$2,795,000 Price Analysis    ♡   Chico, CA 95926 24 bed 20 bath 14,900 SqFt ($187/SqFt) 0.75 acre lot. Built 1980 Listed 2024-06-27, Taxes $22,785 | Ⓧ USDA Ineligible due to price & location near Chico |
Seller Financing Available Compass Point Apartments is a well-mai ntained 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 big layouts of 725 and 825 square feet, respectively. Tenants at Compass Point enjoy a homey atmosphere within this low-density, colonial-style community. The current owner hs invested hundreds of thousands of dollars over the past 20 years, resulting in a 'pride of ownership' property with many interior/exterior upgrades throughout.
Most notably, the Seller is willing to carry back a new first loan and deed of trust with 40% - 50% down at 5.25% interest for 3-5 years, eliminating the high-rate environment objection. This offers the next investor the opportunity to bring rents to market rates and achieve a healthy cash-on-cash return.
Presented by Spencer Moyer at
Alive Commercial Real Estate.
Property MLS #SN24132093 from CRMLS
Lot Size Acres: 0.75
Lot Size Source: Assessor
Lot Size Square Feet: 32670
Bedrooms in Unit-1: 1
Bedrooms in Unit-2: 2
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-2: 1
Maintenance Expense: 15000.00
County: Butte
Other Expense: 4000.00
Source Property Type: Residential Income
Insurance Expense: 10000.00
New Taxes Expense: 31220.00
Number of Separate Electric Meters: 20
Number of Separate Gas Meters: 20
Number of Separate Water Meters: 1
Parcel Number: 042070165000
Pest Control Expense: 1200.00
Postal Code Plus 4: 1308
Professional Management Expense: 11885.00
Trash Expense: 3000.00
Zoning: R4
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2023 | $1,520,820 + $510,000 $2,030,820 | $22,785 |
| 2022 | $1,200,552 + $630,481 $1,831,033 | $20,600 |
| 2021 | $1,177,012 + $618,119 $1,795,131 | $20,214 |
| 2020 | $1,164,944 + $611,781 $1,776,725 | $20,158 |
| 2019 | $1,142,102 + $599,786 $1,741,888 | $19,795 |
| 2018 | $1,010,000 + $520,000 $1,530,000 | $17,428 |
| 2017 | $940,000 + $520,000 $1,460,000 | $16,622 |
| 2016 | $870,000 + $520,000 $1,390,000 | $14,740 |
| 2015 | $830,000 + $520,000 $1,350,000 | $14,537 |
| 2014 | $675,000 + $520,000 $1,195,000 | $12,837 |
| 2013 | $605,000 + $520,000 $1,125,000 | $12,283 |
| 2012 | $605,000 + $520,000 $1,125,000 | $11,802 |
| 2010 | $605,000 + $520,000 $1,125,000 | $12,790 |
| 2009 | $989,341 + $519,566 $1,514,907 | $16,307 |
| 2009 | $680,000 + $520,000 $1,206,000 | $16,307 |
| 2008 | $969,943 + $509,379 $1,485,322 | $15,746 |
| 2007 | $950,925 + $499,392 $1,456,317 | $15,321 |
$2,795,000
CRMLS
Sold 2005-01-14
$1,450,000
Public Record
Year Built: 1980
Building Features: 2
Common Walls: 1 Common Wall
Entry Level: 1
Entry Location: Front
Property Age: 44
Property Attached: Yes
Levels or Stories: Two
Building Total Stories: 2
Structure Type: Commercial/Residential
Year Built Source: Public Records
Sewer: Sewer: Public Sewer, Water Sewer Expense: 8000.00
Water Source: Public
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.