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Sold on 02/27/2025
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2051 Forest Ave, Chico, CA 95928

$1,500,000

Last sold 02/27/2025 after 76 Days

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    bed

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    bath

Multi-family not for sale
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About 2051 Forest Ave

Property type Multi-family
Year built 1992
HOA fee $0/month
Lot size 1.63 Acre
Rental estimate
Property 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 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
Listed by
Listing Agent - James Bach
Listing Agent Contact: 951-599-5567
Listing Office - Paradise Corner Realty
Source: CRMLS mls logo
MLS#SW24249447 • last updated 1 year ago
Movoto checked CRMLS for data 6 minutes ago
Overview
Levels/Style Two
Type Residential Income
SubType Commercial/Residential
Status Pending
Lot Size (Acres) 1.634
Lot Size (SqFt) 71177.04
Year Built 1992
Interior
Laundry Common Area
Exterior
Building Area Square Feet, 13800
Parking Asphalt, Paved
# Uncovered Spaces 60
# Parking Spaces 60
Lot Description 16-20 Units/Acre, Lot Over 40000 Sqft, Rectangular Lot, Sprinkler System
Amenities / Utilities
Sewer/ Septic Public Sewer
Water Source Public
Pool None
Location
County Butte
Community Features Biking, BLM/National Forest, Dog Park, Golf, Hiking, Horse Trails, Park, Mountainous, Preserve/Public Land, Rural, Street Lights
Zoning OC
Directions Forest Ave Across From Walmart, Next To Mechanics Bank
APN 2370059000
Multifamily Details
Tenant Pays All Utilities
Vacancy Allowance Rate 5
Vacancy Allowance 20000
Operating Expense 134000
Total Expenses 40000
Gross Income 403200
Gross Operating Income 383200
Gross Scheduled Income 403200
Rental est.: $662/month
Gross rent multiplier: 188.8
  • Aug 2025
    mls logo MLS # SW24249447
  • Aug 27, 2025 Sold
    $1,500,000
  • Jan 24, 2025 Pending
    —
  • Dec 13, 2024 Listed
    $1,600,000
  • Mar 2025
    Public Records
  • Mar 13, 2025 Sold
    $1,500,000 (-6.3%)
  • Year Property taxes Tax assessment
  • 2024
    $3,051 -5.2%
    $275,400 -2.52%
  • 2023
    $3,218 +1.4%
    $282,508
  • 2022
    $3,173 +2.2%
    $282,508 +4.04%
  • 2021
    $3,104
    $271,539 +1.04%
  • 2020
    $3,105
    $268,755
  • 2051 Forest Ave
    $1.5M
  • —
  • 95928
    $479K +2% y/y
  • Chico
    $489K +3% y/y
No chart available
Statistics calculated by Movoto

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8/10
Chico High School
public Grades 9-12
Chico Unified School District
Source: GreatSchools.org © 2026. All rights reserved.

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CRMLS Multiple Listing Service™ system
The real estate listing data marked with this icon comes from the IDX program of the CRMLS Multiple Listing Service™ system.
Based on information from California Regional Multiple Listing Service, Inc. as of 10/29/2026. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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