825 Rio Chico Way Chico, CA 95928

$500,000 Closed

About the Property

Please Note: This property has been SOLD

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 $202
Lot Size 0.17 Acres
Year Built 1905
Property Type Residential Income
Zoning R3
Listing Number SN20096149
Listed 5/18/2020
Modified 6/8/2020
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
  • Water Heater
Construction Materials
  • Wood Siding
  • Standard
  • Living Room
Garage Spaces
  • 8.00
Gross Income
  • 34200.00
Gross Operating Income
  • 3642.00
Gross Scheduled Income
  • 34200.00
  • 2 Staircases
  • Two
Net Operating Income
  • 30642.00
Operating Expense
  • 3558.00
Parking Total
  • 16.00
  • None
  • Composition
  • Public Sewer
  • None
  • 2
  • Craftsman
Total Actual Rent
  • 2850.00
Total Expenses
  • 8900.00
Uncovered Spaces
  • 8.00
  • Creek/Stream
Water Source
  • Public
  • Wall/Window Unit(s)
  • Electric
  • Wall Furnace
  • Natural Gas
Community Features
  • Biking
  • Sidewalks
  • Urban
  • Average Condition
  • Wire
  • Wood
  • Carpet
  • Vinyl
  • Wood
Tenant Pays
  • Cable TV
  • Electricity
  • Gas
  • Electricity Connected
  • Sewer Connected
  • Water Connected