703 2nd

Chico, CA, 95926

For Sale $1,050,000

0.45acre

Shen Schulz (310) 980-8809shen@shenrealty.com

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.

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Listed by:

Spencer Moyer with Alive Commercial Real Estate

(916) 314-7005

703 2nd is a Residential Income Quadruplex property located in Chico, California, featuring a 0.450 acre lot, MLS #SN25249748.

Based on information from one of the following Multiple Listing Services: CRMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Trestle and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. All data, including all measurements and calculations of area, is obtained from various sources, is approximate, and has not been, and will not be, verified by broker or MLS. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. All information should be independently reviewed and verified for accuracy. No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of such measurements.

Data last modified: 2025-11-05 21:35:46