6-Unit Apartment
For Sale
$800,000
193 E 1st Avenue, Chico, CA 95926
Off-street parking and on-site laundry add practical convenience for residents.
Property Size5,244 SF
Days on Market98
Property Features for 193 E 1st Avenue
General Information
Standard status
Active
Size
5,244 SF
Property subtype
Apartment
Additional Details
Multifamily Units
6
Amenities
off street parking
onsite laundry
Building Details
Building Size
5,244 SF
Year Built
1968
Listing Agency:
Commercial Brokers of California
Listed By:
Shawn Smith · License #01821530
(530) 308-7162
Source:
Homesbyupside
Added: Jul 1
Changed: Oct 6
Last Checked: Oct 5 at 11:00PM
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 Commercial Brokers of California
Investment Insights
Based on property information with market context.
This 6-unit apartment property at 193 E 1st Ave includes off-street parking and on-site laundry facilities. The grounds are described as low maintenance, supporting straightforward day-to-day upkeep.
The property is positioned near downtown and Chico State University in Chico, California.
The property is positioned near downtown and Chico State University in Chico, California.
Key Highlights
- 6‑unit apartment property
- Off‑street parking
- On‑site laundry facilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,534
Cap Rate
7.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,210,680
$1.2M
Cap Rate 7%
$864,771
$864.8K
Cap Rate 9%
$672,600
$672.6K
Market Conditions
NOI Build-Up for 5,244 SF
Gross rent
$114.5K $21.84/SF
− Vacancy
−$4.5K −$0.85/SF
EGI
$110.1K $20.99/SF
− OpEx
−$49.5K −$9.44/SF
NOI
$60.5K $11.54/SF
Area
Chico, CA
Vacancy
3.90%
Lease Rate
$21.84 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,210,680
Cap Rate 7%
$864,771
Cap Rate 9%
$672,600
Alternative Uses
Best Use
Apartment 5plus
$864.8K
$756.7K – $1.01M
NOI $60,534 @ 7.0% cap · market cap 7.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.06M
$926.5K – $1.24M
NOI $74,116 @ 7.0% cap · market cap 9.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,997
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Off-street parking and on-site laundry add practical convenience for residents.
Where is this apartment building located?
The property is located at 193 E 1st Avenue Chico, CA.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 6‑unit apartment property; Off‑street parking; On‑site laundry facilities
