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Listed by Brent Silberbauer, DRE #02019819 • eXp Realty of California, Inc.
$ 2,100,000
Est. payment /mo
New
1121 1129 Magnolia AVE Chico, CA 95926
0.55 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSN26175730
Year Built 1908
Lot Size 0.550 Acres
Source California Regional MLS
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.
Location
State CA
County Butte
Interior
Heating Central Forced Air
Cooling Central AC
Laundry Community Facility
Exterior
Pool None
Building
Water District - Public
Others
Tax ID 003092008000
Special Listing Condition Not Applicable
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