27012804 Burnap Avenue Chico, CA 95973

$1,560,000 Closed

About the Property

Please Note: This property has been SOLD

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.

Property Information

Size 15,540 SqFt
Price/SqFt $100
Year Built 1979
Property Type Industrial
Zoning R2
Listing Number SN23195930
Listed 10/20/2023
Modified 1/19/2024
Listing Agent Derek Sandgren
Listing Office Helm Properties

Property Features

# of Units Total
  • 118
Business Type
  • Storage
  • None
Land Use
  • Other
  • Metal
Stories Total
  • 1
Water Source
  • None