Future commercial development opportunity with this 27 unit multi-family complex on 3.96 acres with several hundred feet of frontage along Hwy 99. Property is made up of 3 separate parcels. There are 27 units: 4 Studio, 12 ( 1 bd/1 ba), & 11 (2 bd/1 ba). Average unit is 612 SF. There are also 5 storage unit buildings that could be rented for storage or restored to studio cottages. Located within walking distance to Safeway, restaurants and banks. Several units have been remodeled in the last year. Wonderful income property with huge potential for commercial development in the future.

Property Type: Multi-Family
Property Use: Rental or Investment
Year Built: 1947
Occupancy Rate: 84
Sub-Lease: 32
Cap Rate Percentage: 6.75
Listing ID: T3BLBL
MLS ID: 201601784
Style: Multi-Family (Over 20 Units)
Building Size: 612 SF
Lot Size: 4 AC

Property Highlights

*Do not disturb tenants. Must have an appointment with listing agent to view complex. Owner doesn't want to carry paper. Seller had an appraisal done 5/2016. Contact Christy Bosanek 530-870-6907 or christy.bosanek@coldwellbanker.com. Financials available with LOI.

Property Features
Location Name: Gridley
Appliances: Refrigerator, Garbage Disposal, Range / Oven
Lot Size: 2-5 Acres
Age: Over 50 Years Old
Water: City Water
Sewer: Septic