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2915 Godman Ave - Godman Arbor Commons 0.69 Acres of Residential Land Offered at $649,850 in Chico, CA 95973
INVESTMENT HIGHLIGHTS
- Corner Lot | Income Generating while awaiting City of Chico approval of future proposed development
- Surrounded by R2 Medium Density Multifamily Apartment Complexes | Minutes away from Chico State University
- 3 Homes on 1 APN | 2 Homes are Furnished for Rent-2917, 2919 Godman | One non rentable due July 2023 Fire-2915 Godman
- Infill Development | Less than 5 acres | * May not require Environmental Impact study per City of Chico | Buyer to Verify
EXECUTIVE SUMMARY
2915, 2917, 2919 Godman Ave, known as Godman Arbor Commons, in Chico Ca represents a truly exceptional and strategic opportunity for the discerning investor or 1031 exchanger. This property uniquely combines a rare, R2-zoned | Min 6 units -14 units Max per Acre | .69 acres | with significant medium-density development potential, immediate income-generating | former AirBNB ; rentals with existing homes ( per Seller ) comprising of 3 br | 1 ba Bonus Room= 1140 sf and 2 br | 1 ba | Shop=1000 sf capacity from high-demand rental markets, and a prime location within Chico's thriving real estate landscape. Despite its current fixer upper status | ie recent fire | July 2023 | on one of the homes 2915 Godman | 5br | 2ba | 2500 sf | it offers a unique canvas for substantial value creation, promising both robust cash flow on the EXISTING income generating homes- 3 br | 1ba Bonus Room & 2 br | 1 ba - and significant long-term capital appreciation for those ready to seize this AMAZING OPPORTUNITY. Further, the subject property is located in the Infill Development | less than 5 acres | which may NOT require an Environmental Impact Study per City of Chico. Currently on Septic yet accessible to city public sewer
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL | ANNUAL PER AC |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
PROPERTY FACTS
1 LOT AVAILABLE
Lot
| Price | $649,850 | Lot Size | 0.69 AC |
| Price Per AC | $941,811.59 |
| Price | $649,850 |
| Price Per AC | $941,811.59 |
| Lot Size | 0.69 AC |
Corner Lot | .69 Acres surrounded by Medium Density Apartment complexes | R2 Zoned per City of Chico. *3 homes on 1 APN : 2915 Godman | 2917 Godman | 2919 Godman Ave 2915 Godman Ave | 5 br 2 ba | 2500 sf sustained a fire July 2023 | Non rentable
PROPERTY TAXES
| Parcel Number | 007-220-012-000 | Total Assessment | $275,146 |
| Land Assessment | $92,923 | Annual Taxes | ($1) |
| Improvements Assessment | $182,223 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
007-220-012-000
Land Assessment
$92,923
Improvements Assessment
$182,223
Total Assessment
$275,146
Annual Taxes
($1)
Tax Year
2025
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2915 Godman Ave - Godman Arbor Commons
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