Duplex with Two
For Sale
$579,000
38 Kobe Loop, Chico, CA 95973
Two-unit residential income property with separate entrances, garages, and in-unit laundry setups for flexible occupancy.
Property Size2,287 SF
Days on Market53
Property Features for 38 Kobe Loop
General Information
Standard status
Active
Size
2,287 SF
Total Parking Spaces
3
Property subtype
Investment
Additional Details
Multifamily Units
2
Building Details
Building Size
2,287 SF
Year Built
2008
Stories
1
Units
2
Listing Agency:
Re/Max of Chico
(530) 514-2901
Listed By:
Brandi Laffins · License #01140900
Source:
Elliman
Added: Jun 18
Changed: Aug 8
Last Checked: Aug 8 at 12:40PM
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 Re/Max of Chico
Investment Insights
Based on property information with market context.
This duplex includes two residential units on one lot, built in 2008. The downstairs 3-bedroom, 2-bath unit features an open-concept living and dining area with abundant natural light, along with a kitchen that includes warm wood cabinetry, generous counter space, a breakfast bar, and new stainless steel appliances. Additional in-unit features include fresh carpeting, ceiling fans throughout, indoor laundry, an attached 2-car garage, and a private covered patio for outdoor use.
The upstairs unit offers its own private entrance and separate garage, supporting privacy and flexibility. Inside, it includes a spacious living area, a full kitchen, a primary bedroom with an en-suite bath, and an additional guest bedroom. A private balcony provides outdoor space.
For buyers and investors, the property’s two distinct layouts and separate garage/entry arrangements can support a multi-generational setup or dual-rental strategy. For owner-occupants, the second unit can provide help with housing costs while maintaining separation from the downstairs living space. Located in North Chico near Hooker Oak Park and Bidwell Park, the home also benefits from proximity to parks and local amenities.
The upstairs unit offers its own private entrance and separate garage, supporting privacy and flexibility. Inside, it includes a spacious living area, a full kitchen, a primary bedroom with an en-suite bath, and an additional guest bedroom. A private balcony provides outdoor space.
For buyers and investors, the property’s two distinct layouts and separate garage/entry arrangements can support a multi-generational setup or dual-rental strategy. For owner-occupants, the second unit can provide help with housing costs while maintaining separation from the downstairs living space. Located in North Chico near Hooker Oak Park and Bidwell Park, the home also benefits from proximity to parks and local amenities.
Key Highlights
- Two‑unit residential property built in 2008 with separate entrances, each unit with its own garage
- Downstairs unit: 3 bedrooms, 2 bathrooms with an open‑concept layout and abundant natural light
- Upstairs unit: 2 bedrooms, 2 bathrooms with its own private entrance, private balcony, and a designated 1‑car garage
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
$29,045
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
5.02%
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%
$580,900
$580.9K
Cap Rate 7%
$414,929
$414.9K
Cap Rate 9%
$322,722
$322.7K
Market Conditions
NOI Build-Up for 2,287 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
$43.1K $18.84/SF
− Vacancy
−$1.6K −$0.70/SF
EGI
$41.5K $18.14/SF
− OpEx
−$12.4K −$5.44/SF
NOI
$29.0K $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%
$580,900
Cap Rate 7%
$414,929
Cap Rate 9%
$322,722
Alternative Uses
Best Use
Multifamily LT 5
$414.9K
$363.1K – $484.1K
NOI $29,045 @ 7.0% cap · market cap 5.02%
Second Best
Apartment 5plus
$377.1K
$330.0K – $440.0K
NOI $26,400 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$461.8K
$404.0K – $538.7K
NOI $32,323 @ 7.0% cap · market cap 5.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
269
Businesses Nearby
Explore this area
Business Placement
Demographics for 95973, CA
39,609
Population
15,836
Households
2.5
Avg Household Size
39
Median Age
41%
College-Educated
94%
High-School Grad
300.1 sq mi
ZIP Area
132
Density / Sq Mi
$92,228
Median Household Income
$45,897
Median Earnings
$1,546
Median Rent
$484,600
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?
Duplex - Two-unit residential income property with separate entrances, garages, and in-unit laundry setups for flexible occupancy.
Where is this duplex located?
The property is located at 38 Kobe Loop Chico, CA.
What is the asking price?
The asking price for this property is $579,000.
What are key features of this property?
This property features: Two‑unit residential property built in 2008 with separate entrances, each unit with its own garage; Downstairs unit: 3 bedrooms, 2 bathrooms with an open‑concept layout and abundant natural light; Upstairs unit: 2 bedrooms, 2 bathrooms with its own private entrance, private balcony, and a designated 1‑car garage
