Duplex on Corner
For Sale
Contact for pricing
1050 Esplanade, Chico, CA 95926
Two homes on a corner lot, each used as a short-term rental, with a shared pool, parking, and updated accessibility features.
Property Size2,755 SF
Price / SF$290.02
Days on Market79
Property Features for 1050 Esplanade
General Information
Standard status
Active
Size
2,755 SF
Property subtype
Multifamily, Mixed Use
Additional Details
Business Included
Yes
Multifamily Units
2
Building Details
Year Built
1920
Buildings
2
Tenancy
Multi
Listing Agency:
Platinum Partners Real Estate
(530) 228-2550
Listed By:
Lisa Bristow · License #01823288
Source:
Crexi
Added: Jun 5
Changed: Aug 8
Last Checked: Jul 23 at 7:53AM
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 Platinum Partners Real Estate
Investment Insights
Based on property information with market context.
This offering includes two separately configured homes on a popular corner lot, each currently operating as a short-term rental. The main home was built in the 1920s and features soaring ceilings, original hardwood floors, and a bright sunroom overlooking the pool. Recent improvements include brand-new exterior paint, a Trex front porch, and a replaced sewer line. The layout includes three bathrooms, with one fully remodeled to be handicap accessible with railings and a ramp. The pool was resurfaced last year and includes a new pool sweep.
A permitted cottage—originally a garage—has its own address and is also used as a short-term rental. The cottage offers private laundry and versatile living space, along with a pool house equipped with an on-demand hot water heater and a newer split HVAC system. The property also includes abundant fruit trees, including peach, cherry, and fig, and ample parking. Public remarks note proximity to Downtown Chico, Bidwell Park, schools, restaurants, and shopping, and the property is described as supporting live/work concepts due to commercial zoning.
For tenants, buyers, or operators, the setup provides practical flexibility: live in one home while renting the other, or continue operating both as vacation rentals. The handicap-friendly upgrades, updated mechanical elements, and separate address for the cottage help support independent use of both structures.
A permitted cottage—originally a garage—has its own address and is also used as a short-term rental. The cottage offers private laundry and versatile living space, along with a pool house equipped with an on-demand hot water heater and a newer split HVAC system. The property also includes abundant fruit trees, including peach, cherry, and fig, and ample parking. Public remarks note proximity to Downtown Chico, Bidwell Park, schools, restaurants, and shopping, and the property is described as supporting live/work concepts due to commercial zoning.
For tenants, buyers, or operators, the setup provides practical flexibility: live in one home while renting the other, or continue operating both as vacation rentals. The handicap-friendly upgrades, updated mechanical elements, and separate address for the cottage help support independent use of both structures.
Key Highlights
- Two homes on a corner Chico lot, each currently operating as an Airbnb short‑term rental
- Main home built in 1920 with soaring ceilings, original hardwood floors, and a sunroom overlooking a shared pool
- Main home includes 3 bathrooms, including one fully remodeled handicap‑accessible bathroom with railings and ramp
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
$34,989
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
4.38%
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%
$699,780
$699.8K
Cap Rate 7%
$499,843
$499.8K
Cap Rate 9%
$388,767
$388.8K
Market Conditions
NOI Build-Up for 2,755 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
$51.9K $18.84/SF
− Vacancy
−$1.9K −$0.70/SF
EGI
$50.0K $18.14/SF
− OpEx
−$15.0K −$5.44/SF
NOI
$35.0K $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%
$699,780
Cap Rate 7%
$499,843
Cap Rate 9%
$388,767
Alternative Uses
Best Use
Multifamily LT 5
$499.8K
$437.4K – $583.2K
NOI $34,989 @ 7.0% cap · market cap 4.38%
Second Best
Apartment 5plus
$454.3K
$397.5K – $530.0K
NOI $31,802 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$556.3K
$486.7K – $649.0K
NOI $38,938 @ 7.0% cap · market cap 4.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,836
Businesses Nearby
Explore this area
Business Placement
Demographics for 95926, CA
41,259
Population
18,566
Households
2.2
Avg Household Size
31
Median Age
45%
College-Educated
96%
High-School Grad
7.8 sq mi
ZIP Area
5,290
Density / Sq Mi
$62,334
Median Household Income
$27,870
Median Earnings
$1,418
Median Rent
$462,900
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?
Short term rental property - Two homes on a corner lot, each used as a short-term rental, with a shared pool, parking, and updated accessibility features.
Where is this short term rental property located?
The property is located at 1050 Esplanade Chico, CA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Two homes on a corner Chico lot, each currently operating as an Airbnb short‑term rental; Main home built in 1920 with soaring ceilings, original hardwood floors, and a sunroom overlooking a shared pool; Main home includes 3 bathrooms, including one fully remodeled handicap‑accessible bathroom with railings and ramp
