403 Ash Street, Chico, California 95928, Chico, 95928 - 0 bed, 0 bath
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Chico, California 95928
This Income-Generating Residential Asset represents a High-Potential Investment Opportunity with a List Price of $393,000—positioned well below the $447,742 Fair Market Value by 12%. This valuation gap provides $54,742 in Instant Equity. Currently utilized as high-demand student housing generating $3,200 per month, the property maintains a Condition Rating of 4 and sits on an oversized 12,197 sqft corner lot zoned R3. This zoning allows for significant Value-Add development through additional units near Chico State. It is a strategic acquisition for Buy-and-Hold Investors or Rental Developers.
Property is moderate renovation needed.
Built in 1904, this property is a well-maintained historic home primarily used for student housing. While it features recent interior and exterior paint and general repairs, the kitchen and bathrooms remain dated with basic cabinetry and older white appliances. The flooring and fixtures are functional but reflect a rental-grade quality rather than a modern renovation, fitting the criteria for a property that is aged but maintained through regular upkeep.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 12197, living area = 2290.
With a proven rental history of $3,200 per month, this property offers an exceptional cap rate and immediate cash flow for investors.
The oversized quarter-acre corner lot is zoned R3, providing a rare opportunity to increase density by adding additional units in a high-demand area.
Built in 1904, the property likely requires ongoing specialized maintenance and potential upgrades to aging infrastructure common in century-old homes.
The property's popularity for community and student living often leads to higher-than-average wear and tear, necessitating more frequent cosmetic and structural repairs.
Investors take note! Large two story home well suited to community living! Ideally located near Chico State, downtown and services. Very popular with the student population; easily rents for $3,200 per month. Over a quarter acre corner lot zoned R3 for additional units so lots of potential for someone in the contracting world or a hands on owner with rental development experience. Recent interior and exterior paint, back fence, general repairs and clean up to be ready for the Spring leasing season. Grab your favorite Realtor and schedule a showing today!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 3.0 | 3% |
| Baths | 0.0 | 2.0 | 3% |
| Square foot | 2,290 | 1,649.5 | 87% |
| Lot Size | 12,197 | 6,970 | 87% |
| Price | $393.0K | $465.0K | 25% |
| Price per sq ft | $172 | $293 | 3% |
| Built year | 1904 | 1993 | 1% |
| HOA | $0 | $0 | 50% |
| Days on market | 44 | 166 | 3% |
Mar 9, 2026
$393,000
Initial Listing
Apr 10, 2017
$362,500
Public Record
Dec 20, 2013
$292,500
Public Record