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2701 Burnap AVE Chico, CA 95973
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Key Details
Sold Price $1,560,000
Property Type Commercial
Sub Type Industrial
Listing Status Sold
Purchase Type For Sale
Square Footage 15,540 sqft
Price per Sqft $100
MLS Listing ID SN23195930
Sold Date 01/19/24
HOA Y/N No
Year Built 1979
Lot Size 0.980 Acres
Acres 0.98
Property Sub-Type Industrial
Property Description
Excellent investment opportunity to own a Self Storage property in Chico. George's Mini Storage is comprised of two locations, totaling 118 units. Located at the busy intersection of E. Lassen Ave and Burnap Ave, these properties offer an ideal location for high visibility and opportunity to service the surrounding multifamily occupants. The Seller just completed recent exterior improvements including new exterior paint, underground site drains, rod iron fencing, access gates, ballards and slurry seal. The property is in excellent condition and requires very low maintenance. Rents are currently below market value. The new owner can capitalize on recent property improvements to increase rents to market value and increase occupancy to quickly achieve an +/- 8% CAP. This is an excellent investment for someone looking to start out in self-storage, or a seasoned operator looking to add to their portfolio.
Location
State CA
County Butte
Zoning R2
Interior
Heating None
Cooling None
Laundry None
Exterior
Fence Security
Roof Type Metal
Building
Lot Description Corner Lot, Lot 10000-19999 Sqft, Level
Story 1
Water None
Others
Security Features Security Lights
Special Listing Condition Standard
Lease Land No
Confidential INFO
BAC 2.5
TERMS 1031 Exchange,Cash,Conventional
LIST AGRMT Exclusive Right To Sell
LIST SERVICE Full Service
SHOW CONTACT TYPE Agent
SHOW INSTRUCTIONS Please go and show anytime. Call listing agent for additional information.
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Bought with Discovery Homes