1121 1129 Magnolia Avenue, Chico, CA 95926
- $2,100,000
- List Price
- $2,100,000
- Status
- ACTIVE
- MLS#
- SN26175730
- Year Built
- 1908
- Lot Size
- 23,958
- Acres
- 0.55
- Lot Location
- Pasture, Near Public Transit
- Days on Market
- 25
- Property Type
- Multifamily
- Property Sub Type
- Mixed Use
Property Description
Magnolia Apartments is a 17-unit multifamily offering across two character buildings on one oversized parcel in the heart of Chico. 1129 Magnolia, built in 1908, is a classic two-story with a centered entry framed by mature landscaping. 1121 Magnolia, known locally as The French Quarter, was built in 1945 and adds its own street presence along a tree-lined block shaded by a heritage oak. The mix of five studios, eleven one-bedrooms, and one two-bedroom sits within walking distance of Chico State, Enloe Medical Center, Chico High School, and downtown dining, the deepest pocket of rental demand in Butte County. Major capital items are already handled: new roofs were installed in 2019, and units are equipped with new mini split systems for efficient heating and cooling. The standout feature is the land itself. The parcel extends well beyond the two buildings, with a large graded rear yard fronting an existing off-street parking field. A buyer here is acquiring more than 17 income units; they are acquiring a central Chico site with room to grow on their own timeline. Offering memorandum, rent roll, renderings, and video walk-through available upon request. Please do not disturb the tenants.
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Additional Information
- Pool Description
- None
- Heat
- Central
- Cooling
- Yes
- Cooling Description
- Central Air
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 17
- Gross Scheduled Income
- $218,607
- Operating Expense
- 86893
Listing courtesy of Listing Agent: Brent Silberbauer (brent@brentsellschico.com) from Listing Office: eXp Realty of California, Inc..
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.