647 W 1st Avenue, Chico, CA 95926
2
beds 2
baths 8288
ft2 · 16552
ft2 lot$1,295,000
$156 / ft2
Listing provided courtesy of Ryan Vaught, Ryno Company.
Source CRMLS.
Don't miss this value added opportunity at 105k/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 $750/mo (studios) and $950/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.
HOA
$—/month
On market
5 months
Year built
1965
Property type
Multi-Family
Parking
—
MLS
SN20030794
Price / Sq.Ft.
$156 / ft2
Status
Active
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Flyhomes Cash Offer
Based on a price of $1,295,000
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$6,475
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$6,475
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$4,810
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Property Details
Interior Features & Layout
Appliances
•
Laundry Details: Community
•
Laundry: 1
Rooms Info
•
Average3 Bed Area Units: Square Feet
•
Average Studio Area Units: Square Feet
•
Average2 Bed Area Units: Square Feet
•
Average1 Bed Area Units: Square Feet
Interior Size
•
Building Area Total: 8288.00
Property, Lot, Community & Exterior Features
Parking Info
•
Garage Spaces: 0.00
Building Info
•
Building Area Units: Square Feet
•
Stories Total: 2
•
Num Stories: Two
•
Year Built Source: Assessor
Lot Info
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Zoning: R3
•
Lot Features: Lawn
•
Lot Size Source: Owner
•
Elevation Units: Feet
•
Lot Size Acres: 0.3800
•
Lot Size Area: 16552.0000
•
Lot Size Units: Square Feet
Community Info
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Number Of Buildings: 4
•
Total Units: 12
Property Features
•
Common Walls: No Common Walls
Utilities & Other Information
Utilities
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Number Of Separate Electric Meters: 12
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Number Of Separate Gas Meters: 12
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Number Of Separate Water Meters: 2
Water & Sewer Info
•
Water Source: Public
•
Sewer: Public Sewer
Listing Details, Costs & Financing Information
Financial Info
•
Water Sewer Expense: 5100.00
•
Other Expense Description: Turns
•
Supplies Expense: 500.00
•
Other Expense: 2500.00
•
Maintenance Expense: 3000.00
•
Total Actual Rent: 9424.00
•
Trash Expense: 1920.00
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New Taxes Expense: 13750.00
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Insurance Expense: 2300.00
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Professional Management Expense: 7916.00
•
Total Expenses: 38136.00
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Gross Scheduled Income: 113088.00
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Operating Expense: 38136.00
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Gardener Expense: 1000.00
•
Rent Control Yn: 1
Tax/Assessment Info
•
Gross Income: 9424.00
Lease Info
•
Net Operating Income: 71559.00
Listing Info
•
Status: Active
Other
•
Electric Expense: 150.00
Multi Unit Information
Unit 2 Information
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Unit 2 Actual Rent: 843.00
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Unit 2 Bedrooms: 2
•
Unit 2 Total Units: 8
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Unit 2 Furnished Units: Unfurnished
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Unit 2 Bathrooms: 1
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Unit 2 Garage Spaces: 0.00
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Unit 2 Total Rent: 6744.00
Multi Unit Information
•
# Of Units: 2
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Number Of Units Leased: 12
Unit 1 Information
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Unit 1 Total Units: 4
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Unit 1 Furnished Units: Unfurnished
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Unit 1 Garage Spaces: 0.00
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Unit 1 Bathrooms: 1
•
Unit 1 Actual Rent: 670.00
•
Unit 1 Total Rent: 2680.00
School Neighborhood & Directions
Location
•
Community Features: Urban
•
Directions: Warner to 1st Ave
Other
Calculation
•
Dom: 173
•
Cdom: 173
The information contained in this listing has not been verified by Flyhomes and should be verified by the buyer.
Data last updated: Apr 22, 2021 4:51am
Neighborhood snapshot
32
Properties for sale
5
Median days on market
$260.00
Median sold price/sqft
100.63%
Sold/List %
walk score® :
transit score® :
bike score® :
Property History
11/07/2020
11/07/2020
CRMLS #SN20030794
pending
CRMLS #SN20030794
$1,250,000
—
03/04/2020
03/04/2020
CRMLS #SN20030794
pending
CRMLS #SN20030794
$1,250,000
—
02/11/2020
02/11/2020
CRMLS #SN20030794
active
CRMLS #SN20030794
$1,250,000
--3.47%
02/11/2020
02/11/2020
CRMLS #SN20030794
active
CRMLS #SN20030794
$1,295,000
—
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California DRE #02012110
1 Homes are subject to our approval and must be listed within an MLS in the areas that Flyhomes operates. Homes are subject to inspections and other limitations.
