Priced Reduced! | 840 W 6th St
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Priced Reduced! 840 W 6th St
8 Unit Apartment Building $2,525,000 ($315,625/Unit) 5.92% Cap Rate Chico, CA 95928
Investment Highlights
- Modern 2014 Construction With Meticulous Design and Finishes (AB 1482 Exempt Until 2029)
- Two Blocks From Chico State and Walking Distance to Downtown
- 5.92% Current CAP Rate
- AEP Span "2015 Project of the Year"
- Large Three-Bedroom, Townhouse Style Floor Plans With Washer/Dryer, Direct Access Garages and Dual Zone Climate Control.
Executive Summary
ALIVE Commercial Real Estate is pleased to exclusively present Portland Place, a meticulously crafted, 2014-constructed multifamily property located in the heart of Chico, CA. The community consists of (8) large, three-bedroom three-bathroom floor plans with approximately 1,346 square feet each. Each unit is equipped with a full size washer and dryer, attached garage, private balcony and climate controlled heating and air conditioning. The combination of these interior/exterior attributes resulted in the reputable "AEP Span Project of the Year" award in 2015 for its design, color, and contribution to the university community. Portland Place provides a new owner the opportunity to acquire truly unique, pride-of-ownership asset with an attractive going-in yield.
Property Facts
| Price | $2,525,000 | Building Class | B |
| Price Per Unit | $315,625 | Lot Size | 0.41 AC |
| Sale Type | Investment | Building Size | 10,772 SF |
| Cap Rate | 5.92% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2014 |
| Property Subtype | Apartment | Parking Ratio | 1.49/1,000 SF |
| Apartment Style | Townhome | Opportunity Zone |
Yes
|
| Price | $2,525,000 |
| Price Per Unit | $315,625 |
| Sale Type | Investment |
| Cap Rate | 5.92% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 0.41 AC |
| Building Size | 10,772 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2014 |
| Parking Ratio | 1.49/1,000 SF |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+3 | 8 | $2,373 | 1,346 |
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Walk Score ®
Walker's Paradise (92)
Bike Score ®
Biker's Paradise (92)
PROPERTY TAXES
| Parcel Number | 004-204-006-000 | Improvements Assessment | $2,094,144 |
| Land Assessment | $530,417 | Total Assessment | $2,624,561 |
PROPERTY TAXES
Parcel Number
004-204-006-000
Land Assessment
$530,417
Improvements Assessment
$2,094,144
Total Assessment
$2,624,561
zoning
| Zoning Code | R3 |
| R3 |
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Priced Reduced! | 840 W 6th St
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