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4 Unit Rental Near CSU, Chico - 1122 Stewart 1122 Stewart Ave

4 Unit Block of Flats £827,661 (£206,915/Unit) 4.53% Net Initial Yield Chico, CA 95926

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Investment Highlights

Near Chico State
Newly Renovated

Strong Rental History

Executive Summary

Exceptional four-unit investment property in a sought-after neighborhood near CSU, Chico!
Located at 1122 Stewart Ave, this multi-unit property offers a fantastic opportunity for both seasoned investors and those looking to start or expand their portfolio.
All four units have been recently remodeled and are well-maintained, offering a mix of comfort and convenience for tenants. The property consists of two 3-bedroom, 1-bath units and two 2-bedroom, 1-bath units with bright, updated interiors, functional kitchens, and plenty of storage.
Tenants enjoy the convenience of off-street parking, and the property features a shared outdoor space that provides a peaceful environment for relaxation or entertaining.
Located close to Chico State University, local shops, dining, and public transportation, this property is in a prime rental location. The consistent demand for housing in this area, along with the property’s strong rental history, makes it a wise investment with immediate income potential.
Whether you're looking for a property with reliable rental income or a low-maintenance addition to your investment portfolio, 1122 Stewart Ave is the perfect choice.
Key Features:
- 4 units with functional layouts
- Prime location near Chico State, shopping, and dining
- Strong rental history with excellent income potential
- Off-street parking and shared outdoor spaces
- Ideal for investors seeking stable, long-term returns
- Potential to add an additional unit at the rear of the property (utilities already trenched)
- Recent extensive remodel of each unit including roof, and all appliances, flooring, cabinets, bathrooms
- New mini split air conditioning (3 years old) in each unit
- Washer and dryer in all units except unit 2
Mortgage may be transferable at discretion of lender.

Marketing Package - 1122 Stewart

1122 Stewart - Pro Forma Analysis - Pro Forma Analysis

Financial Summary (Actual - 2023)	Annual	Annual Per SF
Gross Rental Income	£61,542	£24.73
Other Income	-	-
Vacancy Loss	£1,231	£0.49
Effective Gross Income	£60,311	£24.23
Taxes	-	-
Operating Expenses	-	-
Total Expenses	£22,849	£9.18
Net Operating Income	£37,463	£15.05

Financial Summary (Actual - 2023)

Gross Rental Income
Annual	£61,542
Annual Per SF	£24.73

Other Income
Annual	-
Annual Per SF	-

Vacancy Loss
Annual	£1,231
Annual Per SF	£0.49

Effective Gross Income
Annual	£60,311
Annual Per SF	£24.23

Taxes
Annual	-
Annual Per SF	-

Operating Expenses
Annual	-
Annual Per SF	-

Total Expenses
Annual	£22,849
Annual Per SF	£9.18

Net Operating Income
Annual	£37,463
Annual Per SF	£15.05

Property Facts

Price	£827,661	Property Subtype	Apartment
Price Per Unit	£206,915	Lot Size	0.30 AC
Sale Type	Investment	Building Size	2,489 SF
Net Initial Yield	4.53%	Average Occupancy	100%
Gross Rent Multiplier	13.45	Number of Floors	1
No. Units	4	Year Built/Renovated	1908/2020
Property Type	Residential	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Price	£827,661
Price Per Unit	£206,915
Sale Type	Investment
Net Initial Yield	4.53%
Gross Rent Multiplier	13.45
No. Units	4
Property Type	Residential
Property Subtype	Apartment
Lot Size	0.30 AC
Building Size	2,489 SF
Average Occupancy	100%
Number of Floors	1
Year Built/Renovated	1908/2020
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.