2701 2804 Burnap Avenue, Chico, CA 95973

About this commercial property

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.

Listing description from the January 2024 sale, as reported to CRMLS.

Sale history

$1,560,000

Sold January 2024 · listed $1,695,000, orig. $1,950,000, on market October 2023 · MLS #SN23195930 · Source: CRMLS

Listing Agent: Derek Sandgren · Listing Office: Helm Properties · Contact: 530-844-0505 · Bought with: Daisy Finazzo · Discovery Homes

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