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Chico Quadplex Near University

131 W 3rd, Chico, CA 95926

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For Sale

$829,000

Apartment - Chico, CA

Type:Apartment

Property size:

5,512 SF

Lot size:

6,098.00 Acres

Price / SF:

$150/SF

HighLights

Multiplex with immediate income from existing tenants and AirBnB
High‑income potential from AirBnB with luxury amenities
Opportunity to increase unit count from three to five through egress improvements
Includes a detached, remodeled 3BD/2BA house with one‑car garage
Two additional basement units recently updated with new tile flooring, walk‑in showers, and fresh paint
Close proximity to Chico State and Enloe Hospital

We can help!

Listing Contact

Matthew Herman

For Sale

$829,000

Apartment - Chico, CA

Type:Apartment

Property size:

5,512 SF

Lot size:

6,098.00 Acres

Price / SF:

$150/SF

Added:: Mar 19, 2026
Days on Market:: 86
Last Refresh:: Jun 12 at 12:06 am

Property Features for 131 W 3rd

General Information

Property type: Residential Multi Family
Property subtype: Apartment
Bedrooms: 10
Bathrooms: 6
Rooms: Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
Parking: 1
Exterior features: Community Features Included: Curbs, Biking, 6-10 Units/Acre
Standard status: Active
APN: 003064014000
Size: 5,512 SF
Lot size: 6,098.00 Acres

Utilities

Heating system: Forced Air

Building Details

Year built: 1963
Floors in Building: 2
Number of units: 5
Architectural style: Other

We can help!

Listing Contact

Matthew Herman

Listing agent Matthew Herman License #01505777

Listing office Keller Williams Realty Chico Area 2080 E. 20th St. Suite.170, Chico, CA

Listing date Mar 19, 2026

MLS# SN26059148 Listing URL

Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

HighLights

Multiplex with immediate income from existing tenants and AirBnB
High‑income potential from AirBnB with luxury amenities
Opportunity to increase unit count from three to five through egress improvements
Includes a detached, remodeled 3BD/2BA house with one‑car garage
Two additional basement units recently updated with new tile flooring, walk‑in showers, and fresh paint
Close proximity to Chico State and Enloe Hospital

Overview

This property, located three blocks from Chico State and Enloe Hospital, consists of one home and two to four apartments. The rear property features a detached 3-bedroom, 2-bathroom house with a one-car garage, currently operating as a part-time AirBnB rental. The home was fully remodeled with amenities such as quartz countertops, stainless steel appliances, and luxury vinyl plank flooring. The front building includes a remodeled 3-bedroom, 1-bathroom unit and a 1-bedroom, 1-bathroom unit, both currently tenanted. Two additional basement units are present and occupied, each recently updated with new tile flooring, walk-in showers, and fresh paint. One basement unit is a 2-bedroom, 1-bathroom unit with mini split, washer/dryer, and quartz countertops. The second basement unit is a 1-bedroom, 1-bathroom unit. A clear path exists to bring all units into City of Chico conformance through targeted egress improvements converting this three unit into a five-unit asset. The property is situated on a lot of approximately 0.14 acres.

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$103.8k	$18.84
− Vacancy	−$3.8k	−$0.70
EGI	$100.0k	$18.14
− OpEx	−$30.0k	−$5.44
NOI	$70.0k	$12.70

5,512 SF · lease $18.84/SF/yr · vacancy 3.70% · expense 30.00%

Alternative Uses

Best Use

Multifamily LT 5

$1.00M

$875.0K – $1.17M (±1% cap)

NOI $70,003 @ 7.0% cap · market cap 8.44%

Second Best

Apartment 5plus

$909.0K

$795.4K – $1.06M (±1% cap)

NOI $63,628 @ 7.0% cap · market cap 7.68%

Theoretical Best

Office A

$1.11M

$973.8K – $1.30M (±1% cap)

NOI $77,904 @ 7.0% cap · market cap 9.40%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Quadplexes

Suggested Use

Location Insight

Map
Local Demand

City: Chico
County: Butte
State: California
Longitude: -121.8399855
Latitude: 39.7291881

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For sale
Quadplexes
CA
Chico
95926
131 W 3rd

What type of property is this?

Quadplex - Quadplex near Chico State and Enloe Hospital.

Where is this quadplex located?

The property is located at 131 W 3rd Chico, CA.

What is the asking price?

The asking price for this property is $829,000.

What are key features of this property?

This property features: Multiplex with immediate income from existing tenants and AirBnB; High‑income potential from AirBnB with luxury amenities; Opportunity to increase unit count from three to five through egress improvements

131 W 3rd, Chico, CA 95926

Apartment - Chico, CA

Property Features for 131 W 3rd

General Information

Utilities

Building Details

We can help!

HighLights

Overview

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Chico Office with Residential Potential

Commercial Building in Chico, CA

Professional Office Building Investment Opportunity

Standalone Day Care/Preschool Building

Corner Lot Duplex Opportunity

Commercial Property on Park Avenue

Chico Commercial Property on Highway

Chico Duplex with Alley Access

ADA-Compliant Office Building

Professional Office Building in Chico

Motorsports Business Opportunity in Chico

Duplex Property with Pool

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