1316 State Highway 99Gridley, CA 95948

Property Details for 1316 State Highway 99

Year built

1963

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.76 AC

Property size (Sq ft)

7,200 SF

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

024-070-040-000

APU

24070040000

Description

This exceptional 10-unit apartment building presents a compelling investment opportunity in the desirable city of Gridley, California. Strategically located just off Highway 99, this property boasts a total of 7,200 square feet situated on a 0.76-acre lot. The well-maintained building offers stable rental income, making it an attractive turnkey asset for investors seeking immediate returns. The strong occupancy rates demonstrate consistent demand and the potential for long-term value appreciation. This property is ideally suited for investors looking for a low-maintenance, high-yield investment in a convenient location with easy access to major transportation routes. The building's current condition and established rental income stream provide a solid foundation for future growth and profitability. Given the property's size, location, and proven rental history, this represents a rare opportunity to acquire a significant multifamily investment in a thriving market. The 0.76-acre lot offers potential for future expansion or development, further enhancing the long-term investment potential. Serious inquiries are encouraged to explore this promising investment opportunity in detail. Financial statements and further property details are available upon request. Don't miss this chance to secure a valuable asset in a prime location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,609,023

  6.5%

  $1,485,252

  7%

  $1,379,163

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,593,425

  Geo Method

  $1,593,425

• Alternative Use

  Use

  Valuation

  Residential

  $1,485,252

  Hospitality

  $1,360,483

  Educational

  $1,131,906

  Medical

  $1,170,834

  Retail

  $1,760,742

Location Insight

City

Gridley

County

Butte

State

California

Latitude

39.353

Longitude

-121.687

CBSA code

17020

CBSA name

CHICO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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