194 Panama Avenue Chico, CA 95973

$465,000 Closed
  • Front view 194 Panama unit. 2 beds, 1.75 baths, berber carpet, tile flooring in kitchen & baths, forced-air heating and cooling. 1-car garage, private backyard. Front view 194 Panama unit. 2 beds, 1.75 baths, berber carpet, tile flooring in kitchen & baths, forced-air heating and cooling. 1-car garage, private backyard.
  • Front view 194 Panama unit. 2 beds, 1.75 baths, berber carpet, tile flooring in kitchen & baths, forced-air heating and cooling. 1-car garage, private backyard.
  • Corner view of 194 Panama duplex.
  • Street view of 2611 Rafael duplex. 2 bed, 1.75 bath just like Panama.
  • View of acreage attached to duplex from Panama Ave. Portion of lot rented at $250 monthly for equipment storage by local landscaper. Also a portion rented at $250 monthly from a local car dealership for overflow parking. Zoned Office-Residential, great upside for development.
  • View of north side of lot from San Jose Street. Curbs, gutters and sidewalks are existing.

About the Property

Please Note: This property has been SOLD

Unique investment opportunity! A 1.7 acre parcel with an existing duplex zoned Office-Residential. The duplex consists of two 2-bed, 2-bath units, with garages and private back yards. Forced-air heating and cooling, newer roof. Carpet and tile flooring, tile counter tops, and laundry hook-ups. Actually very nice units. With $500 monthly storage on the lot from 2 nearby business', this property's monthly income is $2,820. The real kicker is, the duplex can be split off, and the remaining approx 1.4 acres could be developed. Curbs, gutters and sidewalks existing, sewer in the street. Opportunity knocks rarely on a property like this!

Property Information

Size 2,110 SqFt
Price/SqFt $220
Lot Size 1.669 Acres
Year Built 1951
Property Type Residential Income
Listing Number CH16100143
Listed 5/9/2016
Modified 10/24/2016
Listing Agent Bill Campbell
Listing Office W.M. Campbell Real Estate
Total Building 1
Total Units 2

Property Features

# Electric Meters
  • 2
# Gas Meters
  • 2
# Units Leased
  • 2
# Water Meters
  • 1
Cooling
  • Central
Fireplace
  • None
Garage Spaces
  • 1.00
Gross Income
  • 2820.00
Gross Scheduled Income
  • 33840.00
Heating
  • Central Furnace
Levels
  • One
Net Operating Income
  • 21723.00
Operating Expense
  • 10898.00
Parking Total
  • 3.00
Pool
  • None
Roofing
  • Composition
Sewer
  • Conventional Septic
Style
  • Contemporary
Total Actual Rent
  • 2320.00
Views
  • Neighborhood
Water Source
  • Public
Tenant Pays
  • Electricity
  • Gas
  • Trash Collection
Utilities
  • Natural Gas Available
  • Sewer Available
  • Water Connected
Community Features
  • Curbs
  • Gutters
  • Sidewalks
  • Storm Drains
  • Valley