NOT LISTED FOR SALE

Estimated Value: $748,000 - $905,000

4 Beds
2 Baths
5,376 Sq Ft
$155/Sq Ft Est. Value

Last Sold February 28, 2018

Last sale price $575,000 $107 Per Sq Ft

Est. 45% increase in value since last sale

Current estimated payment $5,122/month

54 Days on Market

Highlights

  • Private Yard
  • Laundry Room
  • Central Heating
  • Chico Junior High School Rated A-

About This Home

As of February 2018

1 & 2 Klondike Court, Located 2 blocks North of Chico State campus this 4 plex has upgraded 4 bedroom 2 bath units all leased until 6/30/2018. Units lease quickly and many are upgraded fully, or partially. Property has a solid rental history and has been professionally managed. Property cashflows well with 30% down, see included financials and proforma. Units are rented for an average of $1150 including water fees and rent. Neighboring Klondike units are leased for as much as $1350/mo.

Last Agent to Sell the Property

Ryan Vaught

Ryno Company License #01444141 Listed on: 11/30/2017

Last Buyer's Agent

NoEmail NoEmail

NONMEMBER MRML

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,113

Year Built

  • Built in 1983

Lot Details

  • 10,019 Sq Ft Lot
  • 1 Common Wall
  • Private Yard

Home Design

  • Property Attached

Interior Spaces

  • 5,376 Sq Ft Home
  • 2-Story Property
  • Living Room with Fireplace
  • Laundry Room

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Bathrooms

Parking

  • Parking Available
  • Assigned Parking

Additional Features

  • Urban Location
  • Central Heating

Listing and Financial Details

  • Tenant pays for cable TV, electricity, telephone
  • Assessor Parcel Number 043162026000

Community Details

Overview

  • 2 Buildings
  • 4 Units

Building Details

  • 4 Leased Units
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 2 Separate Water Meters
  • Gardener Expense $480
  • Insurance Expense $1,100
  • Maintenance Expense $4,000
  • Pest Control $450
  • Professional Management Expense $5,496
  • Trash Expense $1,464
  • Water Sewer Expense $3,000
  • New Taxes Expense $5,750
  • Operating Expense $21,740
  • Gross Income $4,580
  • Net Operating Income $32,121

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,113

Year Built

Built in 1983

Lot Details

0

Listing Details

  • CapRate: 5.59
  • Price Per Unit: 143750
  • Professional Management Expense: 5496.00
  • Property Attached: Yes
  • Subdivision Name Other: University Court
  • Water Sewer Expenses: 3000.00
  • Zoning: 00
  • Property Type: Residential Income
  • Gardener Expense: 480.00
  • Parcel Number: 043162026000
  • Year Built: 1983
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Stories: 2
  • Common Walls: 1 Common Wall
  • Fireplace Features: Living Room
  • Levels: Two
  • Price Per Square Foot: 106.96

Exterior Features

  • Pool Private: No

Garage/Parking

  • Parking: Yes
  • Parking Features: Assigned

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Central
  • Laundry Features: Inside
  • Pest Control Expense: 450.00
  • Sewer: Public Sewer
  • Trash Expense: 1464.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Yard
  • Lot Size Sq Ft: 10019.00

Rental Info

  • Tenant Pays: Cable TV, Electricity, Telephone

Multi Family

  • Gross Income: 4580.00
  • Gross Multiplier: 10.46
  • Gross Operating Income: 53861.00
  • Gross Scheduled Income: 54960.00
  • Insurance Expense: 1100.00
  • Maintenance Expense: 4000.00
  • Net Operating Income: 32121.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 2
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Number With Dishwasher: 4
  • Number With Range: 4
  • Number With Refrigerator: 4
  • Operating Expense: 21740.00
  • Rent Control: No
  • Total Actual Rent: 4580.00
  • Total Expenses: 21740.00
  • Vacancy Allowance Rate: 2.00

Tax Info

  • New Taxes Expense: 5750.00
  • Tax Census Tract: 6.04

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Mar 18, 2021
Sold by
Bergmann Arthur and Bergmann Heather
Bought by
Bergmann Arthur and Bergmann Heather
Current Estimated Value
$831,142

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$425,000
Outstanding Balance
$384,856
Interest Rate
3.05%
Mortgage Type
New Conventional
Estimated Equity
$413,615

Purchase Details

Listed on
Nov 30, 2017
Closed on
Feb 26, 2018
Sold by
Lange David M and Lange Linda K
Bought by
Bergmann Arthur and Bergmann Heather
Seller's Agent
Ryan Vaught
Ryno Company
Buyer's Agent
NoEmail NoEmail
NONMEMBER MRML
List Price
$575,000
Sold Price
$575,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
4.49%
Original Mortgage
$344,500
Interest Rate
4.44%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jan 8, 2007
Sold by
Lange David M and Lange Linda K
Bought by
Lange David M and Lange Linda K

Purchase Details

Closed on
Mar 10, 2005
Sold by
Mcardell Richard J
Bought by
Lange David M and Lange Linda K

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$379,000
Interest Rate
5.6%
Mortgage Type
Fannie Mae Freddie Mac

Purchase Details

Closed on
Jun 14, 2002
Sold by
Archbold Kevin
Bought by
Mcardell Richard J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$360,000
Interest Rate
6.86%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Feb 29, 2000
Sold by
Campbell Dennis A
Bought by
Archbold Kevin

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$115,000
Interest Rate
8.37%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jun 25, 1998
Sold by
Campbell Dennis A and Archbold Kevin
Bought by
Campbell Dennis A and Archbold Kevin

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$30,000
Interest Rate
7.17%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jul 11, 1997
Sold by
Ellen B M and Ellen Phyllis
Bought by
Federal National Mortgage Association
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Bergmann Arthur -- Fidelity National Title
Bergmann Arthur $575,000 Mid Valley Title & Escsrow C
Lange David M -- Bidwell Title & Escrow Co
Lange David M $530,000 Bidwell Title & Escrow Co
Mcardell Richard J $450,000 Bidwell Title & Escrow Compa
Archbold Kevin -- Bidwell Title & Escrow Co
Campbell Dennis A $5,000 Bidwell Title & Escrow
Federal National Mortgage Association $188,427 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Bergmann Arthur $425,000
Closed Bergmann Arthur $344,500
Previous Owner Lange David M $315,700
Previous Owner Lange David M $379,000
Previous Owner Mcardell Richard J $360,000
Previous Owner Campbell Dennis A $63,000
Previous Owner Archbold Kevin $115,000
Previous Owner Campbell Dennis A $32,000
Previous Owner Campbell Dennis A $30,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/28/2018 02/28/18 Sold $575,000 0.0% $107 / Sq Ft
01/23/2018 01/23/18 Pending -- -- --
01/16/2018 01/16/18 For Sale $575,000 0.0% $107 / Sq Ft
01/08/2018 01/08/18 Pending -- -- --
12/22/2017 12/22/17 For Sale $575,000 0.0% $107 / Sq Ft
12/11/2017 12/11/17 Pending -- -- --
11/30/2017 11/30/17 For Sale $575,000 -- $107 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $7,113 $653,971 $147,916 $506,055
2024 $7,113 $639,188 $145,016 $494,172
2023 $7,030 $628,656 $142,173 $486,483
2022 $6,918 $616,370 $139,386 $476,984
2021 $6,788 $604,324 $136,653 $467,671
2020 $6,769 $598,149 $135,252 $462,897
2019 $6,647 $586,460 $132,600 $453,860
2018 $6,549 $577,000 $130,000 $447,000
2017 $5,504 $482,000 $125,000 $357,000
2016 $4,655 $437,000 $110,000 $327,000
2015 $4,405 $407,000 $105,000 $302,000
2014 $4,331 $402,000 $100,000 $302,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SN17266591

California Regional Multiple Listing Service (CRMLS)

APN: 043-162-026-000