488 E 3rd St, Chico, CA 95928

Property Description

Exceptional income property located in one of Chico's best neighborhoods offering 7% return on investment. The home has 9 bedrooms and 5 bathrooms and is currently rented for $6,550 per month. The lease term is for 1 year and goes from June 1st, 2022, through May 31, 2023. Under the lease, the tenant is responsible for water, sewer, garbage, yard maintenance, and all interior building maintenance and repair (including HVAC servicing and appliance repair). Originally built in 1950 by the Enloe Family, the home was taken down to the studs and completely refurbished in 2007 with new electrical, plumbing, appliances, HVAC systems, roof, windows, light fixtures, plumbing fixtures, and new insulation in the walls and attic. The large kitchen features granite counter tops, two sinks, two stoves, two microwaves, two refrigerators and tons of cabinetry. The home also has two sets of washer and drier (one set upstairs and one set downstairs), plus a finished basement with a bedroom, a living room, separate exterior access, and two walk-in storage closets. This property offers the trifecta - location, condition and ROI.