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$ 2,795,000
Est. payment | /mo
24 Beds
20 Baths
14,899 SqFt
$ 2,795,000
Est. payment | /mo
24 Beds
20 Baths
14,899 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 14,899 sqft
Price per Sqft $187
MLS Listing ID 26668345
Bedrooms 24
HOA Y/N No
Year Built 1980
Lot Size 0.750 Acres
Property Description
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 of sixteen 1-bedroom/1-bathroom units (725 SF) and four 2-bedroom/1-bathroom units (825 SF).Extensively renovated and meticulously maintained, this asset reflects a comprehensive overhaul of both the building's systems and aesthetics. With the heavy capital expenditures already behind it, the property offers a turnkey opportunity to push rents to market rates without the need for additional Day 1 investment. 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.
Location
State CA
County Butte
Zoning R4
Interior
Fireplace No
Appliance Refrigerator
Exterior
Parking Features Assigned, Off Site
Total Parking Spaces 30
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 042070165000
Special Listing Condition Standard
Listed by Nabil Awada Matthews Real Estate Investment Services #02046840
Nearby Locations
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