Renovated Triplex with Separate
For Sale
$509,500
1326 Mulberry, Chico, CA 95928
Chico, CA
Property Size1,932 SF
Lot Size0.20 Acres
Price / SF$263.72
Days on Market92
Property Features for 1326 Mulberry
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 4, Laundry Room, Bedroom 1, Bathroom 1, Bathroom 3, Bedroom 4, Bedroom 3, Kitchen, Bathroom 2
Parking
4
Parking features
Carport, Covered
Patio and Porch features
Deck
Interior features
Ceiling Fan(s), Living Room Deck Attached, Pull Down Stairs to Attic, Open Floorplan, Formica Counters
Appliances
Refrigerator, Gas Water Heater, Gas Range, Gas Oven, Dishwasher
Lot features
Level with Street, 0-1 Unit/ Acre, Front Yard, Lot 10000-19999 Sqft, Walkstreet
Elementary school district
Chico Unified
Middle school district
Chico Unified
High school district
Chico Unified
Directions
Go West on 20th street, turn right on Mulberry St, property is just past E 14th St on left. Alley access in the back
Standard status
Active
APN
005181005000
Size
1,932 SF
Lot size
0.20 Acres
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1907
Floors in Building
1
Number of units
3
Flooring type
Carpet, Vinyl, Laminate
Building materials
Wood Siding, Lap Siding
Roof type
Composition, Metal
Architectural style
Bungalow
Listing Agency:
Re/Max of Chico
(530) 896-9300
Listed By:
Zachary Heckerson · License #02241866
(530) 588-3770
Added: Jun 26
Changed: Sep 22
Last Checked: Sep 25 at 5:06AM
MLS# SN26139566
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 1326 Mulberry Street in Chico, this triplex contains two structures totaling 1,932 square feet on a 0.2-acre lot. The front bungalow is a two-bedroom, two-bath residence with two primary suites and private en-suite bathrooms. A rear duplex adds a studio with a bathroom and a one-bedroom, one-bath unit. Each residence has its own fenced yard, separate utility metering, and parking. Covered parking and additional off-street parking are provided.
The front home underwent a full renovation in 2023, including vinyl plank flooring, an updated kitchen, and remodeled bathrooms. The rear building features fresh interior paint, new carpet, new blinds, repaired siding, and a matching exterior paint finish. Roofing includes a metal roof on the duplex and a composition roof installed on the front residence in 2026, with new under sheathing and edge metal.
Public water and sewer serve the property. The asset is near downtown Chico, California State University, Chico, and shopping, dining, and entertainment options. Appliances include refrigerators, gas ranges, gas ovens, dishwashers, and gas water heaters.
The front home underwent a full renovation in 2023, including vinyl plank flooring, an updated kitchen, and remodeled bathrooms. The rear building features fresh interior paint, new carpet, new blinds, repaired siding, and a matching exterior paint finish. Roofing includes a metal roof on the duplex and a composition roof installed on the front residence in 2026, with new under sheathing and edge metal.
Public water and sewer serve the property. The asset is near downtown Chico, California State University, Chico, and shopping, dining, and entertainment options. Appliances include refrigerators, gas ranges, gas ovens, dishwashers, and gas water heaters.
Key Highlights
- Three‑unit configuration: two‑bedroom/two‑bath front home plus rear studio and one‑bedroom unit
- 1,932 square feet on a 0.2‑acre lot
- Front residence fully renovated in 2023 with two primary suites and private en‑suite bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,536
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.82%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$490,720
$490.7K
Cap Rate 7%
$350,514
$350.5K
Cap Rate 9%
$272,622
$272.6K
Market Conditions
NOI Build-Up for 1,932 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$36.4K $18.84/SF
− Vacancy
−$1.3K −$0.70/SF
EGI
$35.1K $18.14/SF
− OpEx
−$10.5K −$5.44/SF
NOI
$24.5K $12.70/SF
Area
Chico, CA
Vacancy
3.70%
Lease Rate
$18.84 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$490,720
Cap Rate 7%
$350,514
Cap Rate 9%
$272,622
Alternative Uses
Best Use
Multifamily LT 5
$350.5K
$306.7K – $408.9K
NOI $24,536 @ 7.0% cap · market cap 4.82%
Second Best
Apartment 5plus
$318.6K
$278.8K – $371.7K
NOI $22,302 @ 7.0% cap · market cap 4.38%
Theoretical Best
Office A
$390.1K
$341.3K – $455.1K
NOI $27,306 @ 7.0% cap · market cap 5.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
890
Businesses Nearby
Explore this area
Business Placement
Demographics for 95928, CA
38,378
Population
17,455
Households
2.2
Avg Household Size
35
Median Age
41%
College-Educated
90%
High-School Grad
145.4 sq mi
ZIP Area
264
Density / Sq Mi
$65,350
Median Household Income
$32,615
Median Earnings
$1,419
Median Rent
$476,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Three separately metered residences offer private outdoor areas, parking, and flexible owner-occupant or rental use.
Where is this triplex located?
The property is located at 1326 Mulberry Chico, CA.
What is the asking price?
The asking price for this property is $509,500.
What are key features of this property?
This property features: Three‑unit configuration: two‑bedroom/two‑bath front home plus rear studio and one‑bedroom unit; 1,932 square feet on a 0.2‑acre lot; Front residence fully renovated in 2023 with two primary suites and private en‑suite bathrooms
