$569,000

TWO HOMES on one lot in a prime Chico location—the Avenues. This property checks every box for investors and house hackers alike, offering excellent rental history, strong upside potential, and peace of mind with recent upgrades. Located a block from Enloe Hospital, and minutes from Chico State, Chico High, and Downtown Chico, this is one of the most convenient and in-demand areas in town. The central location attracts a wide range of tenants—from students to professionals—ensuring consistent rental demand and minimal vacancy. The main home has been consistently rented for $2,225/month, but with new tenants the market rent is closer to $2,350–$2,400 as-is, and up to $2,600/month with minor updates. The ADU has rented steadily at $1,250/month, with current market rent more in the $1,350–$1,400/month range. Together, this setup provides a fantastic opportunity for steady cash flow and appreciation in one of Chico’s most desirable neighborhoods. The property has also benefited from important recent improvements, giving investors confidence in long-term performance. The roof was replaced within the last 3 years, the main house HVAC within the last 5 years, and mini-splits were added to the ADU. The exterior paint was redone in the last 5 years, and the interior paint within the last 3. The main home, accessible from Arcadian Avenue, is a 3-bedroom, 2-bathroom with an attached 2-car garage (including laundry) and a fully fenced backyard. Step inside and you’re greeted by a vaulted ceiling, making the space feel bright and open. The back unit (ADU) is tucked away with alley access, giving it privacy and separation. This charming 1-bedroom, 1-bathroom features a loft, wood plank ceilings, a spiral staircase, and its own vaulted ceiling for an airy feel. A private backyard and storage shed make this unit even more appealing. Mature landscaping provides excellent shade and curb appeal, and with separate utilities for each unit, management is simple and efficient. With its unbeatable location, strong rental demand, and key upgrades already in place, 1515 Arcadian Avenue is a smart investment you won’t want to miss.