Avenue Triplex with Expansion
For Sale
Contact for pricing
131 W 3rd, Chico, CA 95926
Triplex near Chico State with potential for increased income.
Property SizeContact for details
Days on Market166
Property Features for 131 W 3rd
General Information
Standard status
Active
Property subtype
Multifamily
Zoning
Public Rec
Building Details
Buildings
2
Stories
2
Units
5
Listing Agency:
Keller Williams Realty Chico Area
(530) 212-7373
Listed By:
Matthew Herman · License #01505777
Source:
Crexi
Added: Feb 27
Changed: Aug 8
Last Checked: Aug 11 at 10:29AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty Chico Area
Investment Insights
Based on property information with market context.
This property features two buildings on a single lot, offering both current income and future potential. Located three blocks from Chico State and Enloe Hospital, the property includes a detached 3-bedroom, 2-bathroom house (133) with a one-car garage, currently used as a part-time AirBnB rental. The house has been remodeled with quartz countertops, stainless steel appliances, and luxury vinyl plank flooring. The front building contains a remodeled 3-bedroom, 1-bathroom unit and a 1-bedroom, 1-bathroom unit, both of which are currently tenanted. Additionally, there are two basement units that have been updated with new tile flooring, walk-in showers, and fresh paint. One basement unit is a 2-bedroom, 1-bathroom unit with a mini split system, washer/dryer, and quartz countertops. The second basement unit is a 1-bedroom, 1-bathroom unit. There is a potential to convert this three-unit property into a five-unit asset through targeted egress improvements, bringing all units into City of Chico conformance.
Key Highlights
- Path to Five Units: Opportunity to convert to a legal five‑unit property through egress improvements.
- Income Potential: Immediate income from existing tenants and AirBnB, with significant upside potential.
- Prime Location: Located three blocks from Chico State, Enloe Hospital, and the Avenues.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,651
Businesses Nearby
Explore this area
Business Placement
Demographics for 95926, CA
41,259
Population
18,566
Households
2.2
Avg Household Size
31
Median Age
45%
College-Educated
96%
High-School Grad
7.8 sq mi
ZIP Area
5,290
Density / Sq Mi
$62,334
Median Household Income
$27,870
Median Earnings
$1,418
Median Rent
$462,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Triplex near Chico State with potential for increased income.
Where is this triplex located?
The property is located at 131 W 3rd Chico, CA.
What is the asking price?
The asking price for this property is $829,000.
What are key features of this property?
This property features: Path to Five Units: Opportunity to convert to a legal five‑unit property through egress improvements.; Income Potential: Immediate income from existing tenants and AirBnB, with significant upside potential.; Prime Location: Located three blocks from Chico State, Enloe Hospital, and the Avenues.
