• Asking Price See Price
  • Estimated Value: $1,994,644

  • EAST CHICO, CA 95926

  • 3 Beds 2 Baths 14,900 SqFt
  • Multi-family (5 or more units) / Owner Financing
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Property Details for EAST St, CHICO, CA 95926

Features

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Description

This property is offered for sale with Owner Financing available. With Owner Financing, owners can offer flexible terms which allow buyers to purchase property without a traditional bank loan. This leaves more room for negotiation on loan terms and approvals.

*Seller Financing Available* Compass Point Apartments is a well-maintained 20-unit multifamily property located in the charming town of Chico, CA. This complex comprises sixteen one-bedroom, one-bathroom units, and four two-bedroom, one-bathroom units, with spacious layouts of 725 and 825 square feet, respectively. Tenants at Compass Point enjoy a "homey" atmosphere within this low-density, colonial-style community. The current owner has invested hundreds of thousands of dollars over the past 20 years, resulting in a 'pride of ownership' property with many interior/exterior upgrades throughout. Most notably, the Seller is willing to carry back a new first loan and deed of trust with 40% - 50% down at 5.25% interest only for 3-5 years, eliminating the high-rate environment objection. This offers the next investor the opportunity to bring rents to market rates and achieve a healthy cash-on-cash return.

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