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$ 550,000
Est. payment /mo
Active
432 Nord AVE Chico, CA 95926
0.55 Acres Lot
UPDATED:
12/19/2024 05:50 AM
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
MLS Listing ID SN24200192
HOA Y/N No
Year Built 1938
Lot Size 0.550 Acres
Property Description
Exciting Investment Opportunity Near Chico State! This expansive property, over half an acre in size, is a prime investment located just steps from CSU Chico. Positioned conveniently off Nord Avenue, it offers quick access to local shopping, transportation, and the vibrant energy of Downtown Chico. The property includes a well-maintained 3-bedroom, 1-bath home featuring a welcoming layout with a functional kitchen, spacious laundry room, and thoughtful design. Beyond the existing home, the land holds great potential for further development, making it an ideal rental location due to its proximity to the University. For those seeking to capitalize on its location, two exciting development concepts have been explored: First option: Adding three duplexes, each two stories with 3-bed, 2-bath units, plus a 1-bedroom manager's quarters near the front. This design retains the existing house, resulting in a total of eight rental units. Second option: Replacing the current home with nine three-story units, inspired by a successful previous project, and enhanced with unique Craftsman-style exteriors. Whether you choose to keep the current home or develop it further, this property's unbeatable proximity to the University and local amenities makes it an exceptional investment in Chico.
Location
State CA
County Butte
Interior
Heating Central
Cooling Central Air
Fireplace No
Laundry Laundry Room
Exterior
Pool None
Community Features Sidewalks
Private Pool No
Building
Lot Description 6-10 Units/Acre, Back Yard
Story 1
Entry Level One
Sewer Septic Tank
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 043230031000
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Special Listing Condition Standard
Listed by Steve Depa • Re/Max of Chico • 530-896-9300