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    261 Spruce Street

    Gridley, CA 95948
    • $849,000
    • STATUS: Active
    • ON SITE: 58 days
    • ID#: SN21158700
    Price Reduced
    UPDATED: 67 min ago
    $849,000
    • 0
      BEDS
    • 0.26
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Type:
    Multi-Family
    Built:
    1950
    County:

    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 2021-09-17T14:34:15.323. 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 The DeBonis Team | Realty Masters & Associates. Licensed in the State of California, USA.
    www.debonishomes.com/homes/119505174
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    261 Spruce Street Gridley, CA 95948

    • Price: $849,000
    • Status: Active
    • Updated: 67 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 2021-09-17T14:34:15.323. 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 The DeBonis Team | Realty Masters & Associates. Licensed in the State of California, USA.
     
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