931 W East Avenue, Chico, CA

$3,250,000

Previous Next

0.75

Acres

About 931 W East Avenue

Gravitas Commercial Real Estate is pleased to present the charming 20 unit apartment located at 931 W. East Avenue in Chico. Built in 1980, the subject property is 14,899 square feet and consists of sixteen (16) one-bedroom one bath units of approximately 720 square feet each and four (4) two-bedroom one bath units measuring approximately 845 square feet each. The Compass Point Apartments features an on-site laundry room whose machines are owned by current ownership. Each unit upstairs has a balcony while the downstairs units each have patios providing privacy for tenants. There is ample off-street parking at this quiet complex which benefits from great visibility on W. East Avenue while also being nestled amongst quaint single family residences. In-place income at the property presents a tremendous opportunity for the new owner to move rents to market over time. Current leases represent about an 11.8% loss-to-lease and plenty of opportunity to prune expenses. Pro-forma cap rate is 5.34% with a 12.6 GRM.

Features of 931 W East Avenue

MLS® # 223095692
Price $3,250,000
Acres 0.75
Year Built 1980
Type Residential Income
Sub-Type 5 or More Units
Status Active

Community Information

Address 931 W East Avenue
City Chico
County Butte
State CA
Zip Code 95926

Amenities

Parking Off Street
Has Pool No

Interior

Interior Other
Heating Other
Cooling Other
Fireplace No

Exterior

Lot Description Corner
Foundation Concrete

School Information

Attendance Zone CHICO JUNIOR HIGH SCHOOL, CHICO HIGH SCHOOL, EMMA WILSON ELEMENTARY SCHOOL
District Butte
Elementary Chico Unified
Middle Chico Unified
High Chico Unified

Additional Information

Zoning R4

Listing Details

OfficeGravitas Commercial Real Estate

Listing Map

Listing Schools/Amenities

Request a Showing

Provide a valid email address.
When would you like to view this property?