1001 Salem Street Chico, CA 95928

$509,000 Active

About the Property

Charming Tri-Plex Near Chico State - Recently Remodeled & Rented! Opportunity knocks with this clean and well-maintained tri-plex in a prime Chico location! Just minutes from Chico State, Historic Downtown, and local dining and shopping, this property features three separate units - each with its own fenced backyard and shaded by mature trees. The first unit is a 2-bedroom, 1-bathroom; the second is a 1-bedroom, 1-bathroom, and the third is a cozy studio. Two of the units have been recently remodeled, and all units have been rented to long-term tenants, offering immediate income potential. Whether you're looking to live in one and rent the others or expand your investment portfolio, this is a smart buy you don't want to miss! Tenant-Occupied - Showings by APPOINTMENT ONLY!

Property Information

Size 2,032 SqFt
Price/SqFt $250
Lot Size 0.18 Acres
Year Built 1981
Property Type Residential Income
Zoning R3
Listing Number SN25099724
Listed 4/11/2025
Modified 5/8/2025
Listing Agent Tamara Lambert
Listing Office Thrive Real Estate Company
Total Building 2
Total Units 3

Property Features

# Electric Meters
  • 3
# Gas Meters
  • 3
# Units Leased
  • 3
# Water Meters
  • 1
Cooling
  • Wall/Window Unit(s)
Fencing
  • Wood
Fireplace
  • None
Garage Spaces
  • 0.00
Gross Income
  • 35854.00
Gross Scheduled Income
  • 35854.00
Levels
  • One
Net Operating Income
  • 9855.00
Operating Expense
  • 25999.00
Parking Total
  • 4.00
Pool
  • None
Price Pe rUnit
  • 169667
Roofing
  • Composition
Sewer
  • Public Sewer
Spa
  • None
StoriesTotal
  • 1
Total Actual Rent
  • 2857.00
Total Expenses
  • 25999.00
Views
  • Neighborhood
Water Source
  • Public
Accessibility Features
  • None
  • Low Pile Carpeting
Exterior
  • Lighting
  • Rain Gutters
Flooring
  • Carpet
  • Laminate
Heating
  • Natural Gas
  • Wall Furnace
Tenant Pays
  • Electricity
  • Gas
Utilities
  • Electricity Connected
  • Water Connected
Community Features
  • Curbs
  • Gutters
  • Sidewalks
  • Suburban
Appliances
  • Free-Standing Range
  • Gas Oven
  • Gas Range
  • Refrigerator
  • Self Cleaning Oven
  • Vented Exhaust Fan