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Listing Details

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School Ratings & Info

Description

Looking for an investment opportunity with potential to build equity while enjoying positive cashflow? Look no further than this is a 5-unit multi-family property located just off Highway 99! It's in a prime location next to Orchard Hospital, Gridley Medical Center, CVS Pharmacy and the Butte County Library and the zoning is mixed-use so the possibilities are endless. Currently all the units are leased up and one of the downstairs units used to be a floral shop and the large cold storage is still there for future use! Rents are below market and with some minor paint and flooring upgrades to a few of the units, you could increase rents to market value. Bring your offers for this one-of-a-kind investment opportunity!

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-20T12:29:02.607. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Wendy Rich-Soto and Associates | Keller Williams Realty, South Bay. Licensed in the State of California, USA.
www.sellinglasouthbay.com/homes/119505174
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261 Spruce Street Gridley, CA 95948

  • Price: $849,000
  • Status: Active
  • Updated: 84 min ago
  • ID#: SN21158700
0
Beds
0
Baths
0
½ Baths
0.26
Acres
1950
Built
County:
Butte
Property Description
Looking for an investment opportunity with potential to build equity while enjoying positive cashflow? Look no further than this is a 5-unit multi-family property located just off Highway 99! It's in a prime location next to Orchard Hospital, Gridley Medical Center, CVS Pharmacy and the Butte County Library and the zoning is mixed-use so the possibilities are endless. Currently all the units are leased up and one of the downstairs units used to be a floral shop and the large cold storage is still there for future use! Rents are below market and with some minor paint and flooring upgrades to a few of the units, you could increase rents to market value. Bring your offers for this one-of-a-kind investment opportunity!
Exterior Features

Lot Features Near Public TransitRectangular Lot Number Of Separate Electric Meters 5 Parking Total 9 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Appliances DryerWasher Common Walls 1 Common Wall

Property Features

Additional Parcels YN No Common Interest None Community Features Sidewalks Garage YN Yes Gross Income 48240 Gross Scheduled Income 48240 Insurance Expense 1092 Land Lease YN No Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New LoanConventional Net Operating Income 26719 New Construction YN No New Taxes Expense 7643 Number Of Separate Gas Meters 5 Number Of Separate Water Meters 1 Operating Expense 10462 Other Expense 2952 Pest Control Expense 360 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions StandardTrust Trash Expense 1500 Water Sewer Expense 2400 Water Source Public Zoning Retail

Listing provided courtesy of Cody Squires of Coldwell Banker C&C Properties


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-20T12:29:02.607. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Wendy Rich-Soto and Associates | Keller Williams Realty, South Bay. Licensed in the State of California, USA.
 
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Wendy Rich-Soto and Associates | Keller Williams Realty, South Bay
23670 Hawthorne Blvd. #100
Torrance CA, 90505