Two-Unit Duplex
For Sale
$899,000
818 W 1st Street, Chico, CA 95928
Two residential units provide a combined 10 bedrooms and four bathrooms on one lot.
Property Size3,379 SF
Days on Market9
Property Features for 818 W 1st Street
General Information
Standard status
Active
Size
3,379 SF
Property subtype
Duplex
Units
Unit Mix
6BR/2BA, 4BR/2BA
Multifamily Units
2
Building Details
Building Size
3,379 SF
Year Built
1984
Listing Agency:
Capital Rivers Commercial Inc
Listed By:
Matt Depa · License #01861484
(530) 896-9340
Source:
Homesbyupside
Added: Sep 24
Changed: Oct 2
Last Checked: Oct 1 at 7:15PM
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 Capital Rivers Commercial Inc
Investment Insights
Based on property information with market context.
This duplex property contains two residential units on a single lot. One unit has six bedrooms and two bathrooms; the other has four bedrooms and two bathrooms. The building was constructed in 1984.
The property is near CSU Chico and the WREC Center.
The property is near CSU Chico and the WREC Center.
Key Highlights
- Two residential units on one lot
- Six‑bedroom, two‑bathroom unit
- Four‑bedroom, two‑bathroom unit
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
$42,913
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
4.77%
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%
$858,260
$858.3K
Cap Rate 7%
$613,043
$613.0K
Cap Rate 9%
$476,811
$476.8K
Market Conditions
NOI Build-Up for 3,379 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
$63.7K $18.84/SF
− Vacancy
−$2.4K −$0.70/SF
EGI
$61.3K $18.14/SF
− OpEx
−$18.4K −$5.44/SF
NOI
$42.9K $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 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%
$858,260
Cap Rate 7%
$613,043
Cap Rate 9%
$476,811
Alternative Uses
Best Use
Multifamily LT 5
$613.0K
$536.4K – $715.2K
NOI $42,913 @ 7.0% cap · market cap 4.77%
Second Best
Apartment 5plus
$557.2K
$487.6K – $650.1K
NOI $39,006 @ 7.0% cap · market cap 4.34%
Theoretical Best
Office A
$682.2K
$597.0K – $796.0K
NOI $47,757 @ 7.0% cap · market cap 5.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,501
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
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 residential units provide a combined 10 bedrooms and four bathrooms on one lot.
Where is this duplex located?
The property is located at 818 W 1st Street Chico, CA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Two residential units on one lot; Six‑bedroom, two‑bathroom unit; Four‑bedroom, two‑bathroom unit
