494 E 5th Street Chico, CA 95928

$1,395,000 Active

About the Property

Welcome to 494 E. 5th Street, a unique and meticulously renovated historic property comprising a stunning period styled triplex and two additional detached dwelling units, totaling five units altogether. The main house is one of very few OCTAGONAL built homes ever constructed. During the recent period-appropriate renovation no expense were spared. The upgrades include brand-new roofs, electrical and plumbing systems, energy-efficient mini splits with heat pumps, elegant granite counters, custom doors and windows, modern appliance packages, a charming porch, and an inviting overhang – all enhancing the property's allure. Units have indoor laundry. This exceptional property boasts a prime location, situated right on the edge of the renowned GOLDEN TRIANGLE – Chico's most sought-after downtown residential area. The Golden Triangle is synonymous with luxurious living and offers unparalleled convenience to tenants. Residents can easily walk to a myriad of dining options, shopping destinations, and vibrant nightlife downtown. Additionally, Bidwell Park beckons with its recreational activities like biking, walking, and swimming, providing an ideal escape into nature. Seller may finance, terms negotiable. Upstairs has potential for development of additional units, buyer to investigate.

Property Information

Size 4,025 SqFt
Price/SqFt $347
Lot Size 0.2 Acres
Year Built 1900
Property Type Residential Income
Zoning CITY
Listing Number SN24027906
Listed 2/8/2024
Modified 2/10/2024
Listing Agent Michael Lee
Listing Office Ryno Company
Total Building 3
Total Units 5

Property Features

# Electric Meters
  • 5
# Gas Meters
  • 5
# Units Leased
  • 4
# Water Meters
  • 3
Cap Rate
  • 4.90
Carport Spaces
  • 0.00
Electric
  • 220 Volts in Laundry
Fencing
  • None
Fireplace
  • None
Garage Spaces
  • 0.00
Gross Income
  • 105060.00
Gross Operating Income
  • 102959.00
Gross Scheduled Income
  • 105060.00
Heating
  • Heat Pump
Levels
  • One
Net Operating Income
  • 68410.00
Operating Expense
  • 34549.00
Parking Total
  • 3.00
Pool
  • None
Price Pe rUnit
  • 279000
Roofing
  • Composition
Sewer
  • Public Sewer
Spa
  • None
StoriesTotal
  • 1
Style
  • Victorian
Total Actual Rent
  • 8755.00
Total Expenses
  • 34549.00
Uncovered Spaces
  • 3.00
Views
  • Neighborhood
Water Source
  • Public
Flooring
  • Laminate
  • Vinyl
Cooling
  • Electric
  • High Efficiency
  • Zoned
Exterior
  • Awning(s)
  • Lighting
  • Rain Gutters
Community Features
  • Curbs
  • Gutters
  • Sidewalks
  • Storm Drains
  • Street Lights
Utilities
  • Cable Available
  • Electricity Connected
  • Natural Gas Connected
  • Phone Available
  • Sewer Connected
  • Water Connected
Interior
  • Built-in Features
  • Ceiling Fan(s)
  • Granite Counters
  • High Ceilings
  • Laminate Counters
  • Recessed Lighting
  • Storage
  • Wainscoting
Appliances
  • Dishwasher
  • ENERGY STAR Qualified Appliances
  • Free-Standing Range
  • Disposal
  • Gas Oven
  • Gas Range
  • High Efficiency Water Heater
  • Microwave
  • Range Hood
  • Refrigerator
  • Self Cleaning Oven
  • Vented Exhaust Fan
  • Water Heater