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.
Details
| MLS # | 26668345 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1980 |
| Days On Site | 152 |
| Listing Provided By | Matthews Real Estate Investment Services | Nabil Awada |
Features
| Bed(s) | 24 |
|---|---|
| Bath(s) | 20 |
| SQ Feet | 14,899 |
| Story(s) | 2 |
| Units | 20 |
| Building(s) | 2 |
| Zoning | R4 |
| Acreage | 0.75 |
Interior
| Appliances | Refrigerator |
|---|
Parking
| Parking Features | Assigned, Off Site |
|---|
Area Information
| State | CA |
|---|---|
| County | Butte |
| City | Chico |
| Zip Code | 95926 |
| Listing VS Median (in 95926) | |
Price: $2,699,000 low | high Med: $7,500 sqft: 14,899 low | high Med: 494 $ / sqft: $181 low | high Med: $15 On site: 152 low | high Med: 17 | |
Market Activity 95926
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Learn More About This Property
| State | CA |
|---|---|
| County | Butte |
| City | Chico |
| Zip Code | 95926 |
| Listing VS Median (in 95926) | |
Price: $2,699,000 low | high Med: $7,500 sqft: 14,899 low | high Med: 494 $ / sqft: $181 low | high Med: $15 On site: 152 low | high Med: 17 | |