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155 Panama Ave

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A great investment opportunity! This property features very limited turnover (once a year on average). In total there are 13 units with 12 studio apartments and one one bedroom (#13). At the southern most end of the building there is a storage shed not currently accessible by residents. All walkways and sidewalks have just been repainted and the parking lot is soon to be re-striped. Laundry facilities available to residents. There is plenty of space for all residents to park one vehicle per unit and off street parking available if needed. As an option, the property could be sold as a package with the neighboring lot, 2568 Esplanade. The two lots and buildings total 19 units and make up Panama Springs Apartments. 2568 Esplanade features a laundry room on the eastern side of the building and a three bedroom unit/managers office on the western side. Please inquire about both lots if interested.
Directions: If headed north on Esplanade, take a right on Panama Avenue, building is located on the south side of Panama
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             Address: 155 Panama Ave Asking Price: $725,000
Lot #: Year Built: 1947
City: Chico Total Units: 13
State: California Total Bldg: 1
Zip: 95973 Floors: One
County: Butte Beds/Baths: 1 / 2
City or County Apx SqFt: 4,110
APN #: 006-060-055-000 Acres:
.26
Assessor
Additional Parcels: No Price/Unit: $55,769
Complex/Subdiv Price/Bed: $725,000
Builder: Price/SqFt: $176.4
Type: Income Property HOA names:
Status: Active HOA Dues:
Sale Type: Standard HOA Dues 2:
Zoning: Rent Control: No
Senior Commu: No Laundry Equip:
Annual GSI: $95,880 Annual OE: $54,767
Monthly GSI: $95,880 OE: $54,767
GOI: $ Gas: $
NOI: $41,113 Electric: $14,704
Gr Spendable: $ Water/Sewer: $3,427
Garage Income: $ Trash: $311
Laundry Income: $ Pool: $
Other Income 1: $ Insurance: $3,779
Other Income 2: $ Licenses: $
Other Inc. Desc: Manager: $6,369
Gross Multiplier: 0 Prof. Mgmt: $6,369
Cap Rate: 0 Maintenance: $15,156
Vacancy Allow: $ Gardener: $1,340
Land Value: $ Workman's Comp: $910
Improvements: $ Furniture Rplcmt: $
Personal Prop: $ Pest Control: $1,237
Have: Supplies: $
Gross Equity: $ Cable TV: $1,825
Present Loans: $ New Taxes: $4,565
Ann. Loan Pymt: $ Other Expense: $1,144
Listing Date: 8/9/2017 Original Price: $725,000
Today's Date: 11/18/2017 Price Change: $
Days Listed: 101 Current Price: $725,000
Our Client's Bonus: $2,175
Great Service and a Bonus
Feel free to ask for more information, showings, or an objective opinion of value for any property. I have decades of experience selling income property here in Chico and my team and I are ready to work for you!

If you ask me to be your realtor, and you eventually purchase this property through me, I'll share $2,175 of my commission from the seller with you. I offer an incentive for buying almost any property you see here on my website with me as your realtor.

As your realtor, I will work with you to help you find the right property, guide you through the entire buying process, and be there for you after the sale. Getting some of my commission to help reduce your closing costs is just a nice bonus. Take a look at our testimonials and then let us go to work to make you that happy!

Susie Stephens
Owner, Broker, Realtor
Chico Real Estate, Inc.
1250 East Ave. Chico, Ca
530-898-1250
Contact us
Units Description
Type 1
# Units: 12 Actual Rent: $7,316
# Beds: Total Rent: $7,316
# Baths: 1 Pro Forma: $7,316
Furnished: Unfurnished Garage Spaces:
0
Apx SqFt: Type: 1
Description:
Type 2
# Units: 1 Actual Rent: $674
# Beds: 1 Total Rent: $674
# Baths: 1 Pro Forma: $674
Furnished: Unfurnished Garage Spaces:
0
Apx SqFt: Type: 2
Description:
Number of Units With Approx Unit Sizes Unit Totals
Separate Electric Meters: 1
Separate Gas Meters: 1
Separate Water Meters: 1
Units With Carpet: 13
Units With Ranges: 13
Units With Refrigerator: 13
Units With Wall AC: 13
# of Units Leased: 13
Total Actual Rent: $7,990
Utilities and Interior
Utilities/Electric Sewer Water
- Cable Available
- Phone Available
- Sewer Connected
- Water Connected

- Conventional Septic
Interior Heating Cooling
- Wall Heater
- Natural Gas
- Wall Window
- Electric
Flooring Rooms Appliances
- Carpet
- Vinyl
- All Bedrooms Down
- Electric Stove
- Freezer
- Gas Oven
- Gas Stove
- Gas Water Heater
- Refrigerator
Door Window Accessibility Features
- Doors - Swing In
- No Interior Steps
- Parking
Laundry Fireplace Security
- Community
- None
Exterior
Construction Foundation Roofing
- Composition
Style Exterior Condition
Road Features Attached Structure Other Structures
- Yes
Garage/Parking Common Walls Fencing

- 2+ Common Walls
- No One Above
Lot Pool Spa
- Garden
- None
Community Assoc. Amenities View
- Curbs
- Sidewalks
Financial
Disclosures Terms Possession
- Cash
- Cash To New Loan
- Close Of Escrow
Assessments Tenant Pays Land Lease
- Cable TV
Tax Info Price Excludes Price Includes

 
Green
Water Conservation Energy Generation Energy Efficient
Neighborhoods, Parks and Areas
-
Listing Updates
Update Old Value New Value Price Change Date Time
List Date 8/9/2017
Entered in MLS 9/19/2017
20 new photos 0 20 9/19/2017 4:23 PM
1 new photos 20 21 9/21/2017 9:38 AM
1 new photos 21 22 10/2/2017 10:25 AM
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~ Click on any photo below to enlarge or print it ~
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Information provided to the MLS courtesy of Ruby, Larry of Sheraton Investment Services.

Please verify all information before relying on it. There may be a difference between actual and provided information. Based on information from California Regional Multiple Listing Service, Inc. as of October 02, 2017.
155 Panama Ave, Chico, California, 95973, was last changed by the listing agent and consequently updated here on: October 03, 2017. All Chico income property for sale and MLS data were last updated here on chicorealestate.net on: November 18, 2017 11:37 AM.