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Eastwood Gardens 821 W East Ave 32 Unit Apartment Building $4,000,000 ($125,000/Unit) 5.50% Cap Rate Chico, CA 95926
INVESTMENT HIGHLIGHTS
- Great location along main corridor
- On site laundry provides added income
- Abundant parking
- Spacious units with rent upside through renovation
- Community pool on site
EXECUTIVE SUMMARY
- Prime opportunity to purchase a thirty-two (32) unit apartment complex available for sale located in Chico, CA.
- Fantastic mix of twenty-four (24) two-bedroom/one-bath units and eight (8) one-bedroom/one-bath units.
- All two-bedroom units are approximately 875 square feet and all one-bedroom units are approximately 700 square feet.
- Built in 1977 and features a central parking area, spacious floor plans, on site laundry facilities and a community pool area.
- Under market rents in place, allowing an investor the opportunity to take over a stable, income-producing asset in a strong rental market, renovate units and benefit from the upside in rents.
- Walking distance to Raley’s Supermarket / ACE Hardware anchored shopping center. Short distance to both California State
University and downtown Chico.
- Fantastic mix of twenty-four (24) two-bedroom/one-bath units and eight (8) one-bedroom/one-bath units.
- All two-bedroom units are approximately 875 square feet and all one-bedroom units are approximately 700 square feet.
- Built in 1977 and features a central parking area, spacious floor plans, on site laundry facilities and a community pool area.
- Under market rents in place, allowing an investor the opportunity to take over a stable, income-producing asset in a strong rental market, renovate units and benefit from the upside in rents.
- Walking distance to Raley’s Supermarket / ACE Hardware anchored shopping center. Short distance to both California State
University and downtown Chico.
DATA ROOM Click Here to Access
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS Under Contract
| Price | $4,000,000 | Apartment Style | Garden |
| Price Per Unit | $125,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.10 AC |
| Cap Rate | 5.50% | Building Size | 24,336 SF |
| No. Units | 32 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1977 |
| Property Subtype | Apartment | Parking Ratio | 2.67/1,000 SF |
| Zoning | R4 | ||
| Price | $4,000,000 |
| Price Per Unit | $125,000 |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.10 AC |
| Building Size | 24,336 SF |
| No. Stories | 2 |
| Year Built | 1977 |
| Parking Ratio | 2.67/1,000 SF |
| Zoning | R4 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Disposal
- Heating
- Granite Countertops
- Hardwood Floors
- Refrigerator
- Range
- Patio
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- Laundry Facilities
- Property Manager on Site
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | $1,095 | 674 - 700 |
| 2+1 | 24 | $1,238 | 875 |
PROPERTY TAXES
| Parcel Number | 042-070-153-000 | Total Assessment | $1,774,698 |
| Land Assessment | $375,303 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,399,395 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
042-070-153-000
Land Assessment
$375,303
Improvements Assessment
$1,399,395
Total Assessment
$1,774,698
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Eastwood Gardens | 821 W East Ave
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