We are pleased to present the Compass Point Apartments. This is a stabilized 20-unit multifamily community located in the charming town of Chico, CA. Built in 1980, this low-density, colonial-style community offers a "homey" atmosphere that appeals to a consistent tenant base. The property features a well-maintained unit mix consisting… Read More of sixteen 1-bedroom/1-bathroom units (725 SF) and four 2-bedroom/1-bathroom units (825 SF).The current and previous ownership have invested hundreds of thousands of dollars in interior and exterior upgrades over the past 20 years, resulting in a true "pride of ownership" asset. This high level of maintenance offers a new investor the immediate opportunity to bring rents to market rates without the need for a substantial capital infusion. Nestled in the northern Sacramento Valley, Chico is the largest city in Butte County and serves as a vibrant hub for education, recreation, and culture. The city is famously home to California State University, Chico, which infuses the area with youthful energy and academic vigor.Outdoor enthusiasts are drawn to Bidwell Park, one of the largest municipal parks in the United States, featuring over 3,600 acres of trails, creeks, and swimming holes. The historic downtown area further enhances the local lifestyle with an eclectic mix of boutiques, eateries, and cultural landmarks. With average single-family home prices exceeding $500,000, Compass Point provides an essential high-quality housing alternative in a high-barrier-to-entry market. Read Less
Property listed by Matthews Real Estate Investment Services, Nabil Awada 310-259-7556
Listing Snapshot
Days Online
8
Last Updated
Beds
24
Square Ft.
14,899
Lot Size
0.75 Acres
Year Built
1980
MLS Number
26668345
Additional Details
Appliances & Equipment
Refrigerator
Building
Built in 1980, Living area: 14899.0, 2 buildings, 2 stories, Levels: Two
Income
Gross Income: $1,474, Net Operating Income: $160,513
Lot
0.75 acres
Parking
30 total parking spaces, Assigned, OffSite
Taxes
Parcel Number: 042070165000, Zoning: R4
Tenant Pays
Electricity, Gas
Utilities
20 separate electric meters, 20 separate gas meters
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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