Victorian Mixed-Use
For Sale
$525,000
121 W 1st, Chico, CA 95926
Six-zone ductless climate control and fiber connectivity support residential, office, or combined use.
Property Size1,946 SF
Days on Market16
Property Features for 121 W 1st
General Information
Standard status
Active
Size
1,946 SF
Property subtype
Mixed Use
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
wraparound porch
soaring ceilings
wainscoting
updated kitchen
renovated bathrooms
finished basement
six-zone mini-split HVAC
fiber connectivity
Building Details
Building Size
1,946 SF
Year Built
1905
Buildings
1
Stories
2
Construction
Victorian
Listing Agency:
Platinum Partners Real Estate
Listed By:
Marisa Bauer · License #01418223
(530) 228-2550
Source:
Homesbyupside
Added: Sep 28
Changed: Oct 10
Last Checked: Oct 11 at 10:40AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Platinum Partners Real Estate
Investment Insights
Based on property information with market context.
Built in 1905, this renovated two-story Victorian has four upstairs bedrooms, a wraparound porch, high ceilings, wainscoting, an updated kitchen, and renovated bathrooms. A finished basement adds flexible space; paint matching and other completion work are underway. The property’s six-zone ductless system is operational, with six independently controlled indoor units served by two multi-zone heat-pump condensers. Fiber connectivity is also in place.
The property is near Chico State, Enloe Hospital, downtown, shopping, restaurants, and freeway access. Potential uses identified for the building include residential occupancy, office use, or a combination of uses.
The property is near Chico State, Enloe Hospital, downtown, shopping, restaurants, and freeway access. Potential uses identified for the building include residential occupancy, office use, or a combination of uses.
Key Highlights
- Six‑zone ductless mini‑split system with six indoor units and two multi‑zone outdoor heat‑pump condensers
- Fiber connectivity for high‑speed internet
- Four bedrooms, all located on the upper floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,951
Cap Rate
4.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$439,020
$439.0K
Cap Rate 7%
$313,586
$313.6K
Cap Rate 9%
$243,900
$243.9K
Market Conditions
NOI Build-Up for 1,946 SF
Gross rent
$37.4K $19.20/SF
− Vacancy
−$2.2K −$1.15/SF
EGI
$35.1K $18.05/SF
− OpEx
−$13.2K −$6.77/SF
NOI
$22.0K $11.28/SF
Area
Chico, CA
Vacancy
6.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$439,020
Cap Rate 7%
$313,586
Cap Rate 9%
$243,900
Alternative Uses
Best Use
Mixed Use
$313.6K
$274.4K – $365.9K
NOI $21,951 @ 7.0% cap · market cap 4.18%
Second Best
Office B
$294.2K
$257.4K – $343.2K
NOI $20,594 @ 7.0% cap · market cap 3.92%
Theoretical Best
Office A
$392.9K
$343.8K – $458.4K
NOI $27,504 @ 7.0% cap · market cap 5.24%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,083
Businesses Nearby
Explore this area
Business Placement
Demographics for 95926, CA
41,259
Population
18,566
Households
2.2
Avg Household Size
31
Median Age
45%
College-Educated
96%
High-School Grad
7.8 sq mi
ZIP Area
5,290
Density / Sq Mi
$62,334
Median Household Income
$27,870
Median Earnings
$1,418
Median Rent
$462,900
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Six-zone ductless climate control and fiber connectivity support residential, office, or combined use.
Where is this mixed-use property located?
The property is located at 121 W 1st Chico, CA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Six‑zone ductless mini‑split system with six indoor units and two multi‑zone outdoor heat‑pump condensers; Fiber connectivity for high‑speed internet; Four bedrooms, all located on the upper floor
