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739 W 3rd Street

Chico, CA 95928
  • $1,095,000
  • STATUS: Active
  • ON SITE: 64 Days
  • ID#: SN22217021
UPDATED: 96 min ago
$1,095,000
  • 0
    BEDS
  • 0.08
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1908
County:

School Ratings & Info

Listing Agent(s): Brent Silberbauer of Exp Realty Of California, Inc. (888-584-9427)


Description

Rare opportunity to own a 5-unit boutique multi-family property located in the most prime student housing neighborhood that Chico has to offer. Student properties that are located from West 2nd St. to West 5th St and from Normal St. to Orange St., this area makes up what is called the "Golden Rectangle of Chico student housing. This is the most in-demand location for student housing and thus offers the highest income potential in the area. This property offers the easiest walk to Chico State, Historic Downtown Chico, the best college bar in America; Rileys Bar, multiple fraternities & sororities, fantastic local restaurants, coffee shops, and the location for both Thursday and Saturday Farmers Markets. Many students live in this neighborhood and dont need a car because they can walk and bike almost anywhere that they need to go. Its almost 100% student housing, but the advantages are that you have a constant steady flow of renters. The current owner just completed an extensive remodel of the larger three-bedroom, one-bath unit in September of 2022. This remodel was complete with new paint, flooring, countertops, HVAC system, fixtures, and more. The three-bedroom is the newest of the remodeled units, but the entire property has been well-maintained and is ready for its new owners. Call your favorite realtor and set up a tour!

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-12-10T00:28:06.927. 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 or Coldwell Banker C&C Properties. Licensed in the State of California, USA.
www.realestateredding.com/homes/133732677
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739 W 3rd Street Chico, CA 95928

  • Price: $1,095,000
  • Status: Active
  • On Site: 64 Days
  • Updated: 96 min ago
  • ID#: SN22217021
0
Beds
0
Baths
0
½ Baths
0.08
Acres
1908
Built
County:
Butte
Property Description
Rare opportunity to own a 5-unit boutique multi-family property located in the most prime student housing neighborhood that Chico has to offer. Student properties that are located from West 2nd St. to West 5th St and from Normal St. to Orange St., this area makes up what is called the "Golden Rectangle of Chico student housing. This is the most in-demand location for student housing and thus offers the highest income potential in the area. This property offers the easiest walk to Chico State, Historic Downtown Chico, the best college bar in America; Rileys Bar, multiple fraternities & sororities, fantastic local restaurants, coffee shops, and the location for both Thursday and Saturday Farmers Markets. Many students live in this neighborhood and dont need a car because they can walk and bike almost anywhere that they need to go. Its almost 100% student housing, but the advantages are that you have a constant steady flow of renters. The current owner just completed an extensive remodel of the larger three-bedroom, one-bath unit in September of 2022. This remodel was complete with new paint, flooring, countertops, HVAC system, fixtures, and more. The three-bedroom is the newest of the remodeled units, but the entire property has been well-maintained and is ready for its new owners. Call your favorite realtor and set up a tour!
Exterior Features

Exterior Features LightingRain Gutters Fencing Chain Link Foundation Details Concrete Perimeter Lot Features LevelNear Public TransitRectangular LotStreet LevelTreesWalkstreetYard Number Of Separate Electric Meters 5 Open Parking Spaces 2 Parking Features ConcreteDriveway LevelDrivewayOn StreetUncovered Parking Total 2 Pool Features None Pool Private YN No Property Attached YN Yes Road Frontage Type City Street Road Surface Type MaintainedPaved Roof Composition Spa Features None Spa YN No View Neighborhood View YN Yes

Interior Features

Appliances DishwasherElectric OvenElectric RangeFree-Standing RangeGas OvenGas RangeMicrowaveRefrigeratorSelf Cleaning OvenWater Heater Common Walls 2+ Common Walls Cooling Energy Star Qualified EquipmentHigh EfficiencyWall/Window Unit(S) Cooling YN Yes Fireplace Features None Fireplace YN No Flooring Laminate Heating Forced AirWall Furnace Heating YN Yes Interior Features Ceiling Fan(S)Granite CountersHigh CeilingsLaminate CountersRecessed LightingStorageBedroom On Main LevelJack And Jill Bath Window Features BlindsBay Window(S)Double Pane WindowsScreens

Property Features

Additional Parcels YN No Cap Rate 4.76 Common Interest None Community Features CurbsGutter(S)Storm Drain(S)Street LightsSidewalks Electric 220 Volts in Laundry Garage YN No Gross Income 83760 Gross Scheduled Income 83760 Insurance Expense 2500 Land Lease YN No Laundry Features Common Area Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan Maintenance Expense 2000 Net Operating Income 52151 New Construction YN No New Taxes Expense 12045 Number Of Separate Gas Meters 5 Number Of Separate Water Meters 1 Operating Expense 29096 Pest Control Expense 500 Possession Close Of Escrow Rent Control YN Yes Security Features Carbon Monoxide Detector(S)Smoke Detector(S) Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGas Trash Expense 0 Utilities Cable AvailableElectricity ConnectedPhone AvailableSewer ConnectedWater ConnectedOverhead Utilities Vacancy Allowance 2513 Vacancy Allowance Rate 3 Water Sewer Expense 1800 Water Source Public Zoning City



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-12-10T00:28:06.927. 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 or Coldwell Banker C&C Properties. Licensed in the State of California, USA.
 
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Coldwell Banker C&C Properties
2120 Churn Creek Rd.
Redding CA, 96002
Listing Agent(s): Brent Silberbauer of Exp Realty Of California, Inc. (888-584-9427)