Property Tour and Contact Detail Information: Property tours are available by appointment. Please contact the listing broker to schedule a tour of the property. Investment Highlights: *Walking Distance to California State University, Chico *Fully Equipped Units With Stackable Washer/Dryer *Below Market Rents *Recently Sealed and Striped Parking Lot *Assumable Financing Available Terms listed on Page 7 of the Offering Memorandum located in the Due Diligence vault Investment Overview: Villa Del Sol Apartments in Chico, California is an exceptional multi-family investment opportunity. Originally constructed in 1983, the property consists of 16 units, all with three-bedroom/one-bathroom floor plans. The 0.71-acre lot is located on West Second Avenue, a highly desirable location for students attending California State University, Chico. Each building is comprised of wood-frame construction on concrete slab foundations with pitched composition shingle roofs and a stucco exterior. The units feature central heating and air-conditioning, faux-wood vinyl floors, stackable washer/dryer, large patios or balconies and fully amenitized kitchens with dishwashers and disposals.
The subject property offers an investor the ability to capitalize on scheduled enrollment growth at the California State University, Chico (CSUC). Both CSUC and Butte College plan to increase their headcount significantly by the fall 2017 semester this year: Enrollment growth at the university level is expected to place upward pressure on student housing rents throughout Chico allowing an investor to maintain strong annual rental increases. Current rents are considerably below comparable units in the market leaving an opportunity to move rents to market levels. The irreplaceable location and enrollment outlook at both colleges makes Villa Del Sol Apartments an exceptional addition to any investors portfolio.
