4 Unit Rental Near CSU, Chico - 1122 Stewart | 1122 Stewart Ave
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4 Unit Rental Near CSU, Chico - 1122 Stewart 1122 Stewart Ave
4 Unit Apartment Building $1,475,314 CAD ($368,828 CAD/Unit) 4.53% Cap Rate Chico, CA 95926
Investment Highlights
- Near Chico State
- Newly Renovated
- Strong Rental History
Executive Summary
Exceptional four-unit investment property in a sought-after neighborhood near CSU, Chico!
Located at 1122 Stewart Ave, this multi-unit property offers a fantastic opportunity for both seasoned investors and those looking to start or expand their portfolio.
All four units have been recently remodeled and are well-maintained, offering a mix of comfort and convenience for tenants. The property consists of two 3-bedroom, 1-bath units and two 2-bedroom, 1-bath units with bright, updated interiors, functional kitchens, and plenty of storage.
Tenants enjoy the convenience of off-street parking, and the property features a shared outdoor space that provides a peaceful environment for relaxation or entertaining.
Located close to Chico State University, local shops, dining, and public transportation, this property is in a prime rental location. The consistent demand for housing in this area, along with the property’s strong rental history, makes it a wise investment with immediate income potential.
Whether you're looking for a property with reliable rental income or a low-maintenance addition to your investment portfolio, 1122 Stewart Ave is the perfect choice.
Key Features:
- 4 units with functional layouts
- Prime location near Chico State, shopping, and dining
- Strong rental history with excellent income potential
- Off-street parking and shared outdoor spaces
- Ideal for investors seeking stable, long-term returns
- Potential to add an additional unit at the rear of the property (utilities already trenched)
- Recent extensive remodel of each unit including roof, and all appliances, flooring, cabinets, bathrooms
- New mini split air conditioning (3 years old) in each unit
- Washer and dryer in all units except unit 2
Mortgage may be transferable at discretion of lender.
Located at 1122 Stewart Ave, this multi-unit property offers a fantastic opportunity for both seasoned investors and those looking to start or expand their portfolio.
All four units have been recently remodeled and are well-maintained, offering a mix of comfort and convenience for tenants. The property consists of two 3-bedroom, 1-bath units and two 2-bedroom, 1-bath units with bright, updated interiors, functional kitchens, and plenty of storage.
Tenants enjoy the convenience of off-street parking, and the property features a shared outdoor space that provides a peaceful environment for relaxation or entertaining.
Located close to Chico State University, local shops, dining, and public transportation, this property is in a prime rental location. The consistent demand for housing in this area, along with the property’s strong rental history, makes it a wise investment with immediate income potential.
Whether you're looking for a property with reliable rental income or a low-maintenance addition to your investment portfolio, 1122 Stewart Ave is the perfect choice.
Key Features:
- 4 units with functional layouts
- Prime location near Chico State, shopping, and dining
- Strong rental history with excellent income potential
- Off-street parking and shared outdoor spaces
- Ideal for investors seeking stable, long-term returns
- Potential to add an additional unit at the rear of the property (utilities already trenched)
- Recent extensive remodel of each unit including roof, and all appliances, flooring, cabinets, bathrooms
- New mini split air conditioning (3 years old) in each unit
- Washer and dryer in all units except unit 2
Mortgage may be transferable at discretion of lender.
Financial Summary (Actual - 2023) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$109,565
|
$44.02
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$2,191
|
$0.88
|
| Effective Gross Income |
$107,374
|
$43.14
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$40,678
|
$16.34
|
| Net Operating Income |
$66,696
|
$26.80
|
Financial Summary (Actual - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $109,565 |
| Annual Per SF | $44.02 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $2,191 |
| Annual Per SF | $0.88 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $107,374 |
| Annual Per SF | $43.14 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $40,678 |
| Annual Per SF | $16.34 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $66,696 |
| Annual Per SF | $26.80 |
Property Facts
| Price | $1,475,314 CAD | Property Subtype | Apartment |
| Price Per Unit | $368,828 CAD | Lot Size | 0.30 AC |
| Sale Type | Investment | Building Size | 2,489 SF |
| Cap Rate | 4.53% | Average Occupancy | 100% |
| Gross Rent Multiplier | 13.45 | No. Stories | 1 |
| No. Units | 4 | Year Built/Renovated | 1908/2020 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Price | $1,475,314 CAD |
| Price Per Unit | $368,828 CAD |
| Sale Type | Investment |
| Cap Rate | 4.53% |
| Gross Rent Multiplier | 13.45 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Lot Size | 0.30 AC |
| Building Size | 2,489 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1908/2020 |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 2 | $2,314 CAD | 625 |
| 2+1 | 2 | $1,962 CAD | 614 - 625 |
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Walk Score ®
Very Walkable (78)
Bike Score ®
Biker's Paradise (99)
PROPERTY TAXES
| Parcel Number | 043-241-016-000 | Improvements Assessment | $539,131 CAD |
| Land Assessment | $195,315 CAD | Total Assessment | $734,445 CAD |
PROPERTY TAXES
Parcel Number
043-241-016-000
Land Assessment
$195,315 CAD
Improvements Assessment
$539,131 CAD
Total Assessment
$734,445 CAD
zoning
| Zoning Code | R1 |
| R1 |
-
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4 Unit Rental Near CSU, Chico - 1122 Stewart | 1122 Stewart Ave
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