Price Reduced!

20 Unit Apartment Building | $2,695,000 ($134,750/Unit) | 7.08% Cap Rate | Chico, CA 95926

Asking Price $2,695,000

Property Type: Multifamily
Square Feet: 14,899 SF

Listing Contacts

Spencer Moyer

Verified Profile

Property Info

Property Overview

ALIVE Commercial Real Estate is pleased to exclusively present Compass Point Apartments, a 20-unit multifamily property located in the charming town of Chico, CA. This complex comprises sixteen one-bedroom, one-bathroom units, and four two-bedroom, one-bathroom units, with spacious layouts of 725 and 825 square feet, respectively. With the average single-family home price in Chico exceeding $500,000, making mortgage payments significantly higher than the average rent for one and two-bedroom apartments in the area, tenants at Compass Point enjoy a "homey" atmosphere within this low-density, colonial-style community. The current owner has invested hundreds of thousands of dollars over the past 20 years, resulting in a 'pride of ownership' property with many interior/exterior upgrades throughout. This offers the next investor the opportunity to bring rents to market rates without needing a substantial capital infusion.

Property Details

Class: C
Year Built: 1980
Stories: 2
Lot Size (sq. ft): 40,075 SF
Units: 20

Highlights

Defendable Rent Projections.
Well Maintained Property With Attractive Unit Mix of One and Two-Bedroom Floor Plans.
1980’s Construction.

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