703 2nd, Chico, CA 95926

Chico
Local realty services provided by:ERA North Orange County Real Estate
703 2nd,Chico, CA 95926
$975,000
  • - Beds
  • - Baths
  • - sq. ft.
  • Multi-family
  • Sold
Listed by: spencer moyer
Office: alive commercial real estate
MLS#:SN25249748
Source:CAREIL

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Price summary

  • Price:$975,000

About this home

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...

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Home facts

  • Year built:1983
  • Listing ID #:SN25249748
  • Added:181 day(s) ago
  • Updated:May 03, 2026 at 06:37 AM

Rooms and interior

  • Flooring:Laminate

Heating and cooling

  • Cooling:Central Air
  • Heating:Central Forced Air

Structure and exterior

  • Year built:1983
  • Lot Features:Mid Block
  • Levels:1 Story

Utilities

  • Water:District - Public

Finances and disclosures

  • Price:$975,000

Features and amenities

  • Laundry features:Laundry Area
  • Amenities:Ceiling Fan(s)
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