UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SN25136861
HOA Y/N No
Year Built 1984
Lot Size 0.450 Acres
Property Sub-Type Apartment
Property Description
Harris Commercial is pleased to present College Place, an exceptional 8-unit multi-family investment opportunity located at 642 W. 1st Avenue in Chico, California. Ideally situated within walking distance to both California State University, Chico and downtown Chico, this property offers strong existing income, long-term upside, and an unbeatable location.
College Place consists of two buildings, each with four large, townhouse-style apartments, all fully leased and 100% occupied. Each 4-bedroom, 2-bath unit is thoughtfully laid out with a downstairs bedroom, bathroom, kitchen, and living area, and three bedrooms and a second bathroom upstairs—a layout perfectly suited for student and group living.
One of the units has been completely remodeled, commanding rents approximately 8% higher than the others, providing a clear value-add opportunity for future ownership.
Additional highlights include:
- Individually metered for electric, gas, and water – a rare and valuable feature that shifts utility costs to tenants
- Connected to city sewer and full municipal services
- Private fenced patios for each unit
- Low-maintenance, professionally redesigned landscaping to minimize ongoing expenses
- Fenced common rear yard with bike racks and BBQ area
- Professionally managed for many years with stable operations and low vacancy
With a desirable unit mix, separate utility metering, professional management, and premium walkability, College Place offers a rare opportunity to acquire a high-performing, easy-to-operate asset in one of Chico's most sought-after rental markets.
Location
State CA
County Butte
Zoning CITY
Interior
Heating Central
Cooling Central Air
Fireplaces Type None
Fireplace No
Laundry Inside
Exterior
Parking Features Concrete
Fence Chain Link
Pool None
Community Features Biking, Curbs, Gutter(s), Storm Drain(s), Sidewalks, Urban
Roof Type Composition
Private Pool No
Building
Lot Description Back Yard, Level, No Landscaping, Near Public Transit, Rectangular Lot, Street Level, Yard
Story 2
Entry Level Two
Foundation Slab
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 043170024000
Acceptable Financing Submit
Listing Terms Submit
Special Listing Condition Standard
Nearby School & Business
- 9
Sierra View Elementary School
Public | KG - 6
- 8
Chico Country Day
Public | KG - 8
- 6
Core Butte Charter
Public | KG - 12
- 6
Wildflower Open Classroom
Public | KG - 8
- 6
Hooker Oak Elementary School
Public | KG - 8
- 6
Sherwood Montessori
Public | KG - 8
- 6
Parkview Elementary School
Public | KG - 6
- 5
Emma Wilson Elementary School
Public | KG - 6
- 5
Rosedale Elementary School
Public | KG - 6
- 5
Neal Dow Elementary School
Public | KG - 6
- 5
Marigold Elementary School
Public | KG - 6
- 4
Blue Oak Charter
Public | KG - 8
- 3
McManus (John A.) Elementary School
Public | KG - 6
- 2
Citrus Avenue Elementary School
Public | KG - 6
- 1
Oakdale
Public | KG - 12
- 1
Chapman Elementary School
Public | KG - 6
- 0
Notre Dame School
Private | KG - 8
- 0
Rose Scott Learning Community
Private | KG - 10
- 0
Loma Vista
Public | KG - 12
- 6
Bidwell Junior High School
Public | 7 - 8
- 5
Chico Junior High School
Public | 7 - 8
- 1
Center for Alternative Learning
Public | 6 - 12
- 0
Academy for Change
Public | 7 - 12
- 9
Inspire School of Arts and Sciences
Public | 9 - 12
- 9
Pleasant Valley High School
Public | 9 - 12
- 7
Chico High School
Public | 9 - 12
- 0
Fair View High (Continuation)
Public | 9 - 12
- 0
Champion Christian School
Private | 9 - 12
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