Duplex Near
For Sale
$899,000
Pending
824 W 1st Street, Chico, CA 95928
Two homes share one lot with alley-access parking and leases extending through 2027.
Property Size3,500 SF
Days on Market59
Property Features for 824 W 1st Street
General Information
Standard status
Pending
Size
3,500 SF
Property subtype
Duplex
Financials
Gross Income
$84,000
Average Monthly Rent
$3,500
Additional Details
Multifamily Units
2
Building Details
Building Size
3,500 SF
Year Built
1905
Buildings
2
Listing Agency:
Century 21 Select Real Estate, Inc.
Listed By:
John Wallace · License #01110326
(530) 345-6618
Source:
Homesbyupside
Added: Aug 19
Changed: Oct 13
Last Checked: Oct 15 at 6:01AM
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 Century 21 Select Real Estate, Inc.
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Investment Insights
Based on property information with market context.
This duplex includes two homes situated on one lot, with Unit A and Unit B currently rented through 2027. The residences were constructed in 1905 and 1976, providing distinct building vintages within the same property. Additional parking is available through alley access.
The property is located one block from CSUC Chico, placing both residences within immediate proximity of the campus. Its location and existing rental occupancy provide a straightforward multifamily configuration for an investor seeking a two-home property near a university campus.
The property is located one block from CSUC Chico, placing both residences within immediate proximity of the campus. Its location and existing rental occupancy provide a straightforward multifamily configuration for an investor seeking a two-home property near a university campus.
Key Highlights
- Two homes on one lot
- Units rented through 2027
- Construction dates of 1905 and 1976
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,450
Cap Rate
4.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$889,000
$889.0K
Cap Rate 7%
$635,000
$635.0K
Cap Rate 9%
$493,889
$493.9K
Market Conditions
NOI Build-Up for 3,500 SF
Gross rent
$65.9K $18.84/SF
− Vacancy
−$2.4K −$0.70/SF
EGI
$63.5K $18.14/SF
− OpEx
−$19.1K −$5.44/SF
NOI
$44.5K $12.70/SF
Area
Chico, CA
Vacancy
3.70%
Lease Rate
$18.84 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$889,000
Cap Rate 7%
$635,000
Cap Rate 9%
$493,889
Alternative Uses
Best Use
Multifamily LT 5
$635.0K
$555.6K – $740.8K
NOI $44,450 @ 7.0% cap · market cap 4.94%
Second Best
Apartment 5plus
$577.2K
$505.0K – $673.4K
NOI $40,402 @ 7.0% cap · market cap 4.49%
Theoretical Best
Office A
$706.7K
$618.3K – $824.5K
NOI $49,467 @ 7.0% cap · market cap 5.50%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,501
Businesses Nearby
Explore this area
Business Placement
Demographics for 95928, CA
38,378
Population
17,455
Households
2.2
Avg Household Size
35
Median Age
41%
College-Educated
90%
High-School Grad
145.4 sq mi
ZIP Area
264
Density / Sq Mi
$65,350
Median Household Income
$32,615
Median Earnings
$1,419
Median Rent
$476,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two homes share one lot with alley-access parking and leases extending through 2027.
Where is this duplex located?
The property is located at 824 W 1st Street Chico, CA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Two homes on one lot; Units rented through 2027; Construction dates of 1905 and 1976
