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Coldwell Banker Closes $8M Sale Of Avery Oaks Apartments In Chico For $266K Per Unit

Property Image
SOLD
$8,000,000
Carrie Tatreau
Kelsey Watt

California

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MultiFamily
Sold 01/30/2024
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Property Image
SOLD

Coldwell Banker Closes $8M Sale Of Avery Oaks Apartments In Chico For $266K Per Unit

1991 Humboldt Avenue

See Similar Deals
MultiFamily
Sold 01/30/2024
Carrie Tatreau
Kelsey Watt
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale

Avery Oaks Apartments, a 30-unit multifamily property located at 1991 Humboldt Avenue in Chico, was recently sold for $8 million. The sale was brokered by Carrie Tatreau and Kelsey Watt of Coldwell Banker Commercial C&C Properties. The property achieved a high occupancy rate in just five months and sold at an average price of $266,667 per unit.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $8,000,000
  • Address: 1991 Humboldt Avenue, Chico
  • Market: Chico
  • Seller: Chuck Tatreau Construction Inc.
  • Brokers: Carrie Tatreau & Kelsey Watt - Coldwell Banker Commercial C&C Properties

The successful collaboration between the brokers and local partners, along with a swift lease-up process, played a key role in achieving this exceptional real estate transaction.

Players

Carrie Tatreau
Coldwell Banker
Carrie Tatreau
1 deal$8M volume(530) 570-5107
BROKER
Kelsey Watt
Coldwell Banker
Kelsey Watt
1 deal$8M volume(530) 908-4905
BROKER

Details

SOLD
IMAGE: Carrie Tatreau & Kelsey Watt DATE: 01/30/2024 ADDRESS: 1991 Humboldt Avenue MARKET: Chico ASSET TYPE: Multifamily SELLER: Chuck Tatreau Construction Inc. BROKERS: Carrie Tatreau (@Smiles_4miles_) & Kelsey Watt - Coldwell Banker Commercial C&C Properties SALE PRICE: $8,000,000 UNITS: 30 ~ PPU: $266,667 NOTE: Coldwell Banker Commercial C&C Properties closed the $8-million sale of Avery Oaks Apartments in Chico, a 30-unit complex brokered by Carrie Tatreau and Kelsey Watt, achieving a high occupancy rate in just five months and selling at $266,000 per unit. Tatreau highlighted the successful collaboration with local partners and swift lease-up process as key factors in delivering exceptional real estate solutions.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$426,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$28,422.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,924.08
Annual Debt Service$455,088.98