4-Unit Multifamily
New
For Sale
$450,000
986 Salem, Chico, CA 95928
A two-story triplex and detached cottage offer varied residential layouts in Chico.
Property Size2,986 SF
Days on Market2
Property Features for 986 Salem
General Information
Standard status
Active
Size
2,986 SF
Property subtype
Investment
Property Condition
Severity
Repairs Needed
Evidence
The property does need some repairs and updating
Units
Unit Mix
3 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
4
Building Details
Building Size
2,986 SF
Year Built
1905
Buildings
2
Stories
2
Units
4
Listed By:
Heather Cooper
(530) 809-3430
Source:
Elliman
Added: Oct 30
Last Checked: Oct 30 at 3:45PM
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 Heather Cooper
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Investment Insights
Based on property information with market context.
Built in 1905, the property comprises a two-story triplex and a separate cottage across four individual units. The triplex has two one-bedroom units on the lower level and an upper unit with two bedrooms and a bonus room. The detached cottage contains one bedroom and an open kitchen and living area. Unit features include hardwood floors, separate living and dining areas in one apartment, and an indoor laundry room in the cottage. Window air conditioners and wall furnaces serve the units. Repairs and updates are needed.
The property occupies a tree-lined corner lot at 986 Salem in Chico. Walk Score is 88 and Bike Score is 82. The backyard has been used for gardening and is accessible from one of the units; the cottage also has access to the yard.
The property occupies a tree-lined corner lot at 986 Salem in Chico. Walk Score is 88 and Bike Score is 82. The backyard has been used for gardening and is accessible from one of the units; the cottage also has access to the yard.
Key Highlights
- Four units: a two‑story triplex and detached one‑bedroom cottage
- Built in 1905; repairs and updating are needed
- Triplex includes two one‑bedroom units and one two‑bedroom unit with a bonus room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,469
Cap Rate
7.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$689,380
$689.4K
Cap Rate 7%
$492,414
$492.4K
Cap Rate 9%
$382,989
$383.0K
Market Conditions
NOI Build-Up for 2,986 SF
Gross rent
$65.2K $21.84/SF
− Vacancy
−$2.5K −$0.85/SF
EGI
$62.7K $20.99/SF
− OpEx
−$28.2K −$9.44/SF
NOI
$34.5K $11.54/SF
Area
Chico, CA
Vacancy
3.90%
Lease Rate
$21.84 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$689,380
Cap Rate 7%
$492,414
Cap Rate 9%
$382,989
Alternative Uses
Best Use
Apartment 5plus
$492.4K
$430.9K – $574.5K
NOI $34,469 @ 7.0% cap · market cap 7.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$602.9K
$527.5K – $703.4K
NOI $42,203 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,724
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - A two-story triplex and detached cottage offer varied residential layouts in Chico.
Where is this multifamily property located?
The property is located at 986 Salem Chico, CA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Four units: a two‑story triplex and detached one‑bedroom cottage; Built in 1905; repairs and updating are needed; Triplex includes two one‑bedroom units and one two‑bedroom unit with a bonus room
