2240 Nord Ave Chico, CA 95926

Property Details for 2240 Nord Ave

Lot size

11.77 lot acres

Property type

Commercial real estate

APN

042-140-174-000

Description

This exceptional 11.77± acre parcel in Chico, CA, presents a prime opportunity for immediate multifamily development. Approved for 208 units, the property boasts an R-2 zoning designation, permitting a density of 17.8 dwelling units per acre. The site plan includes a mix of one, two, and three-bedroom units across three building types, catering to a diverse range of renters. Its strategic location within the Corridor Opportunity Site Overlay (COS) enhances its appeal. Situated just 1.4± miles from California State University, Chico, this location offers proximity to a large student population and a robust rental market. The land is surrounded on three sides by existing single-family residences, providing a desirable residential context. The property's APN is 042-140-174-000, and it's offered at $4,160,000. This is a turnkey opportunity for developers seeking a high-density, multifamily project in a thriving California market. The property is ready for immediate development, eliminating lengthy permitting processes. This represents a significant investment opportunity with strong potential for substantial returns. All necessary approvals are in place, making this a truly exceptional offering. The Butte County location and convenient proximity to CSU Chico ensure a consistent demand for rental units. Don't miss this chance to acquire a highly desirable, fully approved multifamily development site.