24 bedroom house for sale

Overview

Seller Financing Available Compass Point Apartments is a well-maintained 20-unit multifamily property located in the charming town of Chico, CA. This complex comprises sixteen one-bedroom, one-bathroom units, and four two-bedroom, one-bathroom units, with spacious layouts of 725 and 825 square feet, respectively. Tenants at Compass Point enjoy a homey atmosphere within this low-density, colonial-style community. The current owner has invested hundreds of thousands of dollars over the past 20 years, resulting in a 'pride of ownership' property with many interior/exterior upgrades throughout. Most notably, the Seller is willing to carry back a new first loan and deed of trust with 40% - 50% down at 5.25% interest only for 3-5 years, eliminating the high-rate environment objection. This offers the next investor the opportunity to bring rents to market rates and achieve a healthy cash-on-cash return.