Description
Excellent investment opportunity to own a Self Storage property in Chico. Georges Mini Storage is comprised of two locations, totaling 118 units. Located at the busy intersection of E. Lassen Ave and Burnap Ave, these properties offer an ideal location for high visibility and opportunity to service the surrounding multifamily occupants. The Seller just completed recent exterior improvements including new exterior paint, underground site drains, rod iron fencing, access gates, ballards and slurry seal. The property is in excellent condition and requires very low maintenance. Rents are currently below market value. The new owner can capitalize on recent property improvements to increase rents to market value and increase occupancy to quickly achieve an +/- 8% CAP. This is an excellent investment for someone looking to start out in self-storage, or a seasoned operator looking to add to their portfolio.
School Ratings & Info
Description
Excellent investment opportunity to own a Self Storage property in Chico. Georges Mini Storage is comprised of two locations, totaling 118 units. Located at the busy intersection of E. Lassen Ave and Burnap Ave, these properties offer an ideal location for high visibility and opportunity to service the surrounding multifamily occupants. The Seller just completed recent exterior improvements including new exterior paint, underground site drains, rod iron fencing, access gates, ballards and slurry seal. The property is in excellent condition and requires very low maintenance. Rents are currently below market value. The new owner can capitalize on recent property improvements to increase rents to market value and increase occupancy to quickly achieve an +/- 8% CAP. This is an excellent investment for someone looking to start out in self-storage, or a seasoned operator looking to add to their portfolio.
Based on information from California Regional Multiple Listing Service, Inc. as of 2023-12-08T10:31:29.03. 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 deemed reliable but is not guaranteed accurate by the MLS or The Nelson Team | American Home Realty. Licensed in the State of California, USA.