1191 9Th StChico, CA 95928

Property Details for 1191 9Th St

Year built

2018

Lot size

0.43 AC

Property size (Sq ft)

4,844 SF

Property type

Residential income homes

Description

This exceptional multifamily investment opportunity in Chico, CA, presents eight completely renovated (2018) single-family cottages totaling 4,844 square feet on a 0.43-acre lot. Each cottage boasts modern interiors with luxury vinyl plank flooring and granite countertops, offering superior privacy and space compared to traditional apartments. The property features a beautifully landscaped courtyard, ample parking with dual street access from E 9th Street and Willow Avenue, and a separate 480-square-foot building (2019) housing six income-generating storage units and a coin laundry. The property enjoys a 100% occupancy rate since January 1, 2018, generating a net operating income (NOI) of $79,000 and a 5.75% cap rate. All units feature new concrete foundations, electrical, plumbing, framing, insulation, drywall, Hardie Plank siding, doors, windows, efficient mini-split HVAC systems, and new composite roofing. Located just three blocks from Bidwell Park and a short distance to downtown Chico and CSU Chico, this property benefits from its proximity to Highway 99 (1/2 mile). The low maintenance costs and long-term tenants with historically low vacancy (less than 2%) ensure consistent and stable cash flow, making this a turnkey investment with significant upside potential. The property is zoned Residential - Multi-Single and has an APN of 004-332-009-000. The asking price is $1,295,000, representing $161,875 per unit and $267.34 per square foot.

Location Insight

City

Chico

County

Butte

State

California

Latitude

39.7332

Longitude

-121.823

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