$649,900
MLS #: CH17163650

Description of 112 W 20th Street, Chico, CA 95928

Well maintained 10-unit income property in good location walking distance to Sierra Nevada Brewery, pubs, and restaurants. More importantly, the property offers great cash flow. Here are the actual numbers: $64,800 per year in rents; $17,714 in annual operating expenses; net income of $47,086. At a sales price of $649,900 the CAP rate is 7.25%. You won’t find another multi-unit income property with this high of a return. The property has a low vacancy rate and a tenant waiting list. The property requires little maintenance and offers plenty of off-street parking. The building configuration is as follows: main building has 8 one bedroom units ($500/month each); on the back alley is a one bedroom home ($650/month); also on back alley is a two bedroom home ($750/month). Total of 3 buildings plus a storage shed.

Property Features of 112 W 20th Street, Chico, CA 95928

HOME STYLE
Bungalow
Year Built
1929
Stories
1
Acres
.3
Features
Natural gas heat
Window unit air conditioner
Parking spaces: 30.00
Stucco exterior
Lot acreage is: 0.3000
Lot has wood fencing
Lot zoned: C2
Improvement: sidewalks
Bar
Asphalt roof
Units in building(s): 10
Total square feet: 13216.00
Property style: bungalow
Property style: 1 Story Home
Courtesy of: Michael McCrady, Broker

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