CA > Chico
Chico, CA 95926,703 W 2nd
Chico, CA 95926,703 W 2nd
Chico, CA 95926,703 W 2nd
Chico, CA 95926,703 W 2nd
Chico, CA 95926,703 W 2nd
Chico, CA 95926,703 W 2nd
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John Fondnazio

John Fondnazio

eXp Realty, Northern California, Inc

+1(925) 817-9053
Listed by Spencer Moyer • Alive Commercial Real Estate
$ 1,050,000
Est. payment | /mo

4,800 SqFt

Save
$ 1,050,000
Est. payment | /mo
Save

4,800 SqFt

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Square Footage 4,800 sqft

Price per Sqft $218

MLS Listing ID CRSN25249748

HOA Y/N No

Year Built 1983

Lot Size 0.450 Acres

Property Sub-Type Quadruplex

Source Datashare California Regional

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

Heating Central

Cooling Central Air

Flooring Laminate

Fireplace No

Laundry Common Area

Bay East Association of Realtors
© 2025 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
John Fondnazio

+1(925) 817-9053

john@teamfondnazio.com

1212 Broadway Plz, Walnut Creek, CA, 94596-5129, USA

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