Three-Unit Residential
New
For Sale
$585,000
622 W 6th Street, Chico, CA 95928
The occupied rental property comprises three units with tenants in place through the end of the school year.
Property Size2,828 SF
Days on Market7
Property Features for 622 W 6th Street
General Information
Standard status
Active
Size
2,828 SF
Property subtype
Triplex
Occupancy
100%
Additional Details
Multifamily Units
3
Tenant in Place
Yes
Building Details
Building Size
2,828 SF
Year Built
1927
Listing Agency:
Keller Williams Realty Chico Area
Listed By:
Alisha Simpkins · License #01772692
(530) 809-3742
Source:
Homesbyupside
Added: Oct 20
Changed: Oct 25
Last Checked: Oct 24 at 10:20PM
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 Keller Williams Realty Chico Area
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Investment Insights
Based on property information with market context.
The property at 622 A & B and 624 W. 6th Street is a triplex built in 1927. All three units are occupied, with tenants in place through the end of the school year.
The property is six blocks from Chico State and near Downtown Chico, with shopping, dining, and entertainment in the surrounding area.
The property is six blocks from Chico State and near Downtown Chico, with shopping, dining, and entertainment in the surrounding area.
Key Highlights
- Three‑unit triplex built in 1927
- All units currently occupied
- Tenants in place through the end of the school year
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,916
Cap Rate
6.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$718,320
$718.3K
Cap Rate 7%
$513,086
$513.1K
Cap Rate 9%
$399,067
$399.1K
Market Conditions
NOI Build-Up for 2,828 SF
Gross rent
$53.3K $18.84/SF
− Vacancy
−$2.0K −$0.70/SF
EGI
$51.3K $18.14/SF
− OpEx
−$15.4K −$5.44/SF
NOI
$35.9K $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%
$718,320
Cap Rate 7%
$513,086
Cap Rate 9%
$399,067
Alternative Uses
Best Use
Multifamily LT 5
$513.1K
$449.0K – $598.6K
NOI $35,916 @ 7.0% cap · market cap 6.14%
Second Best
Apartment 5plus
$466.4K
$408.1K – $544.1K
NOI $32,645 @ 7.0% cap · market cap 5.58%
Theoretical Best
Office A
$571.0K
$499.6K – $666.2K
NOI $39,970 @ 7.0% cap · market cap 6.83%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,778
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - The occupied rental property comprises three units with tenants in place through the end of the school year.
Where is this triplex located?
The property is located at 622 W 6th Street Chico, CA.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Three‑unit triplex built in 1927; All units currently occupied; Tenants in place through the end of the school year
