2 months on rocket

1191 E 9th St, Chico, CA, 95928

$1,295,000

Home List Price

$10,000*

Closing Credit

0 Baths
House

Location

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1191 E 9th St, Chico$1,295,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeSingle Family Residence
Year Built1940
HeatingForced Air
CoolingOther
MLS #SN24196475
Lot Size0.43 Acres
StatusActive

About 1191 E 9th St

Turnkey Investment - 8 Cottage Homes in the Heart of Chico This beautifully remodeled multifamily investment is a prime opportunity for investors looking for long-term value and stable cash flow. The property consists of 8 entirely renovated cottages (2018), modern interiors featuring luxury vinyl plank (LVP) flooring and granite countertops. Located in an ideal central Chico location, just three blocks from the scenic Bidwell Park and and a short distance to downtown and CSU Chico. 1/2 mile to Hwy 99. This property is perfect for attracting long-term tenants who enjoy the convenience and a great lifestyle. Cottages offer more privacy and space compared to traditional apartment buildings, making tenants willing to pay a premium for for these perks. Key Features: 8 Cottages: All homes underwent a comprehensive remodel in 2018, including new concrete foundations, electrical, plumbing, framing & insulation, Drywall, Hardie Plank exterior siding, doors and windows, efficient mini-split heat/AC, and new composite roofing along with modernized interiors and premium finishes. A separate new (2019) 480 square foot building housing 6 Storage units at below market rates and a coin laundry provides additional income and tenant convenience. Long-term tenants with a historic vacancy rate of 2% ensures consistent rental income. Tenant Desirability. Beautiful common area courtyard between units with some units featuring private yards. Dual street access from both E 9th Street and Willow Avenue, with ample parking available. Low maintenance cost as everything is nearly new. Investment Highlights: Rents below market value, offering upside potential. Appraised at $1.5 million, making this a fantastic deal at $1,295,000. 6% cap rate, 11 GRM, providing a solid return on investment. Stable Income with less than 2% vacancy. Less intensive management needs compared to apartment buildings due to no shared walls, and long-term leases already in place. This property has been meticulously maintained and offers investors a turnkey solution with immediate cash flow. Don’t miss out on this exceptional opportunity to own a prime piece of real estate in one of Chico’s most desirable areas. Drive by only. Do not disturb tenants. Please don't go on the property without an appointment. Ask to view the Offering Memorandum.

Property Details

Property Features

Property Information:

  • Architectural Style: Cottage
  • Year Built: 1940
  • Stories: 1

Listing Office:

  • Office Name: Upside Real Estate
  • Office Phone: (530) 355-6881
  • Listing Agent: Dustin Cheatham

Interior Features

Interior Information:

  • Flooring Type: Vinyl

Exterior Features

Exterior Information:

  • Private Pool: No

Lot Features

Lot Information:

  • Lot: Corner Lot, Level, Sprinklers
  • Lot Size: 0.43 Acres

Utilities

Utilities Information:

  • Heating: Forced Air
  • Cooling: Other

Other

Directions Information:

  • Directions: The corner of E 9th St and Willow St

Price Information

Listing Price Info

Price Summary:

  • List Price: $1,295,000

Tax Information:

  • Annual Amount: $5,989
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Chico, CA.

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Chico, CA

City

Med. Sold Price

$466.3K

Med. Price/SqFt

$297

Avg. Days On Market

27

# of Sold Homes

64

1191 E 9th St vs Chico

88 DAYS ON ROCKET

+61 Days

$1,295,000

+$828.6K More

KEY TAKEAWAY

This property is $828.6K more than the Median Sold Price in Chico, CA.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: CRMLS
  • MLS Number: #SN24196475

Listing Office:

  • Office Name: Upside Real Estate
  • Office Phone: (530) 355-6881
  • Listing Agent: Dustin Cheatham

IDX Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) 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. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/18/2024, 5:21:14 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Apr 21, 2017Home Sold
$410,000
Apr 02, 1998Home Sold
$130,000
Sep 01, 1989Home Sold
$165,000

Tax History

YEARPROP. TAXASSESSMENT
2021$5,989$530,389
2020$5,759$503,972
2019$4,781$474,483
2018$4,781$416,160
2017$2,387$204,568

History based on county public records data.

Payment Calculator

$6,531

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$3,949

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-53139
2
/10

  • Chapman Elementary School

  • 1071 E 16th St

  • 0.61 miles

  • Public District Grades KG-5

school-card-donut-53140
7
/10

  • Parkview Elementary School

  • 1770 E 8th St

  • 0.82 miles

  • Public District Grades KG-5

school-card-donut-53141
5
/10

  • Hooker Oak Elementary School

  • 1238 Arbutus Ave

  • 1.04 miles

  • Public District Grades KG-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $60,954. Most Chico, CA residents have annual incomes between $35k-100k. Typical family type is single, no kids. Residents of this area typically have post secondary degree education.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 1191 E 9th St

What is the listing price of this property?

The listing price of 1191 E 9th St property is $1,295,000.

What type of property is this?

The property 1191 E 9th St is a house located in Chico, California, 95928.

Is this property for sale now?

Active Listing: 1191 E 9th St is For Sale (Active/New) which means the seller is accepting offers.

What is the annual property tax for this property?

According to the records, the last property tax for 2021 is $5,989 (source: MLS/based on county public records data).

When was this property sold last time and for how much?

The last sale was on April 21, 2017 for $410,000. (source: MLS/tax record).

Which year was this property built?

The year of construction for 1191 E 9th St is 1940.

Rocket Homes›California›Butte County›Chico›95928›1191 E 9th St

This home is located at 1191 E 9th St in Chico, CA and zip code 95928. This home, which was built in 1940, sits on a 0.43 acre lot. It has been listed on Rocket Homes since September 21, 2024 and is currently priced at $1,295,000.

In November 2024 more than 19 listings in Chico, CA were sold above the asking price. During the same period more than 16 listings were sold at asking price, while more than 29 were sold below. Between October 2024 and November 2024, Chico, CA real estate market has seen decrease in the number of listings by 11.1%. In November 2024 median list price was $466,362 and the average listing age was 27 days.

From Rocket Homes Real Estate and based on county public records data.

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