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Key Details
Sold Price $1,850,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SN24130414
Sold Date 11/13/24
Bedrooms 8
HOA Y/N No
Lot Size 0.380 Acres
Lot Dimensions 125 x 134
Property Description
Fantastic, hard-to-find, and very well-maintained, the "Peppertree Apartments" in Chico, CA, presents an excellent investment opportunity. This well-established complex consists of 17 units, including 16 two-bedroom, one-bath units, and one one-bedroom, one-bath unit. Over the past few years, most units have been thoughtfully updated with vinyl plank flooring, modern ceiling fans, and stylish light fixtures. The apartments feature wall cooling, gas wall heating, and newer dual-pane windows. Recent upgrades also include new countertops in many of the units, refurbished roofing, and an enhanced courtyard. The courtyard is so clean and offers a welcoming space for residents to relax and enjoy. There is convenient on-site parking and off-street parking and a seller-owned on-site laundromat with coin-operated washers and dryers. The complex benefits from high occupancy rates, with units rarely vacant. Conveniently located near the freeway, park, and downtown, one unit is occupied by an on-site manager, with rent credit reflected accordingly.
Fantastic, hard-to-find, and very well-maintained, the "Peppertree Apartments" in Chico, CA, presents an excellent investment opportunity. This well-established complex consists of 17 units, including 16 two-bedroom, one-bath units, and one one-bedroom, one-bath unit. Over the past few years, most units have been thoughtfully updated with vinyl plank flooring, modern ceiling fans, and stylish light fixtures. The apartments feature wall cooling, gas wall heating, and newer dual-pane windows. Recent upgrades also include new countertops in many of the units, refurbished roofing, and an enhanced courtyard. The courtyard is so clean and offers a welcoming space for residents to relax and enjoy. There is convenient on-site parking and off-street parking and a seller-owned on-site laundromat with coin-operated washers and dryers. The complex benefits from high occupancy rates, with units rarely vacant. Conveniently located near the freeway, park, and downtown, one unit is occupied by an on-site manager, with rent credit reflected accordingly.
Location
State CA
County Butte
Area Chico (95928)
Zoning Assessor
Interior
Cooling Wall/Window
Exterior
Exterior Feature Stucco
Building
Lot Description Corner Lot, Curbs, Sidewalks
Story 2
Level or Stories 2 Story
Others
Acceptable Financing Cash, Exchange
Space Rent $1,200
Listing Terms Cash, Exchange
Financing Conventional
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Bought with Mike McCrady • Michael McCrady, Broker