951 Walnut, Chico, California 95928, Chico, 95928 - 3 bed, 1 bath
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Chico, California 95928
This High-Density Development Asset is offered at a List Price of $399,000, aligning with its $389,617 Fair Market Value. Currently maintaining a Condition Rating of 3, the 1930s 3-bedroom residence features a Remodeled Bathroom and a New Oversized Deck with a serene Creek View. The property offers immense value-add potential via its R3-Zoned Lot and shovel-ready plans for six units, with construction management options available. Situated near Chico State in the Chico Unified district, this is a strategic acquisition for Buy-and-Hold Investors or Developers looking to maximize multi-unit ROI.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 951 Walnut Subject | $399,000* List Price | 3 | 1 | 1,089 | $366 | - |
A 1178 Marian Avenue Sold | $367,000 | 3 | 2 | 1,040 | $353 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is move-in ready and well-maintained, featuring a fully remodeled bathroom, brand-new oversized back deck, and newer windows throughout. While the home dates back to 1930, the combination of original hardwood floors in good condition and significant recent updates to key areas makes it functional and attractive without requiring immediate renovation.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 13504, living area = 1089.
The R3-zoned lot includes shovel-ready plans for six additional units, offering a significant value-add opportunity and a streamlined path for investors to maximize density.
Situated near Downtown Chico and Chico State, the property is perfectly positioned for high rental demand while offering the unique natural appeal of bordering Little Chico Creek.
With three bedrooms and only one bathroom, the current layout may be less functional for larger households or multi-tenant student housing scenarios.
As a property built in 1930, buyers should anticipate potential maintenance needs or required upgrades to aging systems typical of homes from this era.
Close to Downtown and Chico State, this R3-zoned property sits on a spacious .31-acre lot bordering Little Chico Creek. The charming red home with its inviting covered front porch welcomes you the moment you arrive. Inside, enjoy hardwood floors, newer windows throughout, a kitchen with a gas range, and a fully remodeled bathroom. A brand-new oversized back deck overlooks the expansive fenced yard and large shop, a rare advantage so close to town. The property also comes with shovel-ready plans to build six 1-bed/1-bath units, offering exceptional development potential. Even better, the owners are licensed contractors and would prefer to build the units for your client, streamlining the entire process. Earn income with the house while you prepare to build!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 1.0 | 2.0 | 15% |
| Square foot | 1,089 | 1,640 | 16% |
| Lot Size | 13,504 | 6,970 | 87% |
| Price | $399.0K | $465.0K | 26% |
| Price per sq ft | $366 | $295 | 92% |
| Built year | 1930 | 1993 | 14% |
| HOA | $0 | $0 | 50% |
| Days on market | 153 | 166 | 42% |
Mar 14, 2026
$399,000
$420,000
-5% Price Drop
Initial Listing
Nov 20, 2025
$420,000
Initial Listing
Dec 7, 2020
$310,000
Public Record
Oct 15, 2018
$255,000
Public Record
Jun 27, 2012
$175,000
Public Record
May 27, 2005
$263,000
Public Record
Sep 27, 2002
$44,000
Public Record