820 Spruce ST, Gridley, CA 95948
820 Spruce ST, Gridley, CA 95948
820 Spruce ST, Gridley, CA 95948
820 Spruce ST, Gridley, CA 95948
820 Spruce ST, Gridley, CA 95948
820 Spruce ST, Gridley, CA 95948
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Elton Fernandes

Elton Fernandes

+1(916) 410-0056
$ 425,000
Est. payment | /mo

1 Bed

1 Bath

820 SqFt

Save
$ 425,000
Est. payment | /mo
Save

1 Bed

1 Bath

820 SqFt

Key Details

Property Type Multi-Family

Sub Type 2 Houses on Lot

Listing Status Active

Purchase Type For Sale

Square Footage 820 sqft

Price per Sqft $518

MLS Listing ID 226099007

Bedrooms 1

Full Baths 1

HOA Y/N No

Year Built 1958

Lot Size 6,499 Sqft

Acres 0.1492

Property Sub-Type 2 Houses on Lot

Source MLS Metrolist

Property Description

804 & 820 Spruce Street TWO DETACHED HOMES LIVE IN ONE, RENT THE OTHER Offered together at $425,000, 820 and 804 Spruce Street provide a rare opportunity to own two separate detached one-bedroom, one-bath cottages on an approximately 6,000-square-foot parcel. The approximately 820-square-foot main residence at 820 Spruce and beautifully renovated 520-square-foot cottage at 804 Spruce each have their own address, driveway and utilities, providing the privacy and independence of two individual homes in an attractive landscaped setting. For an owner-occupant, the second cottage can substantially change the economics of ownership. With 10% down, an illustrative $382,500 mortgage financed for 15 years at 6.5% would have a monthly principal-and-interest payment of approximately $3,332 and would be completely paid off at the end of the 15-year term. Meanwhile, rental income of just $1,350 per month from 804 Spruce would generate approximately $243,000 over those 15 yearsmore than the approximately $217,000 of total interest paid over the entire life of the mortgage, even assuming no rent increases. Live in one, collect income from the other, and in 15 years own two detached homes free of mortgage debt. It is an unusual combination of affordable owner occupancy, immediate rental income and long-term equity building.

Location

State CA

County Butte

Area 12558

Direction Hwy 99- Spruce

Rooms

Guest Accommodations Yes

Living Room Great Room, Other

Dining Room Breakfast Nook

Kitchen Breakfast Area

Interior

Heating Ductless

Cooling Ductless

Flooring Carpet, Laminate, Linoleum

Appliance Free Standing Refrigerator, Dishwasher, Microwave, Free Standing Gas Oven

Laundry Electric, Gas Hook-Up, Inside Area

Exterior

Parking Features Private, Uncovered Parking Space

Utilities Available Sewer Connected, Electric, Natural Gas Connected

View Garden/Greenbelt

Roof Type Composition

Topography Level

Private Pool No

Building

Lot Description Auto Sprinkler Front, Landscape Front, Low Maintenance

Story 1

Foundation Raised, Slab

Sewer Public Sewer

Water Public

Architectural Style Cottage

Schools

Elementary Schools Gridley Unified

Middle Schools Gridley Unified

High Schools Gridley Unified

School District Butte

Others

Senior Community No

Tax ID 009122004000

Special Listing Condition None

Pets Allowed Yes

MetroList® Services, Inc
Listed by LPT Realty, Inc
Elton Fernandes

Helping real estate be simple, fun and stress-free!

+1(916) 410-0056

eltontherealestateguy@gmail.com

GET MORE INFORMATION

Name
Phone*
Message

By checking this box, I agree by electronic signature to the Electronic Disclosure Consent Agreement; to receive recurring marketing communication from Elton Fernandes, including auto-dialed calls, texts, and artificial/prerecorded voice messages (message frequency varies; data rates may apply; reply "STOP" to opt-out of texts or "HELP" for assistance); and to the Terms of Service and Privacy Policy of this website. Consent not required to make a purchase. I understand that I can call to obtain direct assistance.

Go tour this home

820 Spruce ST