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647 W 1St Ave

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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.
Directions: Warner to 1st Ave
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             Address: 647 W 1St Ave Asking Price: $1,295,000
Lot #: Year Built: 1965
City: Chico Total Units: 12
State: California Total Bldg: 4
Zip: 95926 Floors: Two
County: Butte Beds/Baths: 2 / 2
City or County Apx SqFt: 8,288
APN #: 043-180-005-000 Acres:
.38
Owner
Additional Parcels: No Price/Unit: $107,917
Complex/Subdiv Price/Bed: $647,500
Builder: Price/SqFt: $156.25
Type: Income Property HOA names:
Status: Active HOA Dues:
Sale Type: Standard HOA Dues 2:
Zoning: R3 Rent Control: Yes
Senior Commu: No Laundry Equip:
Annual GSI: $106,608 Annual OE: $39,244
Monthly GSI: $8,884 OE: $39,244
GOI: $ Gas: $
NOI: $64,166 Electric: $150
Gr Spendable: $ Water/Sewer: $5,100
Garage Income: $ Trash: $1,920
Laundry Income: $ Pool: $
Other Income 1: $ Insurance: $2,300
Other Income 2: $ Licenses: $
Other Inc. Desc: Manager: $8,529
Gross Multiplier: 0 Prof. Mgmt: $8,529
Cap Rate: 0 Maintenance: $3,000
Vacancy Allow: $ Gardener: $1,000
Land Value: $ Workman's Comp: $
Improvements: $ Furniture Rplcmt: $
Personal Prop: $ Pest Control: $
Have: Supplies: $500
Gross Equity: $ Cable TV: $
Present Loans: $ New Taxes: $14,245
Ann. Loan Pymt: $ Other Expense: $2,500 Turns
On Market:
1/11/2019
Original Price: $1,295,000
Days On Market:
72 days
Listing History
Price Change: $
Current Price: $1,295,000
Get Your Gift: $3,238
Great Service and a Gift
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 $3,238 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: 4 Actual Rent: $693
# Beds: Total Rent: $693
# Baths: 1 Pro Forma: $695
Furnished: Unfurnished Garage Spaces:
0
Apx SqFt: Type: 1
Description:
Type 2
# Units: 8 Actual Rent: $791
# Beds: 2 Total Rent: $791
# Baths: 1 Pro Forma: $850
Furnished: Unfurnished Garage Spaces:
0
Apx SqFt: Type: 2
Description:
Number of Units With Approx Unit Sizes Unit Totals
Separate Electric Meters: 12
Separate Gas Meters: 12
Separate Water Meters: 2
# of Units Leased: 0
Total Actual Rent: $
Utilities and Interior
Utilities/Electric Sewer Water

- Public Sewer
Interior Heating Cooling
Flooring Rooms Appliances
Door Window Accessibility Features
Laundry Fireplace Security
- Community
Exterior
Construction Foundation Roofing
Style Exterior Condition
Road Features Attached Structure Other Structures
- No
Garage/Parking Common Walls Fencing

- No Common Walls
Lot Pool Spa
- Lawn
- None
Community Assoc. Amenities View
- Urban
Financial
Disclosures Terms Possession
- Submit
Assessments Tenant Pays Land Lease
Tax Info Price Excludes Price Includes

 
Green
Water Conservation Energy Generation Energy Efficient
Neighborhoods, Parks and Areas
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Some areas also have photos, video, and comments.
647 W 1St Ave is in: The Avenues - Chico Vecino
647 W 1St Ave is in: West Avenues
647 W 1St Ave
is .08 miles from:
California State University, Chico California State University, Chico
647 W 1St Ave is in: North Campus-Rancheria
Listing History The current listing's status, price, and update history
Update Old Value New Value Price Change Date Time
List Date 1/11/2019
On Market Date 1/11/2019
11 new photos 0 11 1/11/2019 4:26 PM
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~ Click on any photo below to enlarge or print it ~
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647 W 1ST AVE, Chico, Ca

Information provided to the MLS courtesy of Vaught, Ryan (Bre#: 01444141) of Ryno Company.

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 January 11, 2019.
647 W 1St Ave, Chico, California, 95926, was last changed by the listing agent and consequently updated here on: January 12, 2019. All Chico income property for sale and MLS data were last updated here on chicorealestate.net on: March 26, 2019 11:34 AM.