165 1st Ave Portola, CA 96122
Estimated payment $2,299/month
Highlights
- Mountain View
- Porch
- Landscaped
- Corner Lot
- Bathtub with Shower
- Ceiling Fan
About This Home
Nestled in the heart of Portola, this unique multi-family investment opportunity presents a well-renovated collection of properties with a promising revenue potential. Live in 1 unit and cover your mortgage with other renters or rent out all the units. The property encompasses 3 s houses situated on a single lot, featuring a total of 4 distinct rental units. Designed with investors in mind, this offering promises not just immediate cash flow, but substantial rental income growth. Notably, three out of the four units have undergone interior renovations, combining modern appeal with functional living spaces that tenants are sure to appreciate. The central property at 181 First Ave serves as a duplex, offering two levels of living quarters while enhancing the property's income potential. The remaining units, located at 165 First Ave and 201 Nevada St. Investors will be keen to note the impressive financials that accompany this acquisition. With a current monthly income of $3,850 and a competitive cap rate of 7.4%. The property's strategic positioning in Portola adds to its allure. Residents enjoy the convenience of being within walking distance to the town's local parks, a community pool, and schools.
Property Details
Home Type
- Multi-Family
Year Built
- 1950
Lot Details
- 6,098 Sq Ft Lot
- Partially Fenced Property
- Chain Link Fence
- Landscaped
- Corner Lot
- Level Lot
Home Design
- Slab Foundation
- Composition Roof
- Metal Roof
- Concrete Perimeter Foundation
Interior Spaces
- 2,800 Sq Ft Home
- 2-Story Property
- Ceiling Fan
- Utility Room
- Washer Hookup
- Mountain Views
- Stove
Flooring
- Carpet
- Laminate
Bedrooms and Bathrooms
- Bathtub with Shower
- Shower Only
Outdoor Features
- Porch
Utilities
- Baseboard Heating
- Heating System Uses Propane
- Propane
- Electric Water Heater
- Phone Available
- Satellite Dish
- Cable TV Available
Listing and Financial Details
- Assessor Parcel Number 126-133-018
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 04/11/2025 04/11/25 | For Sale | $349,950 | +30.1% | $125 / Sq Ft |
| 05/10/2019 05/10/19 | Sold | $269,000 | -0.2% | $96 / Sq Ft |
| 03/27/2019 03/27/19 | Pending | -- | -- | -- |
| 06/24/2018 06/24/18 | For Sale | $269,500 | -- | $96 / Sq Ft |
Source: Plumas Association of REALTORS®
MLS Number: 20250355
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