NOT LISTED FOR SALE
2 Beds
2 Baths
1,196 Sq Ft
3,920 Sq Ft Lot

Last Sold August 05, 2024

Last sale price $379,950 $318 Per Sq Ft

14 Days on Market

Highlights

  • Wood Flooring
  • No HOA
  • Two Homes on a Lot
  • Chico Junior High School Rated A-
  • Cottage
  • Cooling System Mounted To A Wall/Window

About This Home

As of August 2024

Two units on one lot within walking distance to Chico State. Having a walk score of 88 and a Bike score of 97 places this student housing investment in a very desirable area targeted by investors.The front unit is a well kept 2 bedroom, 1 bath historic Sears Catalog home with hardwood floors, charming front porch and indoor laundry. Current rent is $1,750/mo. Shared backyard. The second unit is a very nice condition studio with tile flooring, currently rented for $700/mo. Excellent rental history for both units.The photos of the house were taken prior to it being rented to current tenants Don't miss this unique investment opportunity.

Last Agent to Sell the Property

Kenneth Winslow

Re/Max of Chico Brokerage Phone: 530-570-1021 License #00956005 Listed on: 04/16/2024

Re/Max of Chico

Co-Listed By

Heidi Brandt-Winslow

Re/Max of Chico Brokerage Phone: 530-570-1021 License #01441598

Last Buyer's Agent

Brian Bernedo

Brian Bernedo Real Estate License #01822607

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1927

Lot Details

  • 3,920 Sq Ft Lot
  • No Common Walls
  • Density is 2-5 Units/Acre

Home Design

  • Duplex
  • Cottage
  • Entry on the 1st floor
  • Composition Roof

Interior Spaces

  • 1,196 Sq Ft Home
  • 1-Story Property
  • Wood Flooring
  • Gas Range

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 2 Bathrooms

Laundry

  • Laundry Room
  • 220 Volts In Laundry

Parking

  • 2 Open Parking Spaces
  • 2 Parking Spaces

Utilities

  • Cooling System Mounted To A Wall/Window
  • Floor Furnace
  • Wall Furnace

Additional Features

  • Two Homes on a Lot
  • Suburban Location

Listing and Financial Details

  • Tenant pays for electricity
  • Legal Lot and Block 5 / 91
  • Assessor Parcel Number 004218010000

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 2 Units

Building Details

  • 1 Separate Electric Meter
  • 1 Separate Gas Meter
  • 1 Separate Water Meter
  • Insurance Expense $1,556
  • Trash Expense $480
  • Water Sewer Expense $1,400
  • New Taxes Expense $4,290
  • Operating Expense $7,726
  • Gross Income $19,408
  • Net Operating Income $21,674

Property Details

Home Type

Multi-Family

Year Built

Built in 1927

Lot Details

0

Listing Details

  • CapRate: 5.50
  • Property Attached: No
  • Road Frontage Type: City Street
  • Water Sewer Expenses: 1400.00
  • Zoning: R3
  • Architectural Style: Cottage
  • Property Sub Type: Duplex
  • Property Type: Residential Income
  • Parcel Number: 004218010000
  • Year Built: 1927
  • Special Features: None

Interior Features

  • Fireplace: No
  • Stories: 1
  • Common Walls: No Common Walls
  • Flooring: Wood
  • Appliances: Yes
  • Entry Level: 1
  • Levels: One
  • Price Per Square Foot: 317.68
  • Room Type: All Bedrooms Down

Exterior Features

  • Other Structures: Two On A Lot
  • Pool Private: No
  • Roof: Composition

Garage/Parking

  • Total Parking Spaces: 2.00
  • Uncovered Spaces: 2.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas Range
  • Electric: 220 Volts in Laundry
  • Heating Type: Floor Furnace, Wall Furnace
  • Laundry Features: Individual Room
  • Sewer: Public Sewer
  • Trash Expense: 480.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 3920.00
  • Lot Size Acres: 0.0900
  • Latitude Manual: 39.72474200

Rental Info

  • Tenant Pays: Electricity

Multi Family

  • Average1 Bed Area: 932 Square Feet
  • Average Studio Area: 264 Square Feet
  • Gross Income: 19408.00
  • Gross Multiplier: 13.00
  • Gross Scheduled Income: 29400.00
  • Insurance Expense: 1556.00
  • Lot Size Area: 3920.0000 Square Feet
  • Net Operating Income: 21674.00
  • Number Of Separate Electric Meters: 1
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 2
  • Number With Patio: 1
  • Number With Range: 2
  • Number With Refrigerator: 2
  • Operating Expense: 7726.00
  • Rent Control: No
  • Total Expenses: 7726.00

Tax Info

  • New Taxes Expense: 4290.00
  • Tax Block: 91
  • Tax Census Tract: 10.00
  • Tax Lot: 5
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/05/2024 08/05/24 Sold $379,950 -2.6% $318 / Sq Ft
04/30/2024 04/30/24 Pending -- -- --
04/16/2024 04/16/24 For Sale $389,950 -- $326 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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 $3,246 $379,950 $170,000 $209,950
2024 $3,246 $291,050 $126,543 $164,507
2023 $3,208 $285,344 $124,062 $161,282
2022 $3,159 $279,750 $121,630 $158,120
2021 $3,096 $274,266 $119,246 $155,020
2020 $3,090 $271,455 $118,024 $153,431
2019 $3,037 $266,133 $115,710 $150,423
2018 $2,980 $260,916 $113,442 $147,474
2017 $2,917 $255,801 $111,218 $144,583
2016 $2,237 $210,000 $150,000 $60,000
2015 $2,269 $210,000 $105,000 $105,000
2014 $2,104 $195,000 $105,000 $90,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SN24074406

California Regional Multiple Listing Service (CRMLS)