647 W 1st Avenue

    Chico, CA 95926
    • $1,295,000
    • STATUS: Active
    • ON SITE: 159 days
    • ID#: SN19008770
    UPDATED: 71 min ago
    $1,295,000
    • 0
      BEDS
    • 0.38
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 8,288
      SQFT
    • $156
      $/SQFT
    Type:
    Multi-Family
    Built:
    1965
    County:

    School Ratings & Info

    Description

    Don't miss this value added opportunity at 108k/unit!! This property consists of 2 parcels, 647 & 705 W 1st Ave just blocks from CSUC. Both are near identical 6 unit buildings (12 units total). They can be financed together or separate. Each parcel has 4x 2bed/1bath and 2x studio units. Studios are located in front detached buildings, all other units are in the rear. With improvements all units can be brought to market rates which is estimated at $695/mo (studios) and $850/mo (2bedrooms). See full financial analysis in associated documents. Property has an unused laundry room, 3 storage rooms and open space between mirror properties. Some units have upgrades such as laminate floor.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-06-20T12:43:38.957. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.laffinsrealestate.com/homes/90804609

    647 W 1st Avenue Chico, CA 95926

    • Price: $1,295,000
    • Status: Active
    • Updated: 71 min ago
    • ID#: SN19008770
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.38
    Acres
    8,288
    SQFT
    $156
    $/SQFT
    1965
    Built
    County:
    Butte
    Property Description
    Don't miss this value added opportunity at 108k/unit!! This property consists of 2 parcels, 647 & 705 W 1st Ave just blocks from CSUC. Both are near identical 6 unit buildings (12 units total). They can be financed together or separate. Each parcel has 4x 2bed/1bath and 2x studio units. Studios are located in front detached buildings, all other units are in the rear. With improvements all units can be brought to market rates which is estimated at $695/mo (studios) and $850/mo (2bedrooms). See full financial analysis in associated documents. Property has an unused laundry room, 3 storage rooms and open space between mirror properties. Some units have upgrades such as laminate floor.
    Exterior Features

    Garage Spaces 0.00 Lot Features Lawn Lot Size Source Owner Lot Size Units Square Feet Parking Total 0.00 Pool Features None Pool Private YN No Property Attached YN No

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Laundry Features Community Levels Two

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Community Features Urban Country Us Electric Expense 150.00 Elevation Units Feet Gardener Expense 1000.00 Gross Income 8884.00 Gross Scheduled Income 106608.00 Insurance Expense 2300.00 Land Lease YN No Laundry YN Yes Maintenance Expense 3000.00 Net Operating Income 64166.00 New Construction YN No New Taxes Expense 14245.00 Number Of Separate Electric Meters 12 Number Of Separate Gas Meters 12 Number Of Separate Water Meters 2 Operating Expense 39244.00 Other Expense 2500.00 Other Expense Description Turns Professional Management Expense 8529.00 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Supplies Expense 500.00 Total Expenses 39244.00 Trash Expense 1920.00 Water Sewer Expense 5100.00 Water Source Public Year Built Source Assessor Zoning R3

    Listing provided courtesy of Ryan Vaught of Ryno Company


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-06-20T12:43:38.957. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
    Remax of Chico - The Laffins Real Estate Team
    1834 Mangrove Ave
    Chico CA, 95926