NOT LISTED FOR SALE

1125 Locust St Gridley, CA 95948

-- Bed
-- Bath
8,160 Sq Ft
1.8 Acres

Last Sold March 25, 2022

Last sale price $1,050,000 $129 Per Sq Ft

22 Days on Market

Highlights

  • RV or Boat Parking
  • Wood Flooring
  • Private Yard
  • Gridley High School Rated A-
  • Corner Lot
  • No HOA

About This Home

As of March 2022

This Multi-Unit community consists of 9 single-family homes and a triplex totaling 12 units. Each unit has its carport, large storage area, indoor laundry, nearly private yards, and long-term tenants. Clean, well maintained, needs some TLC. The property offers significant upside by improving rents to meet the local market value and possible room for additional growth -built-out-expand amenities to the underutilized portions of the property. Current Rents are low due to LONG TERM TENANTS - WITH MARKET RENTS CAP RATE IS 8.676 % - GRM 7.70 - ANNUAL INCOME $168,600 Combined 4 lot are per county record 78,409 - 1.8 acres

Last Agent to Sell the Property

Chelle Callo

DoorTru License #01830018 Listed on: 01/16/2022

Last Buyer's Agent

Chelle Callo

DoorTru License #01830018 Listed on: 01/16/2022

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,370

Year Built

  • Built in 1952

Lot Details

  • Corner Lot
  • Private Yard

Home Design

  • Cottage
  • Raised Foundation
  • Composition Roof

Interior Spaces

  • 2-Story Property
  • Laundry in unit

Flooring

  • Wood
  • Laminate
  • Concrete
  • Tile
  • Vinyl

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Parking

  • 12 Open Parking Spaces
  • 24 Parking Spaces
  • 12 Carport Spaces
  • Guest Parking
  • RV or Boat Parking

Accessible Home Design

  • Accessible Approach with Ramp

Utilities

  • Wall Furnace
  • Shared Septic
  • Septic System

Listing and Financial Details

  • Tenant pays for electricity
  • Assessor Parcel Number 010-360-012-000

Community Details

Overview

  • No Home Owners Association
  • 12 Buildings
  • 12 Units

Building Details

  • 12 Leased Units
  • 12 Units Leased Month-To-Month
  • Insurance Expense $4,360
  • Maintenance Expense $7,960
  • Net Operating Income $54,656

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,370

Year Built

Built in 1952

Lot Details

0

Listing Details

  • Property Type: ResidentialIncome
  • Subtype Description: House(s)
  • Property Subtype 1: 5 or More Units
  • Stories: 2
  • Year Built: 1952
  • Accessibility Features: AccessibleApproachwithRamp
  • Architectural Style: Cottage
  • Levels: One, Two
  • Stories: 2
  • ResoPropertyType: ResidentialIncome
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Concrete, Tile, Laminate, Vinyl, Wood, Varies by Unit
  • Price Per Square Foot: 504.81

Exterior Features

  • Construction Materials: Wood, Other
  • Exterior Features: Yard Space
  • Foundation: Other, Raised
  • Frontage Type: Varies by Unit
  • Listing Price: 1298000.00
  • Lot Features: Corner, Other
  • Patio And Porch Features: Varies by Unit
  • Property Condition: Varies by Unit
  • Roof: Composition

Garage/Parking

  • Open Parking Spaces: 12.00
  • Carport Spaces: 12.00
  • Parking Features: Carport, RV Storage, Varies by Unit, Guest Parking Available, Other
  • Total Parking Spaces: 24.00

Utilities

  • Security: Carbon Mon Detector, Smoke Detector
  • Sewer: Septic System, Shared Septic, Septic Connected
  • Utilities: City, Electric
  • Cooling: Varies by Unit
  • Heating: Wall Furnace, Varies by Unit
  • Laundry Features: In Each Unit
  • Water Source: Public
  • Utilities Expenses: 8166

Condo/Co-op/Association

  • Association: No

Schools

  • Senior High School District: Gridley Unified

Lot Info

  • Zoning Description: CITY
  • Irrigation: See Remarks, Other

Rental Info

  • Tenant Pays: Electricity
  • Lease Term: Month To Month
  • Total # Leasable: 12

Multi Family

  • Gross Income: 111480
  • Income Includes: Rent Only
  • Existing Lease Type: Other
  • Insurance Expense: 4360
  • Maintenance Expense: 7960
  • Number of Leased Units: 12
  • Number of Month to Month Units: 12
  • Number of Units: 12
  • One Bedroom Annual Occupancy: 95
  • Two Bedroom Annual Occupancy: 100
  • Three Bedroom Annual Occupancy: 100
  • One Bedrooms Occupied: 6
  • Two Bedrooms Occupied: 4
  • Three Bedrooms Occupied: 2
  • Other Unit(s): Detached Cottage
  • 1 Bedroom Rent Range: $660 - $950
  • Two Bedroom Rent Range: $495 - $1200
  • Three Bedroom Rent Range: $680 -$1600

Tax Info

  • Assessor Parcel Number: 010-360-012-000
  • Current RE Taxes: 6370
  • Bonds/Assessments/Taxes: Unknown

MLS Schools

  • School District (County): Butte

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/25/2022 03/25/22 Sold $1,050,000 -4.5% $129 / Sq Ft
03/25/2022 03/25/22 Sold $1,100,000 -15.3% $125 / Sq Ft
02/07/2022 02/07/22 Pending -- -- --
02/07/2022 02/07/22 Pending -- -- --
01/16/2022 01/16/22 For Sale $1,298,000 0.0% $159 / Sq Ft
10/28/2021 10/28/21 For Sale $1,298,000 -- $147 / Sq Ft
Source: MetroList

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Chelle Callo

    Seller's Agent in 2022

    Chelle Callo

    DoorTru

    (530) 764-5575

    7 in this area

    145 Total Sales

    Chelle Callo
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Map

Source: MetroList

MLS Number: 222004577

MetroList

California Butte County Gridley 95948

1125 Locust St, Gridley, CA

This home is located at 1125 Locust St, Gridley, CA 95948 since 16 January 2022. This property was built in 1952. 1125 Locust St is a home located in Butte County with nearby schools including McKinley Elementary School, Wilson Elementary School, and Sycamore Middle School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

MetroList IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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