Two-Unit Duplex with Private
1040 Normal Avenue, Chico, CA 95928
For Sale
New
$399,000
Both residences have separate gas and electric meters, indoor laundry, and detached garage parking.
Property Size1,876 SF
Price / SF$212.69
Days on Market5
Property Features for 1040 Normal Avenue
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Utilities to Site
Amenities
private backyard
indoor laundry
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
Parkway Real Estate Co.
Listed By:
John Barroso · License #01434090
(530) 570-8489
Source:
Homesbyupside
Added: Nov 3
Changed: Nov 5
Last Checked: Nov 6 at 5:02PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Parkway Real Estate Co.
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Investment Insights
Based on property information with market context.
This 1,876-square-foot duplex contains two residences, each with two bedrooms, a full bathroom upstairs, and a half bath downstairs. Hardwood flooring, updated windows, indoor laundry, and a private backyard are provided in each unit. The property was built in 1959 and includes a detached one-car garage for each residence, with access from the alley.
The property is in Chico’s Barber District, a few blocks from Downtown Chico, Chico State University, local restaurants, shopping, the Farmers Market, and Bidwell Park. Each unit has separate gas and electric meters.
The property is in Chico’s Barber District, a few blocks from Downtown Chico, Chico State University, local restaurants, shopping, the Farmers Market, and Bidwell Park. Each unit has separate gas and electric meters.
Key Highlights
- Two residences, each with 2 bedrooms, a full bath upstairs, and a half bath downstairs
- 1,876 square feet across a two‑unit duplex
- Private backyard and detached one‑car garage for each residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,825
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$476,500
$476.5K
Cap Rate 7%
$340,357
$340.4K
Cap Rate 9%
$264,722
$264.7K
Market Conditions
NOI Build-Up for 1,876 SF
Gross rent
$35.3K $18.84/SF
− Vacancy
−$1.3K −$0.70/SF
EGI
$34.0K $18.14/SF
− OpEx
−$10.2K −$5.44/SF
NOI
$23.8K $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 Rate 5%
$476,500
Cap Rate 7%
$340,357
Cap Rate 9%
$264,722
Alternative Uses
Best Use
Multifamily LT 5
$340.4K
$297.8K – $397.1K
NOI $23,825 @ 7.0% cap · market cap 5.97%
Second Best
Apartment 5plus
$309.4K
$270.7K – $360.9K
NOI $21,656 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$378.8K
$331.4K – $441.9K
NOI $26,514 @ 7.0% cap · market cap 6.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,451
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
View Realmo Analytics
Market
Properties on Market for Duplexes in Chico
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have separate gas and electric meters, indoor laundry, and detached garage parking.
Where is this duplex located?
The property is located at 1040 Normal Avenue Chico, CA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms, a full bath upstairs, and a half bath downstairs; 1,876 square feet across a two‑unit duplex; Private backyard and detached one‑car garage for each residence
