703 W 2Nd St Chico, CA 95926
Multifamily property near university and hospital with income potential.
Lot size:
0.45 AcresProperty Features for 703 W 2Nd St
General Information
- Property type
- Investment
- Standard status
- Pending
- Lot size
- 0.45 Acres
Building Details
- Year built
- 1983
Source:
Elliman
Listing Agent: Spencer Moyer
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Chico Multifamily Investment Opportunity
This multifamily property, constructed in 1983, is situated on a 0.45-acre lot in Chico, California. It features four spacious four-bedroom, two-bathroom units, each approximately 1,200 square feet. The property is fully leased, with three units leased 'by the bedroom' to students attending California State University, Chico, and one unit on a standard lease. The current average rent is $2,090 per unit. Located blocks from California State University, Chico, and Enloe Hospital, the property benefits from a diverse tenant base of students and non-students. There is potential for organic rent growth as units turn, with comparable properties achieving rents above $595 per bedroom. There is an opportunity to add one or more Accessory Dwelling Units (ADUs) on the underutilized portion of the land fronting 2nd Avenue.
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Chico
- County
- Butte
- State
- California
- Longitude
- -121.846204
- Latitude
- 39.726039
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Multifamily property near university and hospital with income potential.
Where is this quadplex located?
The property is located at 703 W 2Nd St Chico, CA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: - Strong day-one cash flow with below-market rents indicating immediate upside potential.; - Opportunity to add one or more ADUs on the underutilized land, increasing property value.; - Located blocks from California State University, Chico and Enloe Hospital, ensuring consistent tenant demand.
