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$550,000
Est. payment /mo
0.7 Acres Lot
UPDATED:
Key Details
Property Type Other Types
Listing Status Active
Purchase Type For Sale
MLS Listing ID SN25055842
HOA Y/N No
Lot Size 0.700 Acres
Property Description
This nearly 1-acre property in the City of Chico presents a prime development opportunity with R3 zoning, allowing for the construction of up to 14 residential units/acre. The flat, rectangular lot offers an ideal foundation for multi-unit housing, catering to the city's growing demand for residential development. Additionally, the existing 776 sq. ft. single-family home, featuring 2 bedrooms, 1 bathroom, and a bonus office or workspace, can generate monthly rental income, providing immediate cash flow while planning future development. There is plenty of room to build an ADU behind the existing house and still build a 12 plex as shown in the preliminary design rendering to further maximize this spacious property.
Whether for a developer looking to build multi-family housing or an investor seeking rental income from the existing house, plus a new ADU and with long-term appreciation, this property is a rare opportunity in a desirable location and market. See additional Residential MLS listing SN25055911
Whether for a developer looking to build multi-family housing or an investor seeking rental income from the existing house, plus a new ADU and with long-term appreciation, this property is a rare opportunity in a desirable location and market. See additional Residential MLS listing SN25055911
Location
State CA
County Butte
Zoning R3
Interior
Inclusions Refrigerator and Stove
Fireplace No
Exterior
Community Features Curbs, Gutter(s), Storm Drain(s)
Utilities Available Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Available, Water Connected
View Y/N Yes
View Neighborhood
Present Use Residential
Building
Lot Description 0-1 Unit/Acre
Sewer Septic Tank
Water Well
New Construction No
Others
Senior Community No
Tax ID 002050021000
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Special Listing Condition Standard
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Listed by Nicole Carter • Century 21 Select Real Estate, Inc. • 5309661296
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