1029 Salem Street, Chico, California 95928, Chico, 95928 - 0 bed, 0 bath
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Chico, California 95928
This Residential Income Asset is listed at $550,000, offering exceptional stability at its $550,000 Fair Market Value. Featuring a Fair Condition Rating, this 1930s quadruplex presents a clear value-add path by modernizing dated interiors and completing HVAC upgrades across all units. The property benefits from Substantial Off-Street Parking and a prime location near Chico State and Enloe Hospital, driving high rental demand. With historic architectural appeal and a detached laundry structure, this is a strategic acquisition for Buy-and-Hold Investors or Portfolio Builders looking for a stable, income-generating project.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1029 Salem Street Subject | $550,000* List Price | 0 | 0 | 2,277 | $242 | - |
A 831 Rio Chico Sold | $530,000 | 0 | 0 | 1,956 | $271 | 0.8 mi |
B 621 W 6th Street Sold | $460,000 | 0 | 0 | 1,596 | $288 | 0.4 mi |
C 1001 Salem Street Active | $499,000 List Price | 0 | 0 | 2,032 | $246 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1930, this quadruplex is well-maintained but shows significant signs of age consistent with the 'fair' category. While it features charming historic elements like wainscoting and freestanding tubs, the kitchens and bathrooms are dated with older cabinetry and appliances. Only two of the four units have been updated with modern mini-split HVAC systems, and the property has not undergone a comprehensive recent renovation, suggesting that major systems and finishes are nearing the end of their functional lifespan.
Situated within walking distance to Downtown Chico, Chico State, and Enloe Hospital, this property is ideally positioned to capture high rental demand from students and professionals.
The 1930s construction offers unique character with high ceilings, wood-paneled doors, and wainscoting, providing a charming aesthetic that stands out in the rental market.
Unlike many downtown properties, this quadruplex features ample off-street parking, a premium amenity that significantly increases tenant satisfaction and property value.
Only two of the four units have been updated with modern mini-split systems, which may lead to uneven utility costs and the need for future capital improvements in the remaining units.
Built in 1930, the property likely requires more frequent maintenance and potential upgrades to aging systems such as plumbing and electrical to meet modern standards.
Charming Quadruplex Investment Opportunity in Downtown Chico! This unique and character-filled property offers four 1-bedroom, 1-bathroom units—each with its own distinct charm. Two units are located on the lower level, and two more are upstairs, accessible via a wide staircase that leads to a welcoming porch area perfect for relaxing. Inside the units feature high ceilings, wood-paneled doors, wainscoting, freestanding tubs, and beautifully cased wood windows. The kitchens and living areas are surprisingly spacious, making these units highly desirable. Two of the units have been updated with efficient mini-split systems for modern comfort. Additional highlights include plenty of off-street parking, a detached structure at the back that provides storage space and a laundry setup for Unit #3. Situated near Downtown Chico, Chico State, Enloe Hospital, and Bidwell Park—this is an incredible investment opportunity with prime location appeal!
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 | 2,277 | 2,103 | 67% |
| Lot Size | 7,841 | 8,276 | 44% |
| Price | $550.0K | $525.0K | 78% |
| Price per sq ft | $242 | $242 | 50% |
| Built year | 1930 | 1948 | 33% |
| HOA | $0 | $0 | 50% |
| Days on market | 308 | 255 | 78% |
Jun 19, 2025
$550,000
Initial Listing
Dec 4, 2015
$290,000
Public Record