Bungalow Triplex with Private
For Sale
$509,500
1326 Mulberry, Chico, CA 95928
MULTI_FAMILY - Bungalow - Chico, CA
Property Size1,932 SF
Lot Size0.20 Acres
Price / SF$263.72
Days on Market46
Property Features for 1326 Mulberry
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Laundry Room, Bedroom 2, Bedroom 1, Bathroom 3, Bathroom 2, Bedroom 4, Bedroom 3, Bathroom 1, Kitchen
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
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1907
Floors in Building
1
Number of units
3
Flooring type
Laminate, Carpet, Vinyl
Building materials
Wood Siding, Lap Siding
Roof type
Metal, Composition
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: Aug 4
Last Checked: Aug 10 at 11:06PM
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.
1326 Mulberry Street is a well-maintained bungalow triplex with two structures and alley access to the rear duplex. The front home is a 2 bedroom, 2 bath residence featuring two large primary suites, each with a private en-suite bathroom. The rear portion is a duplex with a studio and a separate 1 bedroom, 1 bath unit.
All three units have fenced individual yards, separate meters, and parking. Parking includes covered space plus plenty of off-street parking. The front residence was fully renovated in 2023 with durable luxury vinyl plank flooring, an updated kitchen with modern finishes, and remodeled bathrooms.
A brand-new roof was installed in 2026, including new under sheathing and edge metal. Exterior work on the duplex includes repairs to the siding with a full paint job to match the front residence, along with an existing durable metal roof. Interior updates include fresh paint, new carpet, and new blinds. Public water and public sewer service support the property. Built in 1907, the property is approximately 1,932 square feet.
All three units have fenced individual yards, separate meters, and parking. Parking includes covered space plus plenty of off-street parking. The front residence was fully renovated in 2023 with durable luxury vinyl plank flooring, an updated kitchen with modern finishes, and remodeled bathrooms.
A brand-new roof was installed in 2026, including new under sheathing and edge metal. Exterior work on the duplex includes repairs to the siding with a full paint job to match the front residence, along with an existing durable metal roof. Interior updates include fresh paint, new carpet, and new blinds. Public water and public sewer service support the property. Built in 1907, the property is approximately 1,932 square feet.
Key Highlights
- Front residence fully renovated in 2023 with remodeled baths and updated kitchen
- Brand‑new roof installed in 2026 with new under sheathing and edge metal
- Triplex configuration: front 2 bed/2 bath plus rear duplex with studio and 1 bed/1 bath
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
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
518
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit triplex with fenced private yards, separate meters, and a fully renovated front residence.
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: Front residence fully renovated in 2023 with remodeled baths and updated kitchen; Brand‑new roof installed in 2026 with new under sheathing and edge metal; Triplex configuration: front 2 bed/2 bath plus rear duplex with studio and 1 bed/1 bath
