Eight-Unit Apartment
For Sale
Contact for pricing
Pending
811 W 2nd, Chico, CA 95926
Eight-unit apartment complex featuring six two-story four-bedroom units and two studio units with off-street parking.
Property Size8,880 SF
Days on Market157
Property Features for 811 W 2nd
General Information
Standard status
Pending
Size
8,880 SF
Property subtype
Multifamily
Zoning
Public Rec
Net Operating Income
$80,401
Additional Details
Multifamily Units
8
Building Details
Year Built
1984
Buildings
2
Stories
2
Units
7
Tenancy
Multi
Listing Agency:
Parkway Real Estate Co
(530) 809-3746
Listed By:
Rick Sufuentes · License #CA 01486988
Source:
Crexi
Added: Mar 8
Changed: Aug 7
Last Checked: Jul 27 at 9:38AM
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 Parkway Real Estate Co
Investment Insights
Based on property information with market context.
811 W 2nd Avenue is an eight-unit apartment complex featuring six two-story, four-bedroom, two-bath units and two studio units. The property includes off-street parking and offers a practical mix of unit types.
Located in central Chico, the building is described as being two blocks from Chico State University and near the Safeway Shopping Center, restaurants, and public transportation. The area provides convenient access to shopping, dining, and major corridors throughout Chico.
Several units have received recent updates, which may support improved leasing and tenant-ready presentation compared to unupdated units. The overall configuration is suited to an investor or owner looking for multifamily income in a university-adjacent rental environment.
Located in central Chico, the building is described as being two blocks from Chico State University and near the Safeway Shopping Center, restaurants, and public transportation. The area provides convenient access to shopping, dining, and major corridors throughout Chico.
Several units have received recent updates, which may support improved leasing and tenant-ready presentation compared to unupdated units. The overall configuration is suited to an investor or owner looking for multifamily income in a university-adjacent rental environment.
Key Highlights
- 8‑unit apartment complex built in 1984
- Unit mix includes six two‑story 4‑bedroom/2‑bath units plus two studio units
- Off‑street parking available for residents
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$102,507
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.37%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,050,140
$2.1M
Cap Rate 7%
$1,464,386
$1.5M
Cap Rate 9%
$1,138,967
$1.1M
Market Conditions
NOI Build-Up for 8,880 SF
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.
Gross rent
$193.9K $21.84/SF
− Vacancy
−$7.6K −$0.85/SF
EGI
$186.4K $20.99/SF
− OpEx
−$83.9K −$9.44/SF
NOI
$102.5K $11.54/SF
Area
Chico, CA
Vacancy
3.90%
Lease Rate
$21.84 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,050,140
Cap Rate 7%
$1,464,386
Cap Rate 9%
$1,138,967
Alternative Uses
Best Use
Apartment 5plus
$1.46M
$1.28M – $1.71M
NOI $102,507 @ 7.0% cap · market cap 8.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.79M
$1.57M – $2.09M
NOI $125,506 @ 7.0% cap · market cap 10.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,076
Businesses Nearby
Explore this area
Business Placement
Demographics for 95926, CA
41,259
Population
18,566
Households
2.2
Avg Household Size
31
Median Age
45%
College-Educated
96%
High-School Grad
7.8 sq mi
ZIP Area
5,290
Density / Sq Mi
$62,334
Median Household Income
$27,870
Median Earnings
$1,418
Median Rent
$462,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Eight-unit apartment complex featuring six two-story four-bedroom units and two studio units with off-street parking.
Where is this apartment building located?
The property is located at 811 W 2nd Chico, CA.
What is the asking price?
The asking price for this property is $1,225,000.
What are key features of this property?
This property features: 8‑unit apartment complex built in 1984; Unit mix includes six two‑story 4‑bedroom/2‑bath units plus two studio units; Off‑street parking available for residents
