Description
Harris Commercial is pleased to present College Place, an exceptional 8-unit multi-family investment opportunity located at 642 W. 1st Avenue in Chico, California. Ideally situated within walking distance to both California State University, Chico and downtown Chico, this property offers strong existing income, long-term upside, and an unbeatable location. College Place consists of two buildings, each with four large,...College Place | 642 W. 1st Avenue | Prime Chico Multi-Family Investment Opportunity
Harris Commercial is pleased to present College Place, an exceptional 8-unit multi-family investment opportunity located at 642 W. 1st Avenue in Chico, California. Ideally situated within walking distance to both California State University, Chico and downtown Chico, this property offers strong existing income, long-term upside, and an unbeatable location. College Place consists of two buildings, each with four large, townhouse-style apartments, all fully leased and 100% occupied. Each 4-bedroom, 2-bath unit is thoughtfully laid out with a downstairs bedroom, bathroom, kitchen, and living area, and three bedrooms and a second bathroom upstairs—a layout perfectly suited for student and group living. One of the units has been completely remodeled, commanding rents approximately 8% higher than the others, providing a clear value-add opportunity for future ownership. Additional highlights include:
- Individually metered for electric, gas, and water – a rare and valuable feature that shifts utility costs to tenants
- Connected to city sewer and full municipal services
- Private fenced patios for each unit
- Low-maintenance, professionally redesigned landscaping to minimize ongoing expenses
- Fenced common rear yard with bike racks and BBQ area
- Professionally managed for many years with stable operations and low vacancy
With a desirable unit mix, separate utility metering, professional management, and premium walkability, College Place offers a rare opportunity to acquire a high-performing, easy-to-operate asset in one of Chico’s most sought-after rental markets.
- Listed by Brandon Harris • DRE #01318261 • Brokerage DRE #01946519 • Harris Commercial Real Estate • 530-828-9289
Property Details for 642 West 1st Avenue
Property Details for 642 West 1st Avenue
| Status | Active |
|---|---|
| MLS # | SN25136861 |
| Days on Compass | 162 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income / Res Income 2-4 Units |
| Year Built | 1984 |
| County | Butte County |
Location
Building Information for 642 West 1st Avenue
Payment Calculator
$9,253 per month
30 year fixed, 6.28% Interest
$7,881
$1,372
$0
Property Information for 642 West 1st Avenue
- Tenant Pays: All Utilities
- Gross Income: $162,900
- Gross Scheduled Income: $162,900
- Net Operating Income: $97,919
- Cap Rate: 6.14
- Operating Expense: $64,981
- New Taxes Expense: $19,360
- Gardener Expense: $1,800
- Pest Control Expense: $1,080
- Insurance Expense: $19,000
- Maintenance Expense: $10,500
- Professional Management Expense: $7,800
- Other Expense: $1,331
- Trash Expense: $4,110
- Total Expenses: $64,981
- Tax Census Tract: 6.04
- CFD/Mello-Roos Fee: $0
- Tax Lot: 70
- Assessments YN: Yes
- Assessments: Unknown
- Community Features: Biking, Curbs, Gutters, Sidewalks, Storm Drains, Urban
- Laundry: Yes
- Laundry Features: Inside
- Fireplace Features: None
- Fireplace Rooms: None
- Cooling: Central Air
- Heating Type: Central
- Heating: Central
- Construction Materials: Plaster, Stucco, Vinyl Siding
- Exterior Construction: Plaster, Stucco
- Exterior: Stucco, Vinyl
- Roof: Composition
- Entry Location: Between buildings
- Fence: Yes
- Fence: Chain Link
- Fencing: Chain Link
- Foundation Details: Slab
- Foundation Details: Slab
- Pool Features: None
- Pool Description: None
- Pool: N/K
- Pool Heat: N/K
- Lot Features: Back Yard, Level with Street, Rectangular Lot, Level, Near Public Transit, No Landscaping, Yard
- Number Of Units: 8
- Land Lease: No
- Land Lease Type: Fee
- Levels: Two
- Water: Public
- Sewer: Public Sewer
- Water Source: Public
- Garage Spaces: 0
- Parking: Yes
- Parking Garage Spaces: 0
- Carport Spaces: 0
- Parking Features: Concrete
- Residential Styles: Res Income 2-4 Units
- Unit Type Units Total: 4
- Unit Type Beds Total: 4
- Unit Type Baths Total: 2
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $1,760
- Unit Type Total Rent: $84,480
- Unit Type Pro Forma: 84480
- Unit Type Type: 1
- Unit Type Units Total: 1
- Unit Type Beds Total: 4
- Unit Type Baths Total: 2
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $1,900
- Unit Type Total Rent: $22,800
- Unit Type Pro Forma: 22800
- Unit Type Type: 2
- Unit Type Units Total: 3
- Unit Type Beds Total: 4
- Unit Type Baths Total: 2
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $1,545
- Unit Type Total Rent: $55,620
- Unit Type Pro Forma: 63360
- Unit Type Type: 3
- Number Of Units Leased: 8
- Rent Controlled: No
- Number Of Buildings: 2
- Number Of Separate Electric Meters: 8
- Number Of Separate Gas Meters: 8
- Number Of Separate Water Meters: 8
- Number With Dishwasher: 8
- Number With Range: 8
- Number With Refrigerator: 8
- Number With Carpet: 8
- Number With Disposal: 8
- Number With Drapes: 8
- Number With Patio: 8
Property History for 642 West 1st Avenue
| Date | Event & Source | Price | Appreciation |
|---|---|---|---|
| Nov 18, 2025 | Price Change CLAW #SN25136861MR | $1,595,000 | — |
| Nov 17, 2025 | Price Change SDMLS #SN25136861 | $1,595,000 | — |
| Sep 17, 2025 | Price Change CLAW #SN25136861MR | $1,675,000 | — |
| Sep 16, 2025 | Price Change SDMLS #SN25136861 | $1,675,000 | — |
| Jul 10, 2025 | Listed (Active) CLAW #SN25136861MR | $1,760,000 | — |
| Jul 8, 2025 | Listed (Active) CRMLS #SN25136861 | $1,760,000 | — |
| Jul 1, 2025 | Listed (Active) SDMLS #SN25136861 | $1,760,000 | — |
| Apr 2, 2015 | Sold SDMLS #CH15068479 | $1,200,000 | — |
| Apr 2, 2015 | Sold CRMLS #CH15068479 | $1,200,000 | — |
| Apr 2, 2015 | Sold CLAW #CH15068479MR | $1,200,000 | — |
| Apr 1, 2015 | Pending CRMLS #CH15068479 | — | |
| Apr 1, 2015 | Listed (Active) CRMLS #CH15068479 | $1,200,000 | — |
| Apr 1, 2015 | Pending CLAW #CH15068479MR | — | |
| Apr 1, 2015 | Listed (Active) SDMLS #CH15068479 | $1,200,000 | — |
| Apr 1, 2015 | Listed (Active) CLAW #CH15068479MR | $1,200,000 | — |
| Mar 13, 2015 | Sold (Public Record) Public Record #496321602 | $1,200,000 | +1.4% / yr |
| Jul 31, 2014 | Withdrawn RESFAR #21007451 | $825,000 | — |
| Feb 3, 2011 | Expired CRMLS #CH200904312 | $850,000 | — |
| Feb 3, 2011 | Expired CLAW #CH200904312MR | — | |
| Jul 30, 2010 | Expired CRMLS #CH201010637 | $825,000 | — |
| Jul 30, 2010 | Expired CLAW #CH201010637MR | — | |
| Mar 17, 2010 | Listed (Active) RESFAR #21007451 | $825,000 | — |
| Mar 15, 2010 | Listed (Active) CLAW #CH201010637MR | $825,000 | — |
| Mar 15, 2010 | Listed (Active) CRMLS #CH201010637 | $825,000 | — |
| Feb 7, 2010 | Expired METROLIST #200904312 | — | |
| Feb 6, 2010 | Expired RESFAR #200904312 | — | |
| May 6, 2009 | Listed (Active) CLAW #CH200904312MR | $850,000 | — |
| May 6, 2009 | Price Change RESFAR #200904312 | $850,000 | — |
| May 6, 2009 | Listed (Active) METROLIST #200904312 | $845,000 | — |
| May 6, 2009 | Listed (Active) RESFAR #200904312 | $845,000 | — |
| May 6, 2009 | Listed (Active) CRMLS #CH200904312 | $850,000 | — |
| Aug 8, 2005 | Sold (Public Record) Public Record #164479196 | $1,050,000 | +5.6% / yr |
| Jun 14, 2002 | Sold (Public Record) Public Record #94238292 | $885,000 | — |
| Date | Event & Source | Price |
|---|---|---|
| 11/18/2025 | Price Change CLAW #SN25136861MR | $1,595,000 |
| 11/17/2025 | Price Change SDMLS #SN25136861 | $1,595,000 |
| 09/17/2025 | Price Change CLAW #SN25136861MR | $1,675,000 |
| 09/16/2025 | Price Change SDMLS #SN25136861 | $1,675,000 |
| 07/10/2025 | Listed (Active) CLAW #SN25136861MR | $1,760,000 |
| 07/08/2025 | Listed (Active) CRMLS #SN25136861 | $1,760,000 |
| 07/01/2025 | Listed (Active) SDMLS #SN25136861 | $1,760,000 |
| 04/02/2015 | Sold SDMLS #CH15068479 | $1,200,000 |
| 04/02/2015 | Sold CRMLS #CH15068479 | $1,200,000 |
| 04/02/2015 | Sold CLAW #CH15068479MR | $1,200,000 |
| 04/01/2015 | Pending CRMLS #CH15068479 | — |
| 04/01/2015 | Listed (Active) CRMLS #CH15068479 | $1,200,000 |
| 04/01/2015 | Pending CLAW #CH15068479MR | — |
| 04/01/2015 | Listed (Active) SDMLS #CH15068479 | $1,200,000 |
| 04/01/2015 | Listed (Active) CLAW #CH15068479MR | $1,200,000 |
| 03/13/2015 | Sold (Public Record) Public Record #496321602 | $1,200,000 +1.4% / yr |
| 07/31/2014 | Withdrawn RESFAR #21007451 | $825,000 |
| 02/03/2011 | Expired CRMLS #CH200904312 | $850,000 |
| 02/03/2011 | Expired CLAW #CH200904312MR | — |
| 07/30/2010 | Expired CRMLS #CH201010637 | $825,000 |
| 07/30/2010 | Expired CLAW #CH201010637MR | — |
| 03/17/2010 | Listed (Active) RESFAR #21007451 | $825,000 |
| 03/15/2010 | Listed (Active) CLAW #CH201010637MR | $825,000 |
| 03/15/2010 | Listed (Active) CRMLS #CH201010637 | $825,000 |
| 02/07/2010 | Expired METROLIST #200904312 | — |
| 02/06/2010 | Expired RESFAR #200904312 | — |
| 05/06/2009 | Listed (Active) CLAW #CH200904312MR | $850,000 |
| 05/06/2009 | Price Change RESFAR #200904312 | $850,000 |
| 05/06/2009 | Listed (Active) METROLIST #200904312 | $845,000 |
| 05/06/2009 | Listed (Active) RESFAR #200904312 | $845,000 |
| 05/06/2009 | Listed (Active) CRMLS #CH200904312 | $850,000 |
| 08/08/2005 | Sold (Public Record) Public Record #164479196 | $1,050,000 +5.6% / yr |
| 06/14/2002 | Sold (Public Record) Public Record #94238292 | $885,000 |
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 642 West 1st Avenue
Schools near 642 West 1st Avenue
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Charter - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Citrus Avenue Elementary School PublicK to 5 | ||
Chico Junior High School Public6 to 8 | ||
Chico High School Public9 to 12 | ||
Inspire School of Arts and Sciences Charter9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of Harris Commercial Real Estate, Brandon Harris, DRE #01318261
Based on information from one of the following Multiple Listing Services: San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.