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703 W 2nd, Chico, CA 95926

Chico
Local realty services provided by:CENTURY 21 Affiliated
703 W 2nd,Chico, CA 95926
$1,050,000
  • 4 Beds
  • 2 Baths
  • - sq. ft.
  • Multi-family
  • Pending
Listed by: spencer moyer
Office: alive commercial real estate
MLS#:SN25249748
Source:San Diego MLS via CRMLS

Price summary

  • Price:$1,050,000

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

  • Listing ID #:SN25249748
  • Added:137 day(s) ago
  • Updated:March 16, 2026 at 07:36 AM

Rooms and interior

  • Bedrooms:4
  • Total bathrooms:2

Heating and cooling

  • Cooling:Central Forced Air

Structure and exterior

  • Levels:1 Story

Finances and disclosures

  • Price:$1,050,000
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