931 West East Avenue

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Address: 931 W East Ave, Chico, CA 95926, USA

California & West + Apartment Buildings

Created date: June 5, 2024

Date last updated: August 21, 2024

Seller Financing Available at 40% – 45% down, 5.25% Interest-Only for 3-5 Years.
Stabilized 9.21% Cash-on-Cash Return With Defendable Rent Projections.
Well Maintained Property With Attractive Unit Mix of One and Two-Bedroom Floor Plans.
1980’s Construction.

Property Description

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.

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Key Property Information

Listing Status:	Unavailable
Listing Type:	Call for offers
Property Types:	Apartment Buildings
Price:	$2,695,000
No. of Units:	20
Year Built:	1980
Lot Size:	0.75 Sq ft
Opportunity Zone:	No
Price per unit:	$134,750
Property Website	Click Here