Active
931 W East Avenue
Chico CA, 95926
$3,250,000
Active
Multi-family
Built in 1980
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.
223095692
MLSⓇ ID
May 9, 2024
Updated
Map
931 W East Avenue
Chico CA, 95926
Interior Features
Total Stories
2
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.75 Acres
Lot Features
Corner Lot
School Information
School District
Chico Unified
Other Property Details
Area Name
12544
Garage
No
View
No
County
Butte
Pool
No
Zoning
R4
Buyer Agency Compensation
2%
Courtesy of Gravitas Commercial Real Estate, Marc Guillon,
Listing Contact:
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