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Chico, CA 95926 618 Rancheria Drive

$599,000

Pending
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Presented By: Spencer Moyer with Alive Commercial Real Estate; 8589224181
  • MLS# SN24103591
  • 05/22/2024
  • Request Tour
  • Request Info
  • BedBeds • 8
  • BathBaths • 4
  • FootageSQFT • 3,016

Home Details

Welcome to 618 Rancheria Drive, an enticing 4-unit multifamily opportunity nestled in the heart of Chico, CA. This property features four-units, each boasting two bedrooms and one bathroom, spanning roughly 765 square feet, with current average rents of $1,175. This unit mix offers a fresh perspective for new investors, as it diverges from the typical three and four-bedroom layouts commonly found in the area. Positioned just 0.2 miles from the University and a mere 0.8 miles from Chico High School, this property appeals to a diverse range of renters, including both students and non-students alike. This prime investment opportunity is offered at an attractive basis of $149,750/unit, yielding a strong day-one CAP rate of 6.11%.
Presented By: Spencer Moyer with Alive Commercial Real Estate; 8589224181

Interior Features for 618 Rancheria Drive

Other Interior Features

Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsItem1CommonWall
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesNone
Total Stories2

Other Rooms

Entry Level1

General for 618 Rancheria Drive

Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate6.11
Carport Y/NNo
CityChico
Community FeaturesBiking, StreetLights, Sidewalks
ContingencyInspections
CountyButte
Days on Market3
DirectionsFrom the University: North on Warner Street, Left on W Sacramento Ave, Right on Mechoopda, Left on Rancheria
Electric Expense613.0
Entry LocationFront
Fuel Expense0.0
Garage Spaces0.0
Garage Y/NNo
Gross Income54708.0
HOA0.0
HOA / Comm AssnNo
Home Warranty Y/NNo
Insurance Expense2786.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, Conventional
Lot Size Square Feet8276.0
Lot Size UnitsSquareFeet
MaintenanceExpense3000.0
MobileHomeRemainsYNNo
Net Operating Income36585.0
New ConstructionNo
NumberOfUnitsTotal4
Operating Expense18123.0
Pool FeaturesNone
Private PoolNo
Property Attached Y/NYes
Property Sub Type AdditionalQuadruplex
Property SubTypeQuadruplex
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusPending
StatusPending
Stories2
Street NameRancheria
Tax Annual Amount6659.0
Tax Lot25
Tenant PaysElectricity, Gas
Trash Expense2098.0
View Y/NNo
Water Sewer Expense2167.0
Waterfront Y/NNo
Year Built1965
Year Built SourcePublicRecords
ZoningR3

Exterior for 618 Rancheria Drive

Building Area Total3016.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesItem1620UnitsAcre
Lot Size Acres0.19
Lot Size Area8276.0
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters4
Number of Separate Gas Meters4
Number of Separate Water Meters1
Open Parking Y/NNo
SpaNo
Street SuffixDrive
Total Parking0.0
Water SourcePublic

Additional Details

Price History

1527188455

First Team Client Services

Price $599,000
MLS#SN24103591
List Date 05/22/2024
Property Type Pending
Phone 714.964.3311
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Request Info
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*According to the National Association of Realtors