Passive Income Potential! Own this collection of three 4plexes in the heart of Burney, CA, a peaceful mountain-town of 3,000+ people known for its natural beauty, outdoor activities, and stable local economy. Affordable housing in California is scarce, and here you could provide this product while making more than 10% ROI. Don't accept cap rates under 5%! Dollar General and Grocery Outlet didn't decide to move into this town without stable reasons. Factors in this town include the Pit River Casino, Sierra Pacific Mill, US Forest Service operations, Shasta Community College remote campus, a hospital 15 minutes away, and an affordable ski park 45 minutes away. Of the 12 units for sale at $46,500, 8 are 750sqft 2bd/1bth apartments, 2 are 1000sqft 2bd/2bth town homes, and 2 are 1200sqft 3bd/2bth town homes. The property is primed for a re-positioning, with a new professional property management company newly on board. With only 7 units currently rented, Gross Income is $4,510/month. A basic maintenance update and some remodeling places scheduled monthly income between $7800 and $9400. Call for more information and repair quotes.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
