1202 Palm, Chico, California 95926, Chico, 95926 - 0 bed, 0 bath
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Chico, California 95926
This Turnkey Residential Income Duplex is listed at $559,000, representing a stable acquisition positioned exactly at its $559,000 Fair Market Value. The property features two modernized residences, including a permitted 2023-Built Second Unit and a main house updated with Granite Countertops and dual-pane windows, earning a Turnkey Condition Rating. Uniquely, the asset includes a Leased Parking Lot portion, providing a rare third stream of passive income. Located in the high-demand Avenues neighborhood, this versatile property is perfectly suited for Owner-Occupants looking to house-hack or Buy-and-Hold Investors seeking a low-maintenance, multi-unit asset.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1202 Palm Subject | $549,000* List Price | 0 | 0 | 2,440 | $225 | - |
A 1170 Hobart Street Active | $495,000 List Price | 0 | 0 | 2,000 | $248 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
The property is in turnkey condition, featuring a brand-new second unit completed in 2023 with modern finishes, recessed lighting, and ductless mini-splits. The main house has been extensively updated with granite countertops, laminate flooring, and dual-pane windows, meeting current quality standards with no deferred maintenance.
The property features two separate, turnkey homes on a single lot, providing excellent versatility for owner-occupants looking to house-hack or investors seeking high-yield rental income in the desirable Avenues neighborhood.
With Unit B newly permitted and completed in 2023 and Unit A featuring contemporary updates like granite countertops and dual-pane windows, the property is move-in ready with minimal immediate capital expenditure required.
The sale uniquely includes a portion of a parking lot currently leased to a nearby business, offering a rare third source of passive income that enhances the overall investment return.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2440, other record living area = 816.
The primary entrance for Unit B is located through a commercial parking lot, which may detract from the residential feel and could be a point of contention for certain tenants or future buyers.
Being situated directly adjacent to a busy business parking lot may result in increased noise and traffic, potentially impacting the privacy and tranquility of the outdoor yard spaces.
Amazing opportunity to own TWO houses in the Avenues! Live in one and rent out the other or rent out both! The main house, unit A sits on Palm Ave and has 3 bedrooms and 1.5 baths. This home has been thoughtfully updated with laminate floors, newer dual pane windows, granite countertops in the kitchen and hall bathroom plus painted cabinets. There is also a large indoor laundry room with utility sink, plenty of off street parking and a small easy to manage private fenced yard. Unit B, is behind the fence of unit A and also has it’s own private yard with gates on either side for ample privacy. This unit was completed in 2023 with permits and is a 2 bedroom 1 bath home with laminate flooring, ductless mini splits, recessed lighting, stackable washer and dryer and a large bathroom with shower and tub. The open concept kitchen and living rooms offer plenty of room for entertaining! The main entrance to unit B is off of Mangrove through the Great Harvest parking lot. In addition to the two homes, the sale also includes a portion of the parking lot that is leased out to one of the nearby businesses. Both homes are turnkey; make an appointment to see inside today!
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 | 2,440 | 2,300 | 50% |
| Lot Size | 10,890 | 11,108 | 50% |
| Price | $549.0K | $534.5K | 50% |
| Price per sq ft | $225 | $214 | 50% |
| Built year | 1945 | 1952 | 33% |
| HOA | $0 | $0 | 50% |
| Days on market | 89 | 132 | 50% |
Apr 7, 2026
$549,000
$559,000
-2% Price Drop
Initial Listing
Mar 12, 2026
$559,000
Initial Listing
Jan 23, 2026
$575,000
Initial Listing
Jul 12, 2018
$259,500
Public Record