$1,560,000
$1,695,000
8.0%For more information regarding the value of a property, please contact us for a free consultation.
0.98 Acres Lot
SOLD DATE : 01/19/2024
Key Details
Sold Price $1,560,000
Property Type Commercial
Sub Type Industrial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SN23195930
Sold Date 01/19/24
HOA Y/N No
Year Built 1979
Lot Size 0.980 Acres
Property Description
Excellent investment opportunity to own a Self Storage property in Chico. George’s 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.
Location
State CA
County Butte
Zoning R2
Interior
Heating None
Cooling None
Fireplace No
Laundry None
Exterior
Fence Security
Utilities Available Water Not Available
Roof Type Metal
Building
Lot Description Corner Lot, Level
Story 1
Water None
Others
Tax ID 007570032000
Security Features Security Lights
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Financing Cash
Special Listing Condition Standard
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Bought with Daisy Finazzo • Discovery Homes
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
880 Roosevelt Suite 250, Irvine, California, 92620, United States