1029 Salem Street Chico, CA 95928

$550,000 Active

About the Property

Charming Quadruplex Investment Opportunity in Downtown Chico! This unique and character-filled property offers four 1-bedroom, 1-bathroom units—each with its own distinct charm. Two units are located on the lower level, and two more are upstairs, accessible via a wide staircase that leads to a welcoming porch area perfect for relaxing. Inside the units feature high ceilings, wood-paneled doors, wainscoting, freestanding tubs, and beautifully cased wood windows. The kitchens and living areas are surprisingly spacious, making these units highly desirable. Two of the units have been updated with efficient mini-split systems for modern comfort. Additional highlights include plenty of off-street parking, a detached structure at the back that provides storage space and a laundry setup for Unit #3. Situated near Downtown Chico, Chico State, Enloe Hospital, and Bidwell Park—this is an incredible investment opportunity with prime location appeal!

Property Information

Size 2,277 SqFt
Price/SqFt $242
Lot Size 0.18 Acres
Year Built 1930
Property Type Residential Income
Zoning R3
Listing Number SN25136312
Listed 6/19/2025
Modified 6/20/2025
Listing Agent John Barroso
Listing Office Parkway Real Estate Co.
Total Building 1
Total Units 4

Property Features

# Electric Meters
  • 4
# Gas Meters
  • 4
# Water Meters
  • 1
Accessibility Features
  • 2+ Access Exits
Community Features
  • Curbs
Fireplace
  • None
Garage Spaces
  • 0.00
Gross Income
  • 39840.00
Gross Operating Income
  • 38644.00
Gross Scheduled Income
  • 39840.00
Levels
  • Two
Net Operating Income
  • 27784.00
Operating Expense
  • 13860.00
Other Structures
  • Outbuilding
Pool
  • None
Price Pe rUnit
  • 137500
Roofing
  • Composition
Sewer
  • Public Sewer
Spa
  • None
StoriesTotal
  • 2
Style
  • Craftsman
Views
  • Neighborhood
Water Source
  • Public
Cooling
  • Ductless
  • Wall/Window Unit(s)
Flooring
  • Tile
  • Vinyl
Appliances
  • Gas Oven
  • Gas Range
  • Refrigerator
Tenant Pays
  • Cable TV
  • Electricity
  • Gas
Utilities
  • Electricity Connected
  • Natural Gas Connected
  • Water Connected
Interior
  • Ceiling Fan(s)
  • Crown Molding
  • High Ceilings
  • Wainscoting