618 Rancheria Drive

Chico, CA 95926

$599,000
Price
2
Beds
3,016 Sq. Ft.
$199 / Sq. Ft.
3,016
Sq. Ft.
$199
per Sq. Ft.

Description

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,...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%.
  1. Listed by Spencer Moyer • DRE #01940191 • Brokerage DRE #02126212 • Alive Commercial Real Estate • 8589224181

Property Details for 618 Rancheria Drive

Parking Spaces Total
0
Private Pool
No
Total Units
4.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
3016
Assessor Parcel Number
043180025000
Property Attached YN
true

Location

Listing Courtesy of Alive Commercial Real Estate, Spencer Moyer, DRE #01940191
Add your commute
LISTING UPDATED: 05/27/2024 03:12 AM

Property Details for 618 Rancheria Drive

StatusPending
MLS #SN24103591
Days on Compass3
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1965
Lot Size0.19 AC / 8,276 SF
CountyButte County

Location

Listing Courtesy of Alive Commercial Real Estate, Spencer Moyer, DRE #01940191
Add your commute

Building Information for 618 Rancheria Drive

Stories2Residences-Year Built1965Building Size-Lot Size0.19 AC / 8,276 SF

Payment Calculator

$3,626 per month

30 year fixed, 7.25% Interest

Principal and Interest

$3,269

Property Taxes

$357

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 618 Rancheria Drive

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $54,708
  • Gross Scheduled Income: $56,400
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $54,708
  • Net Operating Income: $36,585
  • Cap Rate: 6.11
Expense Details
  • Operating Expense: $18,123
  • Fuel Expense: $0
  • Electric Expense: $613
  • Insurance Expense: $2,786
  • Maintenance Expense: $3,000
  • Other Expense: $800
  • Other Expense Description: Reserves
  • Trash Expense: $2,098
  • Water Sewer Expense: $2,167
  • Total Expenses: $18,123
Tax / Assessment Info
  • Tax Annual Amount: $6,659
  • Tax Census Tract: 6.04
  • CFD/Mello-Roos Fee: $100
  • Tax Lot: 25
Community / Development
Community / Development
  • Assessments YN: No
  • Assessments: None
  • Community Features: Biking, Sidewalks, Street Lights
Property / Structure Info
Interior Features
  • Laundry: No
  • Laundry Features: None
Exterior Features
  • Entry Location: Front
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: 16-20 Units/Acre
  • Number Of Units: 4
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 0
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,175
  • Unit Type Total Rent: $4,700
  • Unit Type Pro Forma: 5200
  • Unit Type Type: 1
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1

Property History for 618 Rancheria Drive

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 618 Rancheria Drive

Taxable ValueLand$136,536Additions$169,396Total$305,932
Tax Record2023$4,279 ($357 / month)
Home Facts
Baths1Total Finished SqFt3,016 SqFtAbove Grade Finished SqFt3,016 SqFtStories2Lot Size8,276 SqFtStyleQuadraplexYear Built1965ZoningR3CountyBUTTEAPN043-180-025-000

Schools near 618 Rancheria Drive

This home is within Chico Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - 9 to 12
Rating
School
Distance
Citrus Avenue Elementary School
PublicK to 5

Chico Junior High School
Public6 to 8

Chico High School
Public9 to 12

Inspire School of Arts and Sciences
Charter9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Alive Commercial Real Estate, Spencer Moyer, DRE #01940191

Based on information from one of the following Multiple Listing Services: San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.