1001 W Sacramento Avenue Chico, CA 95926

$5,770,000 Closed

About the Property

Please Note: This property has been SOLD

Student Housing Opportunity with further development potential. This asset consists of 34 apartments with an underlying condominium map in place, three houses, and a cottage on four contiguous parcels. Three of the parcels have the potential for adding additional units. The property sits at the corner of Nord Ave. and West Sacramento Ave. at the northwest boundary of California State University, Chico. The neighborhood is served by a Safeway shopping center, many retail and fast food opportunities, and a mix of older apartment communities and new luxury properties mostly serving the student market. Most of the apartments and houses have been renovated in the last three years. The sale includes 1001 W. Sacramento Ave. consisting of 14 two bedroom 1 bath units, and 20 three bedroom 2 bath units; 924 Nord Ave. is a two bedroom one bath house, and one bedroom one bath studio; 932 Nord Ave., formerly a three bedroom one bath house but is now a recording studio; 931 W. Sacramento., Ave which is a three bedroom one bath house.

Property Information

Size 39,198 SqFt
Price/SqFt $147
Lot Size 1.39 Acres
Year Built 1984
Property Type Residential Income
Listing Number SN21079329
Listed 5/3/2021
Modified 5/3/2021
Listing Agent Steve Depa
Listing Office Re/Max of Chico
Total Building 12
Total Units 38

Property Features

# Electric Meters
  • 38
# Gas Meters
  • 38
# Water Meters
  • 6
Community Features
  • Sidewalks
Garage Spaces
  • 0.00
Gross Income
  • 45347.00
Gross Scheduled Income
  • 544164.00
Levels
  • Two
Net Operating Income
  • 361915.00
Operating Expense
  • 182249.00
Pool
  • None
Sewer
  • Public Sewer
StoriesTotal
  • 2
Total Expenses
  • 182249.00
Water Source
  • Public
Cooling
  • Central Air
  • See Remarks
Heating
  • Central
  • See Remarks