Home | Butte County | Chico | 95926 | 703 W 2nd
MLS: CRSN25249748 | Status: Sold | Price: $975,000
Beds/Baths: – / –
Property Type: Residential Income
| Beds | Baths | Sq Ft | Sq Ft Lot | Yr Built |
|---|---|---|---|---|
| – | – | – | 19,602 | 1983 |
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.
| Field | Value |
|---|---|
| MLS # | CRSN25249748 |
| MLS Source | California Regional MLS |
| Feature | Details |
|---|---|
| Appliances | Oven Range - Electric |
| Flooring | Laminate |
| Cooling | Central Forced Air |
| Heating | Central Forced Air |
| Feature | Details |
|---|---|
| Pool | None |
| Feature | Details |
|---|---|
| Garage/Parking | Garage: 0 Car(s) |
| HOA Fee | $0 |
Spencer Moyer
Alive Commercial Real Estate
License #: 01940191
Phone: (916) 885-4205
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 2 | 4 | 4 |
School data provided by GreatSchools.org
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This listing information is up-to-date as of April 02, 2026. For the most current information, please contact Spencer Moyer, (916) 885-4205.