494 E. 5th St. consists of a beautifully renovated triplex along with two separate additional dwelling units, thus totaling 5 units in all. The previous owners spared no expense on a time period appropriate renovation. Apart from being beautiful to look at they’re functional featuring a
new roof, new electrical and plumbing, new mini splits with heat pump, new granite counters, custom doors and windows, new appliance packages, new porch and overhang and so much more.
One of the key features of this property is the location. It’s right on the edge of the GOLDEN TRIANGLE. The Golden triangle is typically considered the most prime downtown residential real estate that Chico has to offer. This location offers tenants the ability to walk to restaurants, shopping, and nightlife downtown. Ride bikes, walk, or go swimming in Bidwell Park. It has convenient access to HWY 99 and HWY 32 so you can drive to most places in Chico in about 10 minutes or less. You’re very close to Chico State, but it’s not considered a student area so while it’s convenient, it’s also calm and quiet. The neighborhood features beautifully remodeled homes on iconic tree lined streets.
Currently there is very strong demand for smaller units like what this property has to offer. New owners can expect low vacancy rates, high rental demand, lower expense ratios, and other factors present in most class A multifamily properties. This property is truly one of a kind.