997 E 16th, Chico, California 95928, Chico, 95928 - 0 bed, 0 bath
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Chico, California 95928
Analysis of 997 E 16th, Chico, California 95928 is currently available with a list price of $989,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Chico Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is moderate renovation needed.
Built in 1962, the property features partial cosmetic updates including LVP flooring, subway tile backsplashes, and stone countertops. However, the overall condition remains dated with original cabinetry, older ceiling vents, and exterior outbuildings showing significant wear. It is functional for immediate use but requires modernization of systems and structures to reach full potential.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 36155, living area = 3854.
Featuring three separate homes on a single lot, this property offers immediate cash flow opportunities or a versatile setup for multi-generational living.
The expansive 0.83-acre lot provides ample space for additional ADUs and potential lot split options, allowing for phased development and increased value.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 3854, other record living area = 1419.
Originally built in 1962, the existing homes may require significant capital expenditures for modern upgrades, repairs, or energy-efficiency improvements.
Realizing the full potential of the lot split and ADU expansion is subject to city and county planning approvals, which introduces regulatory risk for the investor.
Investment opportunity with three separate homes situated on .83-acre lot offering significant future potential. Explore the possibility of adding additional ADUs and potential lot split options (buyer to investigate and confirm with city/county planning departments). Perfect setup for rental income, multigenerational living, or phased development. Existing homes provide immediate usability while future improvements create substantial upside. Rare combination of current cash flow and future expansion opportunity.
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 | 3,854 | 1,673 | 97% |
| Lot Size | 36,155 | 6,970 | 89% |
| Price | $989.0K | $475.0K | 95% |
| Price per sq ft | $257 | $301 | 13% |
| Built year | 1962 | 1991 | 33% |
| HOA | $0 | $0 | 50% |
| Days on market | 23 | 138 | 2% |
May 14, 2026
$989,000
Initial Listing
Oct 21, 2022
$495,000
Public Record
Jun 29, 2012
$183,500
Public Record