Home for Sale at 2020 Magnolia Avenue, Chico, CA 95926

2020 Magnolia Avenue
Chico, CA 95926

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Property Details

List Price:	$475,000
Beds:	9
Baths:	4
Status:	Pending
SqFt:	3720
Agency:	Keller Williams Realty Chico Area

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Description/Comments

Lot Size:	9,583 sqft
Property Type:	Residential
Year Built:	1983
Notes:	Opportunity is knocking! Unlock the potential of this prime investment opportunity nestled in the sought-after Chico Avenues neighborhood. This property includes a 3-bedroom, 1-bathroom duplex, paired with a single-family 3-bedroom, 2-bathroom home, providing multiple income streams for those looking to expand their investment portfolios. For Buyers looking to live in one unit and rent out the others, this property offers the perfect blend of affordability and passive income potential, or rent them all out for a steady cash flow! While these homes may require some TLC, this presents a unique opportunity for investors to add value with strategic updates and renovations, enhancing the overall value. The duplex, located at 150 W. 10th Avenue, is on a large corner fenced with parking spaces, separate utilities, and a yard providing a great outdoor space for tenants. The single-family home, located at 2020 Magnolia Avenue, on the other side of the fence, offers a fully fenced concrete patio, and utility room providing a laundry area, and additional storage space, this home is currently rented until May 2024. Centrally located just a block from the renowned Esplanade, and a few blocks from Downtown Chico, this property offers easy access to shopping, dining, local amenities, and schools ensuring convenience for both the tenants and residents alike. The desirable Chico Avenues' location and potential for rental income make this property a solid investment for long-term growth. This is your chance to own a versatile investment property in the heart of Chico. Call your favorite agent today, and come explore the endless opportunities that await with this property!
MlsNumber:	SN24062882

Listing Provided By:	Keller Williams Realty Chico Area, original listing
Name:	Keller Williams Realty Chico Area
Phone:	(530) 809-3700
Office Name:	Keller Williams Realty Chico Area
Office Phone:	(530) 809-3700
Agent Name:	Alisha Simpkins
Disclaimer:	Copyright Â© 2024 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest.

The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered.

VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

Free Foreclosure Listings

USHUD.com is a website that simplifies the process of finding foreclosures and HUD properties. Everyone thinks they are a real estate web surfing pro until they search for foreclosure homes and stumble upon a numerous sites that want to charge a fee to see their listings. With USHUD.com that’s not the case. When searching for HUD properties or a home finding website for foreclosure it is important to know what you are looking for. It is important to use a niche company that specializes in foreclosures like USHUD.com. We have put together 2 tools that have made the real estate search process of our website much easier to navigate. The Homesearch online tool is filled with foreclosure lists and free listings of hud homes for sale. Most of our users start with a broad search with the homesearch online tool to see the most HUD properties and foreclosure lists in your area and narrow their search down with the Homefinder online tool. The homefinder online tool is a custom filter system that we breakdown the area based upon filters such as convention and foreclosure listings. This give you the option to filter out conventional listings and focus on just the foreclosures in the market. We thank you for making us Americas top home finding website for foreclosure and Hud properties. Free listings of hud homes for sale are hard to come by but should always be free and that’s the way things are going to stay on our website.

Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale.

This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments.

Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.

USHUD.com is a private company not affiliated or associated with or endorsed, authorized, approved, sponsored
or licensed by the US Department of Housing and Urban Development

USHUD.com is an Equal Housing Opportunity

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