Student Housing Near CSU
721 W 11th St Chico, CA 95928
721 W 11th St, Chico, CA, 95928
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For Sale
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44-unit student housing community near California State University, Chico.
Property Size68,375 SF
Price / SF$244.97
Days on Market156
Property Features for 721 W 11th St
General Information
- Standard status
- Active
- Size
- 68,375 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1989
Listing Agency
ALIVE Commercial Real Estate
Listed by
Spencer Moyer · License #CA 01940191
Source
Crexi
Added: Feb 11 Checked: Jul 16 at 12:13 pm
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of ALIVE Commercial Real Estate
Investment Insights
Based on property information with market context.
Creekside Manor Apartments is a 44-unit student housing community constructed in 1989. It is located within walking distance of California State University, Chico, approximately 0.7 miles from campus. The community consists of 43 four-bedroom, two-bathroom units and 1 two-bedroom, two-bathroom unit, all featuring modern finishes and amenities. Every unit has been renovated with updated kitchen appliances, tile flooring, modern cabinetry, and in-unit washer and dryers. The property has been 100% pre-leased by early winter for nearly 20 years, particularly by sophomores. The property is positioned to capitalize on rising enrollment and rent growth without the need for major additional capital investment. The property is located in a market characterized by a sluggish pipeline for purpose-built student housing, with no new inventory currently underway. Additionally, the 560-unit dormitory "Whitney Hall" is offline with no plans to reopen in the near future. The property size is 68375 square feet.
Key Highlights
- Prime location: Just 0.7 miles to California State University, Chico (CSUC).
- Proven pre‑leasing success: 100% pre‑leased by early winter for nearly 20 years.
- Recently renovated units feature updated kitchen appliances, tile flooring, modern cabinetry, and in‑unit washer/dryers.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.49M | $21.84 |
| − Vacancy | −$58.2k | −$0.85 |
| EGI | $1.44M | $20.99 |
| − OpEx | −$645.8k | −$9.44 |
| NOI | $789.3k | $11.54 |
68,375 SF · lease $21.84/SF/yr · vacancy 3.90% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$11.28M
$9.87M – $13.15M
NOI $789,289 @ 7.0% cap · market cap 4.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.81M
$12.08M – $16.11M
NOI $966,378 @ 7.0% cap · market cap 5.77%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Creekside Manor Apartments
Apartment Complex
Baker And Beach Property ...
Property Management Company
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FAQs
What type of property is this?
Apartment building - 44-unit student housing community near California State University, Chico.
Where is this apartment building located?
The property is located at 721 W 11th St Chico, CA.
What is the asking price?
The asking price for this property is $16,750,000.
What are key features of this property?
This property features: Prime location: Just 0.7 miles to California State University, Chico (CSUC).; Proven pre‑leasing success: 100% pre‑leased by early winter for nearly 20 years.; Recently renovated units feature updated kitchen appliances, tile flooring, modern cabinetry, and in‑unit washer/dryers.
