NOT LISTED FOR SALE

Estimated Value: $820,052 - $1,139,000

10 Beds
5 Baths
3,710 Sq Ft
$260/Sq Ft Est. Value

Last Sold January 31, 2014

Last sale price $575,000 $155 Per Sq Ft

Est. 68% increase in value since last sale

Current estimated payment $5,676/month

20 Days on Market

Highlights

  • Detached Carport Space
  • Chico Junior High School Rated A-
  • 4-minute walk to Rotary Park

About This Home

As of January 2014

This classic 1914 built 10 bedroom 5 bathroom home has unique charm and character. This property has been used as a fraternity house and is currently leased for $5200 expiring 6/2014. Buyer will have option to sign new leases with existing tenants. House has approx. 7 off street parking spots, a fenced backyard and dual kitchens. Property can accommodate up to 15 tenants comfortably (2 singles, 2 doubles, 3 triples) and has been leased for up to $7000 in past years. See included package and financials.

Last Agent to Sell the Property

Ryan Vaught

Ryno Company License #01444141 Listed on: 11/12/2013

Last Buyer's Agent

Roseann Bradley

Sally Proctor, Broker License #01276220

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1914

Lot Details

  • 8,712 Sq Ft Lot
  • No Common Walls
  • Density is up to 1 Unit/Acre

Parking

  • 2 Car Garage
  • Detached Carport Space
  • Parking Available
  • Unassigned Parking

Home Design

  • 3,710 Sq Ft Home

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 5 Bathrooms

Outdoor Features

  • Exterior Lighting

Community Details

  • 1 Leased Unit
  • 1 Separate Electric Meter
  • 1 Separate Gas Meter
  • 1 Separate Water Meter
  • Gardener Expense $1,730
  • Insurance Expense $1,621
  • Maintenance Expense $1,893
  • Trash Expense $6,184
  • New Taxes Expense $7,140
  • Gross Income $5,200
  • Net Operating Income $37,072

Listing and Financial Details

  • Tenant pays for cable TV, electricity, janitorial service, water
  • Assessor Parcel Number 004128001000

Property Details

Home Type

Multi-Family

Year Built

Built in 1914

Lot Details

0

Parking

2

Listing Details

  • CapRate: 6.23
  • Property Attached: No
  • Property Type: Residential Income
  • Gardener Expense: 1730.00
  • Parcel Number: 004128001000
  • Year Built: 1914
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: No Common Walls
  • Levels: Two
  • Price Per Square Foot: 154.99

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 2.00
  • Parking: Yes
  • Parking Features: Detached Carport, Unassigned
  • Total Parking Spaces: 10.00

Utilities

  • Utilities: Sewer Connected
  • Trash Expense: 6184.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Street Lights

Lot Info

  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 8712.00
  • Lot Size Acres: 0.2000

Rental Info

  • Tenant Pays: Cable TV, Electricity, Janitorial Service, Water

Multi Family

  • Gross Income: 5200.00
  • Gross Multiplier: 9.54
  • Gross Scheduled Income: 62400.00
  • Insurance Expense: 1621.00
  • Lot Size Area: 8712.0000 Square Feet
  • Maintenance Expense: 1893.00
  • Net Operating Income: 37072.00
  • Number Of Separate Electric Meters: 1
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 1
  • Number Of Units Total: 1
  • Number With Dishwasher: 1
  • Number With Disposal: 1
  • Number With Range: 2
  • Number With Refrigerator: 2
  • Operating Expense: 22208.00
  • Operating Expense Percent: 36.00
  • Rent Control: No
  • Total Actual Rent: 5200.00

Tax Info

  • New Taxes Expense: 7140.00
  • Tax Year: 2012

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Aug 14, 2014
Sold by
Theta Upsilon Chapter Of Alpha Phi Inter
Bought by
Alpha Phi International Fraternity Natio
Current Estimated Value
$963,513

Purchase Details

Listed on
Nov 12, 2013
Closed on
Jan 24, 2014
Sold by
Tarter Howard L and The Horace V Tarter Grandchild
Bought by
Tarter Gregory E and The Horace V Tarter Trust
Seller's Agent
Ryan Vaught
Ryno Company
Buyer's Agent
Roseann Bradley
Sally Proctor, Broker
List Price
$595,000
Sold Price
$575,000
Premium/Discount to List
-$20,000
-3.36%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
4.43%

Purchase Details

Closed on
Jul 14, 2008
Sold by
Matson David W and Edwards Tim
Bought by
Tarter Howard L and Horace V Tarter Grandchildrens Trust

Purchase Details

Closed on
Apr 3, 2006
Sold by
Edwards Tim and Edwards Ann M
Bought by
Matson David W and Edwards Tim

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$70,000
Interest Rate
6.35%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jan 28, 2004
Sold by
Zeta Tau Alpha Fraternity Housing Corp
Bought by
Edwards Tim

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$300,000
Interest Rate
5.79%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
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
Alpha Phi International Fraternity Natio $600,000 Fidelity National Title Co
Tarter Gregory E $575,000 Fidelity Natl Title Co Of Ca
Tarter Howard L -- None Available
Matson David W -- Fidelity Natl Title Co Of Ca
Edwards Tim $490,000 Fidelity Natl Title Of Ca
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Matson David W $70,000
Previous Owner Edwards Tim $300,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
01/31/2014 01/31/14 Sold $575,000 -3.4% $155 / Sq Ft
12/02/2013 12/02/13 Pending -- -- --
11/12/2013 11/12/13 For Sale $595,000 -- $160 / 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 $7,718 $712,053 $216,328 $495,725
2024 $7,718 $677,504 $212,087 $465,417
2023 $7,631 $685,221 $207,929 $477,292
2022 $7,515 $672,198 $203,852 $468,346
2021 $7,378 $659,430 $199,855 $459,575
2020 $7,360 $652,884 $197,806 $455,078
2019 $7,231 $640,495 $193,928 $446,567
2018 $7,103 $628,349 $190,126 $438,223
2017 $6,965 $616,442 $186,399 $430,043
2016 $6,360 $604,768 $182,745 $422,023
2015 $6,363 $596,000 $180,000 $416,000
2014 $6,439 $606,000 $180,000 $426,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CH13229481

California Regional Multiple Listing Service (CRMLS)

APN: 004-128-001-000