161-261 Cohasset Ln 44 Unit Apartment Building $6,000,000 ($136,364/Unit) 6.13% Cap Rate Chico, CA 95926

ALIVE Commercial Real Estate is pleased to exclusively present The Riverside Apartments, a 44-unit multifamily community located at 161-261 Cohasset Lane in Chico, California. The property consists of (8) one-bedroom, one-bathroom units and (36) two-bedroom, one-bathroom units — an attractive mix for singles, dual working couples or small families. Over the past three years, the property has undergone significant upgrades, including a full exterior repaint with a modern two-tone scheme and a comprehensive interior renovation program completed on 20 of the 44 units. These renovations have consistently achieved rent premiums of $1,150 to $1,350 for the one-bedroom and two-bedroom units, respectively. With a substantial portion of the value add work already completed, a new owner is well-positioned to continue renovating the remaining 24 units and drive further upside, with projected cash-on-cash returns approaching 10%. The next owner will have the opportunity to acquire a well-located, garden-style community on a quiet street with defendable upside.