2051 Forest Avenue

Chico, CA 95928

$1,600,000
Price
28
Beds
784
Baths
13,800 Sq. Ft.
$116 / Sq. Ft.
13,800
Sq. Ft.
$116
per Sq. Ft.

Description

Exceptional multi-family opportunity. Directly across from Walmart on Forest Ave. This 5 building 31 unit office complex can easily be converted to a 28 unit with clubhouse/office multi family complex. Entitlement level architectural floor plans and elevations have been completed. The office unit floor plans facilitate easy conversion to 1 bedroom units. Office Mixed Use/Office Commercial Land Use/Zoning are consistent and allow multi family and emergency housing by plot plan approval. Sixty parking...Exceptional multi-family opportunity. Directly across from Walmart on Forest Ave. This 5 building 31 unit office complex can easily be converted to a 28 unit with clubhouse/office multi family complex. Entitlement level architectural floor plans and elevations have been completed. The office unit floor plans facilitate easy conversion to 1 bedroom units. Office Mixed Use/Office Commercial Land Use/Zoning are consistent and allow multi family and emergency housing by plot plan approval. Sixty parking spaces would give 2.14/1 parking ratio. As infill the project would be CEQA exempt. Potential GRM 9/10 would be 3.6m to 4.0m. L/o broker owned
  1. Listed by James Bach • DRE #01938962 • Brokerage DRE #01460643 • Paradise Corner Realty • 951-599-5567

Property Details for 2051 Forest Avenue

Parking Spaces Total
60
Private Pool
No
Total Units
28.0
Building Type
Attached
Lot Size Source
Public Records
Lot Size Dimensions
Irr
Living Area
13800
Assessor Parcel Number
002370059000
LISTING UPDATED: 12/14/2024 03:38 AM

Property Details for 2051 Forest Avenue

StatusActive
MLS #SW24249447
Days on Compass4
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income
Year Built1992
Lot Size1.63 AC / 71,177 SF
CountyButte County

Building Information for 2051 Forest Avenue

Stories2Residences-Year Built1992Building Size-Lot Size1.63 AC / 71,177 SF

Property Information for 2051 Forest Avenue

Rental Info
Rental Info
  • Tenant Pays: All Utilities
Income / Expense / Tax Details
Income Details
  • Gross Income: $403,200
  • Gross Scheduled Income: $403,200
  • Vacancy Allowance: 20000
  • Vacancy Allowance Rate: 5
  • Gross Operating Income: $383,200
  • Net Operating Income: $249,200
  • Current Financing: None
Expense Details
  • Operating Expense: $134,000
  • Operating Expense Percent: 35.00%
  • Fuel Expense: $0
  • Insurance Expense: $0
  • Professional Management Expense: $40,000
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $40,000
Tax / Assessment Info
  • Tax Block: 132
  • Tax Lot: 1-4
Community / Development
Community / Development
  • Community Features: Biking, BLM/National Forest, Dog Park, Golf, Hiking, Horse Trails, Park, Mountainous, Preserve/Public Land, Rural, Street Lights
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
Exterior Features
  • Entry Location: Parking lot
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Additional Parcels Description: 060,061,062
  • Lot Features: 16-20 Units/Acre, Lot Over 40000 Sqft, Rectangular Lot, Sprinkler System
  • Number Of Units: 28
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: Yes
  • Uncovered Spaces: 60
  • Open Other Spaces Total: 60
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
  • Parking Features: Asphalt, Paved
Unit Information
Unit 1
  • Unit Type Units Total: 28
  • Unit Type Beds Total: 28
  • Unit Type Baths Total: 28
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,200
  • Unit Type Total Rent: $33,600
  • Unit Type Pro Forma: 33600
  • Unit Type Type: 1
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 5
  • Number Of Separate Electric Meters: 28
  • Number Of Separate Gas Meters: 0
  • Number Of Separate Water Meters: 0

Property History for 2051 Forest Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 2051 Forest Avenue

Taxable ValueLand$115,000Additions$155,000Total$270,000
Tax Record2024$3,051 ($254 / month)
Home Facts
Baths2Total Finished SqFt1,550 SqFtAbove Grade Finished SqFt1,550 SqFtLot Size12,632 SqFtStyleOffice BuildingYear Built1994CountyBUTTEAPN002-370-060-000

Schools near 2051 Forest Avenue

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 - K to 8
Rating
School
Distance
Little Chico Creek Elementary School
PublicK to 5

Marsh (Harry M.) Junior High School
Public6 to 8

Chico High School
Public9 to 12

Sherwood Montessori School
CharterK to 8

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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2051 Forest Avenue is a mixed use property for sale in Chico, CA 95928. This property was listed for sale on December 13, 2024 by Paradise Corner Realty, it's currently listed at $1,600,000. It has been on the market for a total of 4 days and was last sold on September 21, 1994. This listing's school district is Chico Unified School District. Nearby schools include Little Chico Creek Elementary School, Marsh (Harry M.) Junior High School and Chico High School. 2051 Forest Avenue is a 28-bed, 784-bath, 13,800 sqft mixed use property built in 1992.

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. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Paradise Corner Realty, James Bach, DRE #01938962

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.