488 E 3rd Street Chico, CA 95928

$925,000 Active

About the Property

Beautiful home in prime location walking distance to downtown Chico and Chico State University. The home has 9 bedrooms and 5 baths, and it is currently rented to college students for $6,000 per month. The current lease ends May 31, 2019, and a group of students has submitted applications to rent the home for $6,500 beginning June 1, 2019. Originally built in 1950 by the Enloe Family, the home was completely remodeled in 2008 with new electrical, plumbing, appliances, HVAC, roof, windows, light and plumbing fixtures, and new insulation in the walls and attic. Much of the original wood and tile flooring were preserved. The large kitchen features lots of cabinetry, granite counter tops, two sinks, two stoves, two microwaves and two refrigerators. The home also has a finished basement and two sets of washer and drier. All appliances are included with the sale of the home.

Property Information

Size 3,659 SqFt
Price/SqFt $253
Lot Size 0.24 Acres
Year Built 1950
Property Type Residential Income
Listing Number SN19071512
Listed 3/31/2019
Modified 4/26/2019
Listing Agent Mike McCrady
Listing Office Michael McCrady, Broker
Total Building 1
Total Units 1

Property Features

# Electric Meters
  • 1
# Gas Meters
  • 1
# Units Leased
  • 1
# Water Meters
  • 1
Construction Materials
  • Stucco
Cooling
  • Central Air
Electric
  • 220 Volts in Kitchen
Fencing
  • Wood
Fireplace
  • None
Garage Spaces
  • 0.00
Gross Income
  • 66600.00
Gross Operating Income
  • 72000.00
Gross Scheduled Income
  • 72000.00
Heating
  • Central
Levels
  • Two
Net Operating Income
  • 57125.00
Operating Expense
  • 14875.00
Parking Total
  • 6.00
Pool
  • None
Roofing
  • Composition
Sewer
  • Sewer Paid
StoriesTotal
  • 2
Style
  • Colonial
Total Actual Rent
  • 6000.00
Total Expenses
  • 14875.00
Uncovered Spaces
  • 6.00
Water Source
  • Public
Community Features
  • Sidewalks
  • Storm Drains
Exterior
  • Awning(s)
  • Rain Gutters
Interior
  • Granite Counters
  • High Ceilings
Utilities
  • Sewer Connected
  • Water Connected
Views
  • Neighborhood
  • Park/Greenbelt
Flooring
  • Carpet
  • Tile
  • Vinyl
  • Wood
Appliances
  • Gas Oven
  • Gas Range
  • Gas Cooktop
  • Gas Water Heater
  • Microwave
Tenant Pays
  • All Utilities
  • Cable TV
  • Electricity
  • Gas
  • Sewer
  • Water