stucco Lot Features 0-1 Unit/Acre Number Of Separate Electric Meters 1 Parking Total 0 Pool Features None Pool Private YN No Property Attached YN No Roof Composition

Interior Features

Common Walls No Common Walls Cooling Central Air Cooling YN Yes Fireplace Features None Fireplace YN No Flooring CarpetTileWood Heating Central Heating YN Yes

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Cable Tv Expense 0 Cap Rate 7.02 Common Interest None Community Features BikingPark Electric Expense 0 Fuel Expense 0 Garage YN No Gross Income 78600 Gross Scheduled Income 78600 Insurance Expense 3000 Land Lease YN No Laundry Features Laundry Closet Levels Three Or More Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Submit Maintenance Expense 0 Net Operating Income 64981 New Construction YN No New Taxes Expense 9619 Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Operating Expense 13619 Other Expense 1000 Pest Control Expense 0 Pool Expense 0 Property Sub Type Single Family Residence Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Supplies Expense 0 Tenant Pays Cable TvElectricityGasGrounds CareHvac MaintenanceJanitorial ServiceManagementOtherPest ControlRepairsSee RemarksSewerWater Trash Expense 0 Water Sewer Expense 0 Water Source Public



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-06-30T00:30:13.847. 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): Mike Mccrady of Michael Mccrady, Broker (530-321-3726)