Address
15 Mono Avenue Oroville, CA
Price
$ 1,625,000
Property Attributes
  • MLS#SN21115964
  • TypeCommercial
  • CountyBUTTE
  • CityOroville
  • Zip95965
  • StyleMulti Family
  • Price$ 1,625,000
  • Bedrooms28
  • Full Bathrooms14
  • Half Bathrooms0
  • Lot Size0.99 Acres
Listing Provided Courtesy Of:
Mandy Whigham with Own in the Sun, Inc..
Data Source:
California Regional MLS (CRMLS) - 25 - CA
Property Description

14 Easy to rent 2-bedroom, 1-bath apartments. Even with COVID this apartment is performing at a cap rate of 6.5% with upside potential. Oroville California is located off of State Route 70 near State Route 99. The town experienced rapid population growth due to the Camp Fire in 2018 leaving a housing shortage in the area. In addition, the local hospital is doing a $200 million dollar expansion that will bring an additional 700 jobs to the community of 20K plus residents. It is near impossible to find rentals in the area which is why this complex remains at 100% occupancy. When tenants move out rent increases are implemented allowing a potential cap rate of over 8% There are almost 2 parking spaces per unit and the grounds are low maintenance. Some of the units were renovated when the units turned over. This is a great investment for someone seeking immediate cash flow with upside potential. Can be purchased with 35 and 45 Mono Ave, a 24 Unit complex one lot over from 15 Mono.

Price History
5/29/2021 Listed $1,625,000

General Features

Construction Materials Drywall, Stucco
Cooling Wall/Window Unit(s)
Heating Wall Furnace
Listing Agent Mandy Whigham - BRE#01335800
Listing Agent State License 01335800
Property Sub Type Additional Multi Family
Property SubType Multi Family
Property Type Commercial Sale
Roof Shingle
Special Listing Conditions Standard
Status Active
Terms Cash to Existing Loan, Cash to New Loan, Conventional, Private Financing Available
Total Units 14
Utilities Cable Connected, Electricity Connected, Natural Gas Connected, Water Connected
Water Sewer Expense 2550

Interior Features

Air Conditioning Y/N Yes
Heating Y/N Yes
Laundry Features Common Area

Exterior Features

Lot Features 0-1 Unit/Acre, Lot Over 40000 Sqft
Lot Size Acres 0.99
Lot Size Area 43124
Lot Size Source Assessor
Lot Size Square Feet 43124
Lot Size Units Square Feet
Number of Buildings 3
Water Source Public

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Commercial Average in 95965

Price
AVG $600K
$1.63M
Visits
AVG 70
52
Year Built
AVG 1971
1978
Walkscore
AVG 49
28
Data Provided by Walkscore ® not using MLS data

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