131 W 3rd, Chico, CA, CA 95926
- $829,000
- List Price
- $829,000
- Price Change
- ▼ $20,000 1778304861
- Status
- ACTIVE
- MLS#
- SN26059148
- County
- Butte
- Year Built
- 1963
- Building Square Feet
- 5,512
- Square Feet
- 6,098
- Days on Market
- 135
- Property Type
- Multifamily
- Stories
- Two Levels
- Virtual Tour 1
- https://my.matterport.com/show/?m=Xd8aogSJH1g&mls=1
Property Description
Avenues Multiplex consisting of 1 home and 2-4 apartments (Quadplex: 2 units + 2 additional non-conforming basement units + 1 single Family Home) Three blocks from Chico State and Enloe Hospital, This two-building, one-lot property offers a rare combination of immediate income and significant upside. The rear property (133) features a detached 3BD/2BA house with an one-car garage currently operating as a part-time AirBnB rental generating approximately $2,500/month with significant upside if operated full time. This home was fully remodeled with luxury amenities such as quartz countertops, stainless steel appliances, and high end luxury vinyl plank flooring. The front building delivers a remodeled 3BD/1BA and a 1BD/1BA, both tenanted and performing. Two additional basement units are present and occupied, each recently updated with new tile flooring, walk-in showers, and fresh paint. One basement unit is a 2/1 with mini split, washer/dryer, and quartz countertops. The second basement unit is a 1/ 1 that can rent connected to the top 1/1 to qualify this property for traditional residential financing. A clear path exists to bring all units into City of Chico conformance through targeted egress improvements converting this three unit into a five-unit asset.
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Additional Information
- Parcel Number
- 003064014000
- Common Interest
- Community Apartment
- Gross Scheduled Income
- $87,396
- Operating Expense
- 23923
- Net Operating Income
- $63,473
- Number of Buildings
- 2
- Lot Features
- 6-10 Units/Acre
- Appliances
- Dryer, Washer
- Heat
- Forced Air
- Garage Spaces Total
- 1
- Sewer
- Public Sewer
- Water
- Public
- Community Features
- Biking, Curbs
Listing courtesy of Listing Agent: Matthew Herman (matt@legacyinvestmentsre.com) from Listing Office: Keller Williams Realty Chico Area.
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.