Price Reduced! | 931-939 W East Ave
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Price Reduced! 931-939 W East Ave
20 Unit Apartment Building $2,695,000 ($134,750/Unit) 7.08% Cap Rate Chico, CA 95926
Investment Highlights
- Defendable Rent Projections.
- 1980’s Construction.
- Well Maintained Property With Attractive Unit Mix of One and Two-Bedroom Floor Plans.
Executive Summary
ALIVE Commercial Real Estate is pleased to exclusively present Compass Point Apartments, a 20-unit multifamily property located in the charming town of Chico, CA. This complex comprises sixteen one-bedroom, one-bathroom units, and four two-bedroom, one-bathroom units, with spacious layouts of 725 and 825 square feet, respectively. With the average single-family home price in Chico exceeding $500,000, making mortgage payments significantly higher than the average rent for one and two-bedroom apartments in the area, tenants at Compass Point enjoy a "homey" atmosphere within this low-density, colonial-style community. The current owner has invested hundreds of thousands of dollars over the past 20 years, resulting in a 'pride of ownership' property with many interior/exterior upgrades throughout. This offers the next investor the opportunity to bring rents to market rates without needing a substantial capital infusion.
Property Facts Under Contract
| Price | $2,695,000 | Building Class | C |
| Price Per Unit | $134,750 | Lot Size | 0.92 AC |
| Sale Type | Investment | Building Size | 14,899 SF |
| Cap Rate | 7.08% | Average Occupancy | 100% |
| No. Units | 20 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1980 |
| Property Subtype | Apartment | Parking Ratio | 2.01/1,000 SF |
| Apartment Style | Low Rise |
| Price | $2,695,000 |
| Price Per Unit | $134,750 |
| Sale Type | Investment |
| Cap Rate | 7.08% |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.92 AC |
| Building Size | 14,899 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1980 |
| Parking Ratio | 2.01/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 16 | - | 720 |
| 2+1 | 4 | - | 845 |
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PROPERTY TAXES
| Parcel Number | 042-070-165-000 | Improvements Assessment | $1,529,820 |
| Land Assessment | $510,000 | Total Assessment | $2,039,820 |
PROPERTY TAXES
Parcel Number
042-070-165-000
Land Assessment
$510,000
Improvements Assessment
$1,529,820
Total Assessment
$2,039,820
zoning
| Zoning Code | R4 |
| R4 |
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Price Reduced! | 931-939 W East Ave
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