ALIVE Commercial Real Estate is pleased to exclusively present The Grand Apartments, a 50-unit multifamily community located at 1431–1435 Warner Avenue in Chico, California. The property consists of (49) one-bedroom, one-bathroom units and (1) two-bedroom, one-bathroom unit—an attractive mix in a submarket largely saturated with larger two-, three-, and four-bedroom floor plans. Over the past two years, the property has undergone significant upgrades, including a full exterior repaint with a modern two-tone scheme and a comprehensive interior renovation program completed on 28 of the 50 units. These renovations have consistently achieved rent premiums of $1,150 to $1,200 for the one-bedroom units. With a substantial portion of the value add work already completed, a new owner is well-positioned to continue renovating the remaining 22 units and drive further upside, with projected cash-on-cash returns approaching 10%. In addition, several hundred thousand dollars have been spent over the past four years in capital improvements, including a new roof and the replacement of 25 HVAC units.