703 W 2nd, Chico, CA 95926

Local realty services provided by:Nelson Shelton Real Estate ERA Powered
703 W 2nd,Chico, CA 95926
$1,050,000
  • - Beds
  • - Baths
  • 4,800 sq. ft.
  • Multi-family
  • Pending
Listed by: spencer moyer
Office: alive commercial real estate
MLS#:SN25249748
Source:CRMLS

Price summary

  • Price:$1,050,000
  • Price per sq. ft.:$218.75

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:114 day(s) ago
  • Updated:February 21, 2026 at 08:31 AM

Rooms and interior

  • Living area:4,800 sq. ft.

Heating and cooling

  • Cooling:Central Air
  • Heating:Central

Structure and exterior

  • Year built:1983
  • Building area:4,800 sq. ft.
  • Lot area:0.45 Acres

Utilities

  • Water:Public, Water Connected
  • Sewer:Septic Tank

Finances and disclosures

  • Price:$1,050,000
  • Price per sq. ft.:$218.75
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