Four-Unit Quadplex with Private
New
For Sale
$789,000
390 Ash Street, Chico, CA 95926
Varied floor plans, on-site laundry, central climate control, and concrete off-street parking support residential occupancy.
Property Size3,808 SF
Days on Market7
Property Features for 390 Ash Street
General Information
Standard status
Active
Size
3,808 SF
Property subtype
Mixed Use
Units
Unit Mix
2 x 4BR/2BA, 1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
4
Amenities
on-site laundry
off-street parking
Building Details
Building Size
3,808 SF
Year Built
1987
Listing Agency:
Re/Max of Chico
Listed By:
Brandi Laffins · License #01140900
(530) 514-2901
Source:
Homesbyupside
Added: Sep 17
Changed: Sep 21
Last Checked: Sep 22 at 8:30PM
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.
Built in 1987, this four-unit quadplex combines a varied residential layout with practical property features. The unit mix includes two 4-bedroom, 2-bath residences, one 2-bedroom, 1-bath residence, and one 1-bedroom, 1-bath residence. Two units include fenced yards, while central heat and air, dual-pane windows, on-site laundry, and concrete off-street parking serve the property. The composition roof was replaced in 2017.
The property occupies a corner lot at 390 Ash Street in Chico, with additional street parking available. Its location is near Chico State and Downtown Chico, placing the property close to campus, restaurants, shopping, and downtown amenities.
The property occupies a corner lot at 390 Ash Street in Chico, with additional street parking available. Its location is near Chico State and Downtown Chico, placing the property close to campus, restaurants, shopping, and downtown amenities.
Key Highlights
- Four‑unit configuration with two 4‑bedroom, 2‑bath residences, one 2‑bedroom, 1‑bath residence, and one 1‑bedroom, 1‑bath residence
- Two units include fenced yards for private outdoor space
- Near Chico State and Downtown Chico
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
$48,362
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
6.13%
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%
$967,240
$967.2K
Cap Rate 7%
$690,886
$690.9K
Cap Rate 9%
$537,356
$537.4K
Market Conditions
NOI Build-Up for 3,808 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
$71.7K $18.84/SF
− Vacancy
−$2.7K −$0.70/SF
EGI
$69.1K $18.14/SF
− OpEx
−$20.7K −$5.44/SF
NOI
$48.4K $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%
$967,240
Cap Rate 7%
$690,886
Cap Rate 9%
$537,356
Alternative Uses
Best Use
Multifamily LT 5
$690.9K
$604.5K – $806.0K
NOI $48,362 @ 7.0% cap · market cap 6.13%
Second Best
Apartment 5plus
$628.0K
$549.5K – $732.6K
NOI $43,958 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$768.9K
$672.8K – $897.0K
NOI $53,820 @ 7.0% cap · market cap 6.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,087
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
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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?
Quadplex - Varied floor plans, on-site laundry, central climate control, and concrete off-street parking support residential occupancy.
Where is this quadplex located?
The property is located at 390 Ash Street Chico, CA.
What is the asking price?
The asking price for this property is $789,000.
What are key features of this property?
This property features: Four‑unit configuration with two 4‑bedroom, 2‑bath residences, one 2‑bedroom, 1‑bath residence, and one 1‑bedroom, 1‑bath residence; Two units include fenced yards for private outdoor space; Near Chico State and Downtown Chico
