Chico CA Rare Investment | Development R2 Zoned | 3 Homes 1 APN
2915 Godman Ave,Chico, CA 95973
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$649,850
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info
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dwelling #1: 3 br, 1 ba dwelling #2: 2 br, 1 ba 2915 Godman: 5br, 2ba, 2500 sf
MLS 632480 | Brokered by Real Brokerage
MLS 632480
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$649,850
dwelling #1: 3 br, 1 ba dwelling #2: 2 br, 1 ba 2915 Godman: 5br, 2ba, 2500 sf
2915, 2917, 2919 Godman Ave, known as Godman Arbor Commons, in Chico CA represents a truly exceptional and strategic property for the discerning investor or 1031 exchanger. This property uniquely combines a rare, R2-zoned | Min 6 units - 14 units Max per Acre 69 acres | with significant medium-density development potential, immediate income-generating | former AirBNB ; rentals with existing homes ( per Seller ) comprising of 3 br | 1 ba Bonus Room= 1140 sf and 2 br | 1 ba | Shop=1000 sf capacity from high-demand rental markets, and a prime location within Chico’s thriving real estate landscape. Despite its current fixer upper status | ie recent fire | July 2023 | on one of the homes at 2915 Godman | 5br | 2ba | 2500 sf | it offers a unique canvas for substantial value creation, promising both robust cash flow on the EXISTING income generating homes - 3 br | 1ba Bonus Room & 2 br | 1 ba - and significant long-term capital appreciation for those ready to seize this AMAZING potential. Further, the subject property is located in the Infill Development | less than 5 acres | which may NOT require an Environmental Impact Study per City of Chico.
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