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$849,000
261 Spruce St, Gridley, CA 95948
0 Beds
0 Baths
4,314 sqft

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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!
  • Price:
  • $849,000
  • Square Footage:
  • 4,314
  • Acreage:
  • 0.26
  • Year Built:
  • 1950
  • Listing ID #:
  • SN21154579
  • Street Address:
  • 261 Spruce St
  • City:
  • Gridley
  • State:
  • California
  • Postal Code:
  • 95948
  • County:
  • Butte
  • Listing Status:
  • Active
  • Listing Type:
  • Commercial Sale
  • Number Of Units:
  • 5
  • Total Building Square Footage:
  • 4314
  • Year Built:
  • 1950
  • Annual Insurance Expenses:
  • 1092
  • Annual Trash Expenses:
  • 1500
  • Annual Water/Sewer Expenses:
  • 2400
  • Net Operating Income:
  • 26719
  • Operating Expense:
  • 21521
  • Approximate Lot Size Range Source:
  • Assessor
  • Lot Features:
  • Near Public Transit, Rectangular Lot
  • Lot Size:
  • 11326
  • Lot Square Footage:
  • 11326
  • Days On Market:
  • 98
  • On Market Date:
  • 2021-07-15
  • Originating Mls:
  • Crmls
  • Previous Listing Price:
  • 950000
  • Appliances:
  • Dryer, Washer
  • Existing Water:
  • Public
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.

Your Payment
$1,400/mo

Source: CINC

  • Listing Provided By Cody Squires of Coldwell Banker C&c Properties
  • CACRMLS

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