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2701 2804 Burnap Avenue

Chico, CA 95973
  • $1,560,000
  • STATUS: Closed
  • ON SITE: 268 Days
  • ID#: SN23195930
Sold - 01/19/2024
$1,560,000
SOLD - 01/19/2024
  • 0
    BEDS
  • 0.98
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Commercial
Built:
1979
County:

School Ratings & Info

Listing Agent(s): Derek Sandgren of Helm Properties (530-329-8336)


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.

Sold by Daisy Finazzo of Discovery Homes.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-07-15T00:27:35.387. 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.
www.nelsonteamrealestate.com/homes/144575593
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2701 2804 Burnap Avenue Chico, CA 95973

  • Price: $1,695,000
  • Status: Closed
  • On Site: 268 Days
  • Updated: 64 min ago
  • ID#: SN23195930
0
Beds
0
Baths
0
½ Baths
0.98
Acres
1979
Built
County:
Butte
Property 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.
Exterior Features

Construction Materials Metal SidingStucco Entry Level 1 Fencing Security Lot Features Corner LotLevel Roof Metal

Interior Features

Cooling None Cooling YN No Heating None Heating YN No

Property Features

Additional Parcels YN No Business Type Storage Buyer Financing Cash Common Interest None Gross Scheduled Income 161792 Land Lease YN No Laundry Features None Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashConventional1031 Exchange Property Sub Type Industrial Security Features Security Lights Special Listing Conditions Standard Utilities Water Not Available Water Source None Zoning R2



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-07-15T00:27:35.387. 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.
 
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The Nelson Team | American Home Realty
10 Via Del Tesoro
San Clemente CA, 92673
Listing Agent(s): Derek Sandgren of Helm Properties (530-329-8336)