2615 Forest Avenue

    Chico, CA 95928
    • $637,000
    • STATUS: Active
    • ON SITE: 21 days
    • ID#: SN20050110
    UPDATED: 26 min ago
    $637,000
    • 0
      BEDS
    • 0.23
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,500
      SQFT
    • $182
      $/SQFT
    Type:
    Commercial
    Built:
    2003
    County:

    School Ratings & Info

    Description

    100% occupied and very well maintained small office building with seven separate suites. Located in south Chico on Forest Avenue, this building is situated in the Forest Avenue Office Complex and has a very solid rental history with very little total vacancy since it was constructed. The building consists of six small suites ranging in size from approximately 300 square feet to 600 square feet with a shared common area and bathrooms, and one larger suite of 1,000 square feet with a private entrance and bathroom. The small-suite configuration lends itself to minimizing vacancy and a fast lease-up with any vacancies. The building has been professionally managed since 2014 and has a great existing tenant mix with several long term tenants. The six small suites all share one electric and one gas meter and all tenants pay a monthly utility fee on top of their base rent, the larger suite is separately metered and paid directly by the tenant. Tenants include mortgage, insurance, attorneys, aesthetician and others. Monthly POA fee includes waste, landscape, irrigation, parking lot cleaning, and private security.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-03-28T11:29:45.383. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Crudo & Associates | Willis Allen Real EstateLa Jolla. Licensed in the State of California, USA.

    www.sdluxe.com/homes/103917381

    2615 Forest Avenue Chico, CA 95928

    • Price: $637,000
    • Status: Active
    • Updated: 26 min ago
    • ID#: SN20050110
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.23
    Acres
    3,500
    SQFT
    $182
    $/SQFT
    2003
    Built
    County:
    Butte
    Property Description
    100% occupied and very well maintained small office building with seven separate suites. Located in south Chico on Forest Avenue, this building is situated in the Forest Avenue Office Complex and has a very solid rental history with very little total vacancy since it was constructed. The building consists of six small suites ranging in size from approximately 300 square feet to 600 square feet with a shared common area and bathrooms, and one larger suite of 1,000 square feet with a private entrance and bathroom. The small-suite configuration lends itself to minimizing vacancy and a fast lease-up with any vacancies. The building has been professionally managed since 2014 and has a great existing tenant mix with several long term tenants. The six small suites all share one electric and one gas meter and all tenants pay a monthly utility fee on top of their base rent, the larger suite is separately metered and paid directly by the tenant. Tenants include mortgage, insurance, attorneys, aesthetician and others. Monthly POA fee includes waste, landscape, irrigation, parking lot cleaning, and private security.
    Exterior Features

    Lot Features Near Public Transit Lot Size Source Assessor Lot Size Units Square Feet

    Interior Features

    Condo Area Units Square Feet Laundry Features None Office Class B

    Property Features

    Accounting Type Actual Additional Parcels YN No Asset Class Office Building Area Units Square Feet Building Status Existing Cap Rate 5.50 Country Us Effective Gross 58332 Expense Year 2019 Gross Scheduled Income 52776.00 Investment Property YN Yes Land Use Office Laundry YN No Leasable Area Units Square Feet Max Total Area Units Square Feet Min Total Area Units Square Feet Net Operating Income 35032.00 Number Of Units Leased 7 Operating Expense 23300.00 Other Income1 5556.00 Property Sub Type Office Special Listing Conditions Standard Water Source Public Year Built Source Assessor

    Listing provided courtesy of Brandon Harris of Harris Commercial Real Estate


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-03-28T11:29:45.383. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Crudo & Associates | Willis Allen Real EstateLa Jolla. Licensed in the State of California, USA.

     
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    La Jolla CA, 92037