Chico, CA 95926,703 W 2nd
Chico, CA 95926,703 W 2nd
Chico, CA 95926,703 W 2nd
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Melissa Seanez

Melissa Seanez

+1(626) 723-6030
$1,050,000
Est. payment /mo
0.45 Acres Lot
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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Pending

Purchase Type For Sale

MLS Listing ID SN25249748

HOA Y/N No

Year Built 1983

Lot Size 0.450 Acres

Property Sub-Type Quadruplex

Property Description

Welcome to 4 Lanterns apartments, a fantastic multifamily opportunity in Chico, CA. Built in 1983, this low-density community sits on a large 0.45 acre lot and features (4) spacious four-bedroom, two-bathroom floor plans with approximately 1,200 square feet each. The property is fully leased with (3) of the units leased "by the bedroom" to students attending California State University, Chico and (1) unit on a standard lease. Current average rents are $2,090 per unit, demonstrating the high demand for quality affordable housing. Just blocks from California State University, Chico and Enloe Hospital, the property benefits from a diverse tenant base of both students and non-students, yet current rents remain below market. Comparable properties of similar vintage and finishes are achieving rents above $595/bedroom, highlighting a clear path for organic rent growth as units turn. Offered at a compelling basis far below replacement cost, 4 Lanterns represents a rare opportunity to acquire strong day-one cash flow with prospects to add one or more ADUs on the empty, underutilized portion of the land fronting 2nd avenue.

Location

State CA

County Butte

Interior

Interior Features Ceiling Fan(s)

Heating Central

Cooling Central Air

Flooring Laminate

Fireplaces Type None

Fireplace No

Appliance Electric Range

Laundry Common Area

Exterior

Pool None

Community Features Biking, Suburban, Sidewalks

Utilities Available Electricity Connected, Natural Gas Connected, Other, Water Connected

Private Pool No

Building

Lot Description 6-10 Units/Acre

Story 1

Entry Level One

Sewer Septic Type Unknown

Water Public

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 043170002000

Acceptable Financing Conventional

Listing Terms Conventional

Special Listing Condition Standard

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CRMLS – RECore
Listed by Spencer Moyer Alive Commercial Real Estate 8589224181

Nearby School & Business

SCHOOLS PROPERTIES
Elementary Schools 20
  • 9

    Sierra View Elementary School

    Public | KG - 6

  • 8

    Chico Country Day

    Public | KG - 8

  • 7

    Shasta Elementary School

    Public | KG - 6

  • 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

Middle Schools 4
  • 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

High Schools 5
  • 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

School and business data provided by Attom Data.

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Melissa Seanez

Melissa Seanez

+1(626) 723-6030

Agent | License ID: 02137015

Agent License ID: 02137015

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