1001 Salem Street, Chico, California 95928, Chico, 95928 - 0 bed, 0 bath
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Chico, California 95928
This Well-Maintained Triplex is a Strong Value Opportunity, listed at $499,000, which aligns with its $499,000 Fair Market Value. Featuring a brand-new 30-year roof and two recently remodeled units, the property holds a Good Condition Rating and offers immediate operational stability. Located minutes from Chico State and Historic Downtown, this asset captures high rental demand through its versatile 2-bedroom, 1-bedroom, and studio configuration. It is an exceptional "house hack" for Owner-Occupants looking to offset expenses or Buy-and-Hold Investors seeking a turnkey, cash-flowing asset.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1001 Salem Street Subject | $499,000* List Price | 0 | 0 | 2,032 | $246 | - |
A 1080 Ivy St. Sold | $525,000 | 0 | 0 | 2,103 | $250 | 0.3 mi |
B 831 Rio Chico Sold | $530,000 | 0 | 0 | 1,956 | $271 | 0.8 mi |
C 621 W 6th Street Sold | $460,000 | 0 | 0 | 1,596 | $288 | 0.4 mi |
D 1029 Salem Street Active | $550,000 List Price | 0 | 0 | 2,277 | $242 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is in good condition, benefiting from a brand-new 30-year roof and recent remodels in two of the three units. While the 1981 build date and the unrenovated studio unit prevent an 'excellent' rating, the updated units feature modern flooring and refreshed kitchens, and the overall maintenance level supports immediate occupancy and functional systems.
Situated just minutes from Chico State and Historic Downtown, the property is ideally positioned to capture high rental demand from students and local professionals.
The inclusion of a brand-new 30-year roof on all units and recent remodels in two of the three units significantly reduces immediate maintenance costs for a new owner.
The property is fully occupied by long-term tenants, providing a turnkey investment opportunity with established rental income from day one.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2032, other record living area = 1024.
While two units are recently remodeled, the third unit (studio) has not been updated, which may eventually require additional capital to bring it up to the same market standard.
The property is tenant-occupied and requires showings by appointment only, which can complicate the viewing process and potentially slow down the due diligence period.
Discover a well-maintained, owner-occupied investment property in a desirable Chico location. This 3-unit building offers a comfortable live-in unit plus two turnkey rental units, creating an appealing combination of steady cash flow and personal living convenience. What makes it special: Owner-occupied layout: Live in a well-appointed unit with private entry. Ideally located just minutes from Chico State, Historic Downtown, and local dining and shopping, this tri-plex offers both convenience and long-term rental appeal. The property includes three separate units, a 2-bedroom, 1-bathroom, a 1-bedroom, 1-bathroom, and a studio, each with its own fenced backyard and shaded by mature trees, creating a comfortable and private setting for tenants. Two of the units have been recently remodeled, and all units are currently occupied by long-term tenants, providing immediate, stable income. A brand new 30-year roof across all three units adds long-term value and peace of mind for the next owner. Whether you’re looking to live in one unit while offsetting expenses or expand your portfolio with a well-positioned asset, this property offers a strong combination of location, functionality, and consistent rental demand. Tenant-occupied. Showings by APPOINTMENT ONLY!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 2,032 | 2,067.5 | 50% |
| Lot Size | 7,840.8 | 8,058.4 | 50% |
| Price | $499.0K | $512.0K | 50% |
| Price per sq ft | $246 | $248 | 50% |
| Built year | 1981 | 1965 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 403 | 236 | 83% |
Mar 12, 2026
$499,000
Initial Listing
May 7, 2025
$509,000
Initial Listing
Jun 6, 2014
$310,000
Public Record
Mar 23, 2007
$360,000
Public Record