Renovated 20-Unit Apartment
For Sale
$2,599,000
931 W East Avenue, Chico, CA 95926
The property offers renovated apartments with one- and two-bedroom floor plans in a low-density community.
Property Size14,899 SF
Price / SF$174.44
Days on Market207
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Property Features for 931 W East Avenue
General Information
Standard status
Active
Size
14,899 SF
Property subtype
Multi-family
Units
Unit Mix
16 x 1BR/1BA, 4 x 2BR/1BA
Multifamily Units
20
Building Details
Year Built
1980
Construction
colonial-style
Listing Agency:
Matthews Real Estate Investment Services
Listed By:
Nabil Awada · License #02046840
(866) 889-0550
Source:
Sevengables
Added: Mar 23
Changed: Oct 15
Last Checked: Oct 14 at 11:11PM
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 Matthews Real Estate Investment Services
Investment Insights
Based on property information with market context.
Compass Point Apartments is a 20-unit multifamily property at 931 W East Avenue in Chico, California. The community was built in 1980 and contains sixteen 1-bedroom/1-bathroom apartments measuring 725 SF, along with four 2-bedroom/1-bathroom apartments measuring 825 SF. Total property size is 14,899 SF.
The buildings have undergone extensive renovation addressing both property systems and appearance. Chico is located in Butte County in the northern Sacramento Valley and is home to California State University, Chico. Additional surrounding context includes Bidwell Park, a 3,600-acre municipal park, and a historic downtown area with boutiques, restaurants, and cultural attractions.
The buildings have undergone extensive renovation addressing both property systems and appearance. Chico is located in Butte County in the northern Sacramento Valley and is home to California State University, Chico. Additional surrounding context includes Bidwell Park, a 3,600-acre municipal park, and a historic downtown area with boutiques, restaurants, and cultural attractions.
Key Highlights
- 20‑unit apartment community at 931 W East Avenue, Chico, CA 95926
- Unit mix includes sixteen 1‑bedroom/1‑bathroom units at 725 SF and four 2‑bedroom/1‑bathroom units at 825 SF
- 14,899 SF property built in 1980
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$171,987
Cap Rate
6.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,439,740
$3.4M
Cap Rate 7%
$2,456,957
$2.5M
Cap Rate 9%
$1,910,967
$1.9M
Market Conditions
NOI Build-Up for 14,899 SF
Gross rent
$325.4K $21.84/SF
− Vacancy
−$12.7K −$0.85/SF
EGI
$312.7K $20.99/SF
− OpEx
−$140.7K −$9.44/SF
NOI
$172.0K $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%
$3,439,740
Cap Rate 7%
$2,456,957
Cap Rate 9%
$1,910,967
Alternative Uses
Best Use
Apartment 5plus
$2.46M
$2.15M – $2.87M
NOI $171,987 @ 7.0% cap · market cap 6.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.01M
$2.63M – $3.51M
NOI $210,575 @ 7.0% cap · market cap 8.10%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
20
Residential units
Location Intelligence
Trade Area within ½ mile
267
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
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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?
Apartment building - The property offers renovated apartments with one- and two-bedroom floor plans in a low-density community.
Where is this apartment building located?
The property is located at 931 W East Avenue Chico, CA.
What is the asking price?
The asking price for this property is $2,599,000.
What are key features of this property?
This property features: 20‑unit apartment community at 931 W East Avenue, Chico, CA 95926; Unit mix includes sixteen 1‑bedroom/1‑bathroom units at 725 SF and four 2‑bedroom/1‑bathroom units at 825 SF; 14,899 SF property built in 1980
