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765 Humboldt Ave 6 Unit Apartment Building $965,000 ($160,833/Unit) 6.35% Cap Rate Chico, CA 95928
Investment Highlights
- Turn-Key Property With Significant Interior/Exterior Improvements Over the Last Four Years
- Walking Distance to Downtown Chico
- 6.35% Current CAP Rate
- Low Maintenance Layout, Creating Operational Efficiencies
Executive Summary
ALIVE Commercial Real Estate is pleased to exclusively present 765 Humboldt Avenue, a 6-unit multifamily community located in Chico, California. The property consists of (5) one-bedroom, one-bathroom units and (1) two-bedroom, one-bathroom unit—an attractive mix in a submarket largely saturated with larger two-, three-, and four-bedroom floor plans. Over the past four years, the property has undergone significant upgrades, including a full siding replacement, exterior paint, foundation upgrades and an interior renovation program completed on all 6 units. With a substantial portion of the heavy lifting already completed, a new owner is well-positioned to acquire a turn-key, fully occupied property with strong cash flow.
Property Facts
| Price | $965,000 | Building Class | C |
| Price Per Unit | $160,833 | Lot Size | 0.23 AC |
| Sale Type | Investment | Building Size | 2,615 SF |
| Cap Rate | 6.35% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1885/2023 |
| Property Subtype | Apartment | Parking Ratio | 3.06/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | R3 | ||
| Price | $965,000 |
| Price Per Unit | $160,833 |
| Sale Type | Investment |
| Cap Rate | 6.35% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 2,615 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1885/2023 |
| Parking Ratio | 3.06/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R3 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Refrigerator
- Yard
- Vinyl Flooring
Site Amenities
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | - | 450 |
| 2+1 | 1 | - | 600 |
1 1
Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 004-450-009-000 | Improvements Assessment | $464,000 |
| Land Assessment | $183,600 | Total Assessment | $647,600 |
Property Taxes
Parcel Number
004-450-009-000
Land Assessment
$183,600
Improvements Assessment
$464,000
Total Assessment
$647,600
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765 Humboldt Ave
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