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Downtown Chico - 242 Broadway Suite 12, Chico CA 95928

CHESTNUT UNIT ADDITION

OVERVIEW

We took a red tagged attic space from this 1910 property, and converted it into a brand new 4 bedroom 2 bath unit.

  • New Foundation
  • Conversion from 3 units to 4 legal units
  • New Beds/Bathrooms (downstairs unit)
  • New Beds/Bathrooms (upstairs unit)
  • Drafting/Construction Documents/Permitting
  • New Facade & Porches

BUDGET

150K

  • Demo and Reframe Attic into to 4 Bedroom 2 bath unit
  • Remove and Rebuild front porches

50K

  • Remodel Downstairs Unit
  • Add 1 Bedroom
  • Add 1 Bathroom
  • Install Mini-split Heat/Cool System
  • ADA compliance

25K

  • Utility, Trenching, Panel Work

ROI & OUTCOME

Before
Unit 1  Income $21,000

After
Unit 1  Income $29,400/year
Unit 2  Income $28,200/year

Gross Increase $36,600
Improvements $225,000
16.3% Return

Unit 2 (New)

This was an attic space, unused and was converted into a fully permitted and legal 4 bedroom 2 bath unit.

Unit 1

This was a tired 3 bedroom 1 bath unit, which was stripped to studs, then re framed into a 4 bedroom 2 bath unit.