1648 Normal Ave
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1648 Normal Ave
4 Unit Apartment Building $649,000 ($162,250/Unit) 5.22% Cap Rate Chico, CA 95928
Investment Highlights
- 3 Minute drive to Downtown
- 5 minute drive to CSU
Executive Summary
Well maintained 4-Plex in the Barber District of Chico. 3 Minute drive to Downtown and 5 minute drive to CSU Chico, makes this a desirable rental option for many tenants. This property has been professionally managed, keeping rents at market value and professionally maintaining all units. All units are currently rented with year leases and have had great rental history. Owner pays for Trash and Water. Roof is one year old.
Data Room Click Here to Access
Financial Summary (Pro forma - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $649,000 | Property Subtype | Apartment |
| Price Per Unit | $162,250 | Lot Size | 0.13 AC |
| Sale Type | Investment | Building Size | 2,200 SF |
| Cap Rate | 5.22% | Average Occupancy | 100% |
| Sale Conditions | 1031 Exchange | No. Stories | 1 |
| Gross Rent Multiplier | 12.36 | Year Built | 1950 |
| No. Units | 4 | Opportunity Zone |
Yes
|
| Property Type | Multifamily |
| Price | $649,000 |
| Price Per Unit | $162,250 |
| Sale Type | Investment |
| Cap Rate | 5.22% |
| Sale Conditions | 1031 Exchange |
| Gross Rent Multiplier | 12.36 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Lot Size | 0.13 AC |
| Building Size | 2,200 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1950 |
| Opportunity Zone |
Yes |
Unit Amenities
- Dishwasher
- Disposal
- Fireplace
- Washer/Dryer
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Patio
Site Amenities
- Picnic Area
- Trash Pickup - Curbside
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 1 | $1,595 | - |
| 2+1 | 1 | $1,050 | - |
| 1+1 | 2 | $850.00 | - |
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PROPERTY TAXES
| Parcel Number | 005-195-004-000 | Improvements Assessment | $359,185 (2024) |
| Land Assessment | $139,384 (2024) | Total Assessment | $498,569 (2024) |
PROPERTY TAXES
Parcel Number
005-195-004-000
Land Assessment
$139,384 (2024)
Improvements Assessment
$359,185 (2024)
Total Assessment
$498,569 (2024)
zoning
| Zoning Code | RD-1 (Residential Duplex) |
| RD-1 (Residential Duplex) |
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1648 Normal Ave
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