703 W 2nd Ave

$1,050,000
Price
4
Beds
8
Baths
4,800 Sq. Ft.
$219 / Sq. Ft.
4,800
Sq. Ft.
$219
per Sq. Ft.

Description

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...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.
  1. Listed by Spencer Moyer • DRE #01940191 • Brokerage DRE #02126212 • Alive Commercial Real Estate • 8589224181

Property Details for 703 West 2nd Avenue

Parking Spaces Total
0
Private Pool
No
Cooling Type
Central Air
Total Units
4.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
4800
Assessor Parcel Number
043170002000
LISTING UPDATED: 11/05/2025 05:34 AM

Property Details for 703 West 2nd Avenue

StatusActive
MLS #SN25249748
Days on Compass44
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1983
Lot Size0.45 AC / 19,602 SF
CountyButte County

Location

Listing Courtesy of Alive Commercial Real Estate, Spencer Moyer, DRE #01940191
Add your commute

Building Information for 703 West 2nd Avenue

Stories1Residences-Year Built1983Building Size-Lot Size0.45 AC / 19,602 SF

Payment Calculator

$6,169 per month

30 year fixed, 6.28% Interest

Principal and Interest

$5,188

Property Taxes

$981

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 703 West 2nd Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $5,602
  • Gross Scheduled Income: $100,320
  • Vacancy Allowance Rate: 5
  • Gross Operating Income: $100,906
  • Net Operating Income: $60,297
  • Laundry Income: $1,200
  • Other Income Description: Utility Reimbursement
  • Other Income 1: $4,402
Expense Details
  • Operating Expense: $40,609
  • Gardener Expense: $3,960
  • Electric Expense: $3,745
  • Insurance Expense: $4,000
  • Maintenance Expense: $4,800
  • Professional Management Expense: $5,045
  • Other Expense: $2,746
  • Other Expense Description: Marketin
  • Trash Expense: $1,423
  • Water Sewer Expense: $3,160
  • Total Expenses: $40,609
Tax / Assessment Info
  • CFD/Mello-Roos Fee: $0
  • Taxes Percent: 1.10%
  • Tax Lot: 47
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Buyer to Verify
  • Community Features: Biking, Sidewalks, Suburban
Property / Structure Info
Interior Features
  • Appliances: Electric Range
  • Equipment: Laundry Area
  • Interior Features: Ceiling Fan(s)
  • Laundry: Yes
  • Laundry Features: Common Area
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: Central Air
  • Heating Type: Central
  • Heating: Central
  • Flooring Type: Laminate
  • Flooring: Laminate
Exterior Features
  • Entry Location: Front Door
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Pool Heat: N/K
Land/Lot Info
  • Lot Features: 6-10 Units/Acre
  • Number Of Units: 4
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: One
  • Water: Public
  • Sewer: Septic Type Unknown
  • Utilities: Electricity Connected, Natural Gas Connected, Other, Water Connected
  • Electric: 220 Volts, Electricity - On Property
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Property / Structure Info
  • Residential Styles: Res Income 2-4 Units
Unit Information
Unit 1
  • 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: $8,360
  • Unit Type Total Rent: $8,360
  • Unit Type Pro Forma: 8950
  • Unit Type Type: 1
Unit Information
  • Number Of Units Leased: 4
  • Rent Controlled: Yes
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 0

Property History for 703 West 2nd Avenue

DateEvent & SourcePriceAppreciation
Oct 29, 2025

Listed (Active)

CRMLS #SN25249748

$1,050,000
Oct 29, 2025

Listed (Active)

SDMLS #SN25249748

$1,050,000
Oct 29, 2025

Listed (Active)

CLAW #SN25249748MR

$1,050,000
Mar 27, 2020

Sold

CLAW #SN20006539MR

$930,000
Mar 27, 2020

Sold

SDMLS #SN20006539

$930,000
Mar 27, 2020

Sold

CRMLS #SN20006539

$930,000
Feb 28, 2020

Sold (Public Record)

Public Record #666206997

$930,000

+123.4% / yr

Feb 16, 2020

Pending

CRMLS #SN20006539

Feb 16, 2020

Pending

CLAW #SN20006539MR

Jan 9, 2020

Listed (Active)

CRMLS #SN20006539

$955,000
Jan 9, 2020

Listed (Active)

CLAW #SN20006539MR

$955,000
Jan 9, 2020

Listed (Active)

SDMLS #SN20006539

$955,000
May 31, 2019

Sold (Public Record)

Public Record #645842393

$510,000

+7.4% / yr

Aug 25, 2015

Sold (Public Record)

Public Record #556160127

$390,000

+9.1% / yr

Jun 29, 2006

Sold

METROLIST #200602565

$570,000
Jun 29, 2006

Sold

RESFAR #200602565

$570,000
Jun 26, 2006

Sold (Public Record)

Public Record #199726309

$175,454

-15.7% / yr

May 16, 2006

Pending

RESFAR #200602565

May 16, 2006

Pending

METROLIST #200602565

Apr 20, 2006

Listed (Active)

RESFAR #200602565

$599,000
Apr 20, 2006

Listed (Active)

METROLIST #200602565

$599,000
Jan 22, 2003

Sold (Public Record)

Public Record #107285080

$315,000
DateEvent & SourcePrice
10/29/2025

Listed (Active)

CRMLS #SN25249748

$1,050,000
10/29/2025

Listed (Active)

SDMLS #SN25249748

$1,050,000
10/29/2025

Listed (Active)

CLAW #SN25249748MR

$1,050,000
03/27/2020

Sold

CLAW #SN20006539MR

$930,000
03/27/2020

Sold

SDMLS #SN20006539

$930,000
03/27/2020

Sold

CRMLS #SN20006539

$930,000
02/28/2020

Sold (Public Record)

Public Record #666206997

$930,000

+123.4% / yr

02/16/2020

Pending

CRMLS #SN20006539

02/16/2020

Pending

CLAW #SN20006539MR

01/09/2020

Listed (Active)

CRMLS #SN20006539

$955,000
01/09/2020

Listed (Active)

CLAW #SN20006539MR

$955,000
01/09/2020

Listed (Active)

SDMLS #SN20006539

$955,000
05/31/2019

Sold (Public Record)

Public Record #645842393

$510,000

+7.4% / yr

08/25/2015

Sold (Public Record)

Public Record #556160127

$390,000

+9.1% / yr

06/29/2006

Sold

METROLIST #200602565

$570,000
06/29/2006

Sold

RESFAR #200602565

$570,000
06/26/2006

Sold (Public Record)

Public Record #199726309

$175,454

-15.7% / yr

05/16/2006

Pending

RESFAR #200602565

05/16/2006

Pending

METROLIST #200602565

04/20/2006

Listed (Active)

RESFAR #200602565

$599,000
04/20/2006

Listed (Active)

METROLIST #200602565

$599,000
01/22/2003

Sold (Public Record)

Public Record #107285080

$315,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 703 West 2nd Avenue

Taxable ValueLand$273,408Additions$743,443Total$1,016,851
Tax Record2025$11,769 ($981 / month)
Home Facts
Baths1Total Finished SqFt840 SqFtAbove Grade Finished SqFt840 SqFtStories1Lot Size19,602 SqFtStyleMulti-Family Dwelling (2-4)Year Built1983ZoningR3CountyBUTTEAPN043-170-002-000Fireplace TypeHas Fireplace

Schools near 703 West 2nd Avenue

This home is within Chico Unified School District.
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.

Similar Homes

Similar Sold Homes

703 West 2nd Avenue is a multi-family home for sale in Chico, CA 95926. This property was listed for sale on October 29, 2025 by Alive Commercial Real Estate, it's currently listed at $1,050,000. It has been on the market for a total of 44 days and was last sold on March 27, 2020. This listing's school district is Chico Unified School District. Nearby schools include Citrus Avenue Elementary School, Chico Junior High School and Chico High School. 703 West 2nd Avenue is a 4-bed, 8-bath, 4,800 sqft multi-family home built in 1983.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Alive Commercial Real Estate, Spencer Moyer, DRE #01940191

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.