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4 Unit Rental Near CSU, Chico - 1122 Stewart 1122 Stewart Ave 4 Unit Apartment Building $1,049,000 ($262,250/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 | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$78,000
|
$31.34
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$1,560
|
$0.63
|
| Effective Gross Income |
$76,440
|
$30.71
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$28,959
|
$11.63
|
| Net Operating Income |
$47,481
|
$19.08
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $78,000 |
| Annual Per SF | $31.34 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $1,560 |
| Annual Per SF | $0.63 |
| Effective Gross Income | |
|---|---|
| Annual | $76,440 |
| Annual Per SF | $30.71 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $28,959 |
| Annual Per SF | $11.63 |
| Net Operating Income | |
|---|---|
| Annual | $47,481 |
| Annual Per SF | $19.08 |
Property Facts
| Price | $1,049,000 | Property Subtype | Apartment |
| Price Per Unit | $262,250 | 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
|
| Zoning | R1 | ||
| Price | $1,049,000 |
| Price Per Unit | $262,250 |
| 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 |
| Zoning | R1 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 2 | $1,645 | 625 |
| 2+1 | 2 | $1,395 | 614 - 625 |
1 1
Walk Score®
Very Walkable (78)
Bike Score®
Biker's Paradise (99)
Property Taxes
| Parcel Number | 043-241-016-000 | Improvements Assessment | $400,289 (2025) |
| Land Assessment | $145,015 (2025) | Total Assessment | $545,304 (2025) |
Property Taxes
Parcel Number
043-241-016-000
Land Assessment
$145,015 (2025)
Improvements Assessment
$400,289 (2025)
Total Assessment
$545,304 (2025)
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4 Unit Rental Near CSU, Chico - 1122 Stewart | 1122 Stewart Ave
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