Property Details
About this Property
Welcome to 4 Lanterns apartments, a fantastic multifamily opportunity in Chico, CA. Built in 1983, this low-density community sits on a large 0.45 acre lot and features (4) spacious four-bedroom, two-bathroom floor plans with approximately 1,200 square feet each. The property is fully leased with (3) of the units leased "by the bedroom" to students attending California State University, Chico and (1) unit on a standard lease. Current average rents are $2,090 per unit, demonstrating the high demand for quality affordable housing. Just blocks from California State University, Chico and Enloe Hospital, the property benefits from a diverse tenant base of both students and non-students, yet current rents remain below market. Comparable properties of similar vintage and finishes are achieving rents above $595/bedroom, highlighting a clear path for organic rent growth as units turn. Offered at a compelling basis far below replacement cost, 4 Lanterns represents a rare opportunity to acquire strong day-one cash flow with prospects to add one or more ADUs on the empty, underutilized portion of the land fronting 2nd avenue.
MLS Listing Information
MLS #
CRSN25249748
MLS Source
California Regional MLS
Days on Site
5
Interior Features
Appliances
Oven Range - Electric
Flooring
Laminate
Cooling
Central Forced Air
Heating
Central Forced Air
Exterior Features
Pool
None
Parking, School, and Other Information
Garage/Parking
Garage: 0 Car(s)
HOA Fee
$0
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 2 | 4 | 4 |
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
703 W 2nd is a Residential Income in Chico, CA 95926. This – square foot property sits on a 19,602 Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $1,050,000 and was built in 1983. This address can also be written as 703 W 2nd, Chico, CA 95926.
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This listing information is up-to-date as of October 30, 2025. For the most current information, please contact Spencer Moyer, (916) 885-4205
