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931 W East Avenue

Chico, CA 95926
  • $3,250,000
  • STATUS: Active
  • ON SITE: 147 Days
  • MLS #: 223095692
$3,250,000
  • 0
    BEDS
  • 0.75
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1980
County:
Area:

School Information

Elementary School:
Middle School:
High School:
School District:

Description

Gravitas Commercial Real Estate is pleased to present the charming 20 unit apartment located at 931 W. East Avenue in Chico. Built in 1980, the subject property is 14,899 square feet and consists of sixteen (16) one-bedroom one bath units of approximately 720 square feet each and four (4) two-bedroom one bath units measuring approximately 845 square feet each. The Compass Point Apartments features an on-site laundry room whose machines are owned by current ownership. Each unit upstairs has a balcony while the downstairs units each have patios providing privacy for tenants. There is ample off-street parking at this quiet complex which benefits from great visibility on W. East Avenue while also being nestled amongst quaint single family residences. In-place income at the property presents a tremendous opportunity for the new owner to move rents to market over time. Current leases represent about an 11.8% loss-to-lease and plenty of opportunity to prune expenses. Pro-forma cap rate is 5.34% with a 12.6 GRM.

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Metrolist MLS logo © 2024 MetroList® MLS. All rights reserved. All measurements and all calculations of area are approximate. Information provided by Seller/Other sources, not verified by Broker. All interested persons should independently verify accuracy of information. Provided properties may or may not be listed by the office/agent presenting the information. Data last updated 2024-02-27T23:39:20.933. MetroList® MLS Terms of Use. IDX provided by BoomTown.
www.norcalhomepros.com/homes/144037835
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931 W East Avenue Chico, CA 95926

  • Price: $3,250,000
  • Status: Active
  • On Site: 147 Days
  • MLS #: 223095692
0
Beds
0
Baths
0
½ Baths
0.75
Acres
1980
Built
Neighborhood:
12544
County:
Butte
Area:
12544
Elementary School:
Chico Unified
Middle School:
Chico Unified
High School:
Chico Unified
School District:
Butte
Property Description
Gravitas Commercial Real Estate is pleased to present the charming 20 unit apartment located at 931 W. East Avenue in Chico. Built in 1980, the subject property is 14,899 square feet and consists of sixteen (16) one-bedroom one bath units of approximately 720 square feet each and four (4) two-bedroom one bath units measuring approximately 845 square feet each. The Compass Point Apartments features an on-site laundry room whose machines are owned by current ownership. Each unit upstairs has a balcony while the downstairs units each have patios providing privacy for tenants. There is ample off-street parking at this quiet complex which benefits from great visibility on W. East Avenue while also being nestled amongst quaint single family residences. In-place income at the property presents a tremendous opportunity for the new owner to move rents to market over time. Current leases represent about an 11.8% loss-to-lease and plenty of opportunity to prune expenses. Pro-forma cap rate is 5.34% with a 12.6 GRM.
Exterior Features

Carport Spaces 0.00 Construction Materials BrickWood Siding Covered Spaces 0.00 Foundation Concrete Independent Parking Spaces 0 Lot Features Corner Num Of Floors 2 Num Of Guest Spaces 0 Open Parking Spaces 0.00 Parking Features Off Street Tandem Parking Spaces 0 Total Parking Spaces 0.00

Interior Features

Cooling Other Flooring Other Heating Other Laundry Features Coin Operated Num Of Rooms 0 Num Of Studio Units 0 Num Of1 Bedroom Units 16 Num Of2 Bedroom Units 4 Num Of3 Bedroom Units 0 Num Of4 Bedroom Units 0 Unit1 Approx Sq Ft 0 Unit1 Bedrooms 0 Unit1 Full Baths 0 Unit1 Partial Baths 0 Unit1 Rent 0 Unit1 Rooms 0 Unit2 Approx Sq Ft 0 Unit2 Bedrooms 0 Unit2 Full Baths 0 Unit2 Partial Baths 0 Unit2 Rent 0 Unit2 Rooms 0 Unit3 Approx Sq Ft 0 Unit3 Bedrooms 0 Unit3 Full Baths 0 Unit3 Partial Baths 0 Unit3 Rent 0 Unit3 Rooms 0 Unit4 Approx Sq Ft 0 Unit4 Bedrooms 0 Unit4 Full Baths 0 Unit4 Partial Baths 0 Unit4 Rent 0 Unit4 Rooms 0

Property Features

1 Bedroom Annual Occupancy 0 2 Bedroom Annual Occupancy 0 3 Bedroom Annual Occupancy 0 4 Bedroom Annual Occupancy 0 Association No Association Fee 0 Elevation 0 Income Includes Other Irrigation Other Lease Deposit 0 Num Of Commercial Units 0 Property Subtype 5 or More Units Property Type Residential Income Sewer Other Special Listing Conditions None Studio Annual Occupancy 0 Subtype Description Apartments Utilities Other Water Source Other Zoning R4

Metrolist MLS logo Listing provided courtesy of Gravitas Commercial Real Estate: . Listing information © 2024 MetroList Services, Inc.


Metrolist MLS logo © 2024 MetroList® MLS. All rights reserved. All measurements and all calculations of area are approximate. Information provided by Seller/Other sources, not verified by Broker. All interested persons should independently verify accuracy of information. Provided properties may or may not be listed by the office/agent presenting the information. Data last updated 2024-02-27T23:39:20.933. MetroList® MLS Terms of Use. IDX provided by BoomTown.
 
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