1191 9Th St Chico, CA 95928
- Residential income homes
- 4,844 SF
- 0.43 lot acres
Current Use by Public Records
- Residential income homes
Property Details for 1191 9Th St
- Year built
- 2018
- Lot size
- 0.43 lot acres
- Property size
- 4,844 SF
- Property type
- Residential income homes
- APN
- 004-332-009-000
Description
This exceptional multifamily investment opportunity in Chico, CA, presents eight completely renovated (2018) single-family cottages totaling 4,844 square feet on a 0.43-acre lot. Each cottage boasts modern interiors with luxury vinyl plank flooring and granite countertops, offering superior privacy and space compared to traditional apartments. The property features a beautifully landscaped courtyard, ample parking with dual street access from E 9th Street and Willow Avenue, and a separate 480-square-foot building (2019) housing six income-generating storage units and a coin laundry. The property enjoys a 100% occupancy rate since January 1, 2018, generating a net operating income (NOI) of $79,000 and a 5.75% cap rate. All units feature new concrete foundations, electrical, plumbing, framing, insulation, drywall, Hardie Plank siding, doors, windows, efficient mini-split HVAC systems, and new composite roofing. Located just three blocks from Bidwell Park and a short distance to downtown Chico and CSU Chico, this property benefits from its proximity to Highway 99 (1/2 mile). The low maintenance costs and long-term tenants with historically low vacancy (less than 2%) ensure consistent and stable cash flow, making this a turnkey investment with significant upside potential. The property is zoned Residential - Multi-Single and has an APN of 004-332-009-000. The asking price is $1,295,000, representing $161,875 per unit and $267.34 per square foot.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Chico
- County
- Butte
- State
- California
- Longitude
- -121.82327152
- Latitude
- 39.73319419
