
Chico, California 95926
This triplex represents a High-Potential Investment Opportunity, listed at a List Price of $595,000, which aligns with its $595,000 Fair Market Value. Featuring a Condition Rating of 3, the property offers modernized interiors with Granite Kitchens and updated HVAC systems across three distinct units. The expansive 17,860 sqft lot and a rear structure ready for development provide significant upside for forced appreciation. This asset is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a versatile, income-producing property in the Chico Unified district.
Property is move-in ready.
While originally built in 1942, the property has undergone extensive renovations across all three units. The kitchens feature granite countertops and stainless steel appliances, bathrooms have been updated, and all units are equipped with modern central HVAC systems. The interior finishes and overall condition suggest a comprehensive renovation within the 5-15 year range, making it well-maintained and move-in ready.
This triplex features three distinct, updated living spaces with flexible layouts and dedicated HVAC systems, offering high rental demand and excellent cash flow potential for investors or owner-occupants.
The property includes a separate rear structure already taken down to the studs and a large 17,860 sqft lot, providing a clear path for expansion or the addition of an ADU to increase equity.
Each unit showcases thoughtful upgrades such as granite countertops, vaulted wood ceilings, and stamped concrete floors, reducing the need for immediate capital expenditures on renovations.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 4007, other record living area = 3047.
With 114 days on the market, the property may be facing a 'stale' listing perception, which could indicate pricing misalignment or underlying buyer hesitation in the current market.
The rear structure requires significant capital investment and permit verification to complete, posing a financial and administrative burden on the buyer to realize its full potential.
Exceptional opportunity featuring three distinct units with incredible flexibility, income potential, and future upside. This versatile property offers multiple residential-style living spaces with thoughtful updates throughout, creating an ideal setup for investors, owner-occupants, or those seeking flexible living arrangements. The front unit, prominently positioned along Oleander Ave, features vaulted wood ceilings, abundant natural light, an open-concept layout, updated bathroom, and its own dedicated HVAC system. The flexible studio-style floor plan lends itself to a variety of lifestyle and living configurations. The middle unit has been fully renovated and showcases granite countertops, tile flooring, pantry storage, in-unit laundry area, updated bathroom, tall ceilings, central heating and air, and direct access to a private outdoor living space. The back unit has been extensively improved and offers a unique two-story layout with stamped concrete floors, updated kitchen, built-in cabinetry, dramatic fireplace feature wall, soaring ceilings, abundant natural light, and central heating and air. Upstairs, the spacious primary suite includes a full bathroom, walk-in closet, and additional flex space ideal for a home office, gym, studio, or retreat area. Adding even more value, the rear portion of the property—accessible from the city alley—includes a separate structure already taken down to the studs, creating outstanding potential for future improvement, expansion, or additional living space (buyer to verify). With multiple units, updated interiors, private outdoor areas, and flexible floor plans, this property presents a rare opportunity with strong income-producing potential and long-term versatility
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 1.0 | 3.3 |
| Baths | 3.0 | 2.5 |
| Square foot | 4,007 | 2,092.462 |
| Lot Size | 17,860 | 9,817.769 |
| Price | $569.0K | $531.5K |
| Price per sq ft | $142 | $212 |
| Built year | 1942 | 1959 |
| HOA | $0 | $0 |
| Days on market | 131 | 79 |
Sep 5, 2026
$569,000
$595,000
-4% Price Drop
Initial Listing
May 1, 2026
$595,000
Initial Listing
Nov 2, 2015
$130,000
Public Record