642 W 1st Ave Chico, CA 95926
Chico Vecino NeighborhoodEstimated payment $9,985/month
Highlights
- 0.45 Acre Lot
- Property is near public transit
- No HOA
- Chico Junior High School Rated A-
- Private Yard
- Laundry Room
About This Home
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.
Listing Agent
Harris Commercial Real Estate Brokerage Phone: 530-828-9289 License #01318261 Listed on: 07/08/2025
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1984
Lot Details
- 0.45 Acre Lot
- Two or More Common Walls
- Chain Link Fence
- No Landscaping
- Rectangular Lot
- Level Lot
- Private Yard
- Back Yard
Home Design
- Apartment
- Entry on the 1st floor
- Slab Foundation
- Composition Roof
- Vinyl Siding
- Plaster
- Stucco
Interior Spaces
- 11,200 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 12 Bedrooms
- 6 Bathrooms
Parking
- Parking Available
- Paved Parking
Location
- Property is near public transit
- Urban Location
Additional Features
- Rain Gutters
- Central Heating and Cooling System
Listing and Financial Details
- Tax Lot 70
- Assessor Parcel Number 043170024000
Community Details
Overview
- No Home Owners Association
- 2 Buildings
- 8 Units
Recreation
- Bike Trail
Building Details
- 8 Leased Units
- 8 Separate Electric Meters
- 8 Separate Gas Meters
- 8 Separate Water Meters
- Gardener Expense $1,800
- Insurance Expense $19,000
- Maintenance Expense $10,500
- Other Expense $1,331
- Pest Control $1,080
- Professional Management Expense $7,800
- Trash Expense $4,110
- New Taxes Expense $19,360
- Operating Expense $64,981
- Gross Income $162,900
- Net Operating Income $97,919
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 11/18/2025 11/18/25 | Price Changed | $1,595,000 | -4.8% | $142 / Sq Ft | |
| 09/17/2025 09/17/25 | Price Changed | $1,675,000 | -4.8% | $150 / Sq Ft | |
| 07/10/2025 07/10/25 | For Sale | $1,760,000 | 0.0% | $157 / Sq Ft | |
| 07/09/2025 07/09/25 | Off Market | $1,760,000 | -- | -- | |
| 07/08/2025 07/08/25 | For Sale | $1,760,000 | +46.7% | $157 / Sq Ft | |
| 04/02/2015 04/02/15 | Sold | $1,200,000 | 0.0% | $104 / Sq Ft | View Prior Sale |
| 04/01/2015 04/01/15 | Pending | -- | -- | -- | |
| 04/01/2015 04/01/15 | For Sale | $1,200,000 | -- | $104 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SN25136861
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Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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