825 Rio Chico Way Chico, CA 95928

$497,000 Pending

About the Property

Very desirable location! This charming three unit home is in a neighborhood where very few of these properties ever reach the open market as the strong local buyers/property owners vie for the few available properties. The CSUC campus is located immediately North and East of the property with "downtown" facilities within 2-4 blocks (walking and bicycle distance) as this area is the most popular with college age tenants due to the proximity of the University as well as the appealing eclectic mix of dwellings most of which are of historical significance and fairly well maintained. A 2019 appraisal states, "The existing residence in "as is" condition is highly marketable and located in a 100% college rental neighborhood. There were many items of postponed or deferred maintenance noted, however, there was no evidence of internal/external depreciation. This dwelling is said to have been the personal residence of the first president of the "Chico Normal School" now known as California State University-Chico CSUC-Chico." There is a full basement with half concrete, half dirt flooring. Plenty of off-street parking in rear ally. This is definitely a rare opportunity to own a piece of Chico's history!

Property Information

Size 2,480 SqFt
Price/SqFt $200
Lot Size 0.17 Acres
Year Built 1905
Property Type Residential Income
Zoning R3
Listing Number SN20096149
Listed 5/18/2020
Modified 5/24/2020
Listing Agent Jeanne Smith
Listing Office Parkway Real Estate Co.
Total Building 1
Total Units 3

Property Features

# Electric Meters
  • 3
# Gas Meters
  • 3
# Water Meters
  • 1
Accessibility Features
  • Parking
Appliances
  • Water Heater
Construction Materials
  • Wood Siding
Electric
  • Standard
Fireplace
  • Living Room
Garage Spaces
  • 8.00
Gross Income
  • 34200.00
Gross Operating Income
  • 3642.00
Gross Scheduled Income
  • 34200.00
Interior
  • 2 Staircases
Levels
  • Two
Net Operating Income
  • 30642.00
Operating Expense
  • 3558.00
Parking Total
  • 16.00
Pool
  • None
Roofing
  • Composition
Sewer
  • Public Sewer
Spa
  • None
StoriesTotal
  • 2
Style
  • Craftsman
Total Actual Rent
  • 2850.00
Total Expenses
  • 8900.00
Uncovered Spaces
  • 8.00
Views
  • Creek/Stream
Water Source
  • Public
Cooling
  • Wall/Window Unit(s)
  • Electric
Heating
  • Wall Furnace
  • Natural Gas
Community Features
  • Biking
  • Sidewalks
  • Urban
Fencing
  • Average Condition
  • Wire
  • Wood
Flooring
  • Carpet
  • Vinyl
  • Wood
Tenant Pays
  • Cable TV
  • Electricity
  • Gas
Utilities
  • Electricity Connected
  • Sewer Connected
  • Water Connected