Lacey Nichols
Responds Quickly
Century 21 Select Real Estate Inc
(346) 450-6028
20 Total Sales
1 in Chico Vecino
$465,000 Price
703 W 2nd Ave Chico, CA 95926
Chico Vecino Neighborhood
4
Beds
2
Baths
4,800
Sq Ft
0.45
Acre Lot
Highlights
- 0.45 Acre Lot
- No HOA
- Ceiling Fan
- Chico Junior High School Rated A-
- Central Heating and Cooling System
- Bike Trail
About This Home
As of April 2026Welcome 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.
Last Agent to Sell the Property
Alive Commercial Real Estate Brokerage Phone: 8589224181 License #01940191 Listed on: 10/29/2025
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Property Details
Home Type
- Multi-Family
Year Built
- Built in 1983
Lot Details
- 19,602 Sq Ft Lot
- 1 Common Wall
- Density is 6-10 Units/Acre
Home Design
- Quadruplex
- Entry on the 1st floor
Interior Spaces
- 4,800 Sq Ft Home
- 1-Story Property
- Ceiling Fan
- Laminate Flooring
- Electric Range
Bedrooms and Bathrooms
- 4 Bedrooms
- 2 Bathrooms
Location
- Suburban Location
Utilities
- Central Heating and Cooling System
- 220 Volts
- Natural Gas Connected
- Septic Type Unknown
Listing and Financial Details
- Tax Lot 47
- Assessor Parcel Number 043170002000
Community Details
Overview
- No Home Owners Association
- 2 Buildings
- 4 Units
Amenities
- Laundry Facilities
Recreation
- Bike Trail
Building Details
- 4 Leased Units
- Rent Control
- 4 Separate Electric Meters
- 4 Separate Gas Meters
- Electric Expense $3,745
- Gardener Expense $3,960
- Insurance Expense $4,000
- Maintenance Expense $4,800
- Other Expense $2,746
- Professional Management Expense $5,045
- Trash Expense $1,423
- Water Sewer Expense $3,160
- Operating Expense $40,609
- Gross Income $5,602
- Net Operating Income $60,297
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Chico Vecino, CA
-
Lacey Nichols
-
Lora Trenner
Lora Trenner
Re/Max Home and Investment
(530) 767-4094
116 Total Sales
5 in Chico Vecino
$310K - $775K Price Range
-
Heather Boer
Heather Boer
EXP of Northern Ca- Willows
(530) 767-4290
134 Total Sales
4 in Chico Vecino
$285K - $420K Price Range
-
Jacob Darr
Jacob Darr
NextHome North Valley Realty
(530) 767-3889
112 Total Sales
1 in Chico Vecino
$549,000 Price
-
Kelly McCarthy
Kelly McCarthy
eXp Realty of California Inc.
(530) 734-2744
311 Total Sales
1 in Chico Vecino
$410,000 Price
-
Jose Flores
Jose Flores
Real Estate Solutions
(916) 282-2437
19 Total Sales
1 in Chico Vecino
$560,000 Price
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $975,000 | Placer Title | ||
| Mrr Property Ca 703 W 2Nd Ave Llc | -- | None Available | |
| Mrr Property Ca 703 W 2Nd Avenue Llc | $930,000 | Bidwell Title And Escrow Co | |
| 703 W 2Nd Ave Partnership Llc | $510,000 | Mid Valley Title & Escrow Co | |
| Stairways Programming | -- | Mid Valley Title & Escrow Co | |
| Stairways Programming | $390,000 | Mid Valley Title & Escrow Co | |
| Sterling Bank & Trust Fsb | $429,960 | None Available | |
| Cook Wayne Allen | -- | None Available | |
| Little Michael W | -- | Mid Valley Title & Escrow Co | |
| Cook Wayne Allen | -- | Mid Valley Title & Escrow Co | |
| Wright Jean F | -- | -- | |
| Wright Jean F | -- | Fidelity Natl Title Co Of Ca | |
| Wright Jean F | $550,000 | Fidelity National Title Co | |
| Stanley Eric A | -- | -- | |
| Stanley Eric A | $315,000 | Bidwell Title & Escrow Co |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | $925,000 | ||
| Previous Owner | 703 W 2Nd Ave Partnership Llc | $310,000 | |
| Previous Owner | Stairways Programming | $500,000 | |
| Previous Owner | Club Stairways | $80,000 | |
| Previous Owner | Club Stairways | $17,000 | |
| Previous Owner | Litle Michael W | $58,000 | |
| Previous Owner | Little Michael W | $400,000 | |
| Previous Owner | Wright Jean F | $405,000 | |
| Previous Owner | Stanley Eric A | $250,000 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 04/02/2026 04/02/26 | Sold | $975,000 | 0.0% | $203 / Sq Ft | |
| 02/25/2026 02/25/26 | Off Market | $1,950 | -- | -- | |
| 01/21/2026 01/21/26 | Price Changed | $1,950 | 0.0% | $2 / Sq Ft | |
| 01/13/2026 01/13/26 | Pending | -- | -- | -- | |
| 12/11/2025 12/11/25 | Price Changed | $2,075 | 0.0% | $2 / Sq Ft | |
| 12/11/2025 12/11/25 | For Rent | $2,075 | 0.0% | -- | |
| 10/29/2025 10/29/25 | For Sale | $1,050,000 | 0.0% | $219 / Sq Ft | |
| 08/18/2025 08/18/25 | Off Market | $1,895 | -- | -- | |
| 03/11/2025 03/11/25 | Price Changed | $1,895 | -2.8% | $2 / Sq Ft | |
| 03/07/2025 03/07/25 | Price Changed | $1,950 | +23.8% | $2 / Sq Ft | |
| 02/26/2025 02/26/25 | For Rent | $1,575 | 0.0% | -- | |
| 08/23/2022 08/23/22 | For Rent | $1,575 | 0.0% | -- | |
| 03/27/2020 03/27/20 | Sold | $930,000 | -2.6% | $179 / Sq Ft | View Prior Sale |
| 02/16/2020 02/16/20 | Pending | -- | -- | -- | |
| 01/09/2020 01/09/20 | For Sale | $955,000 | -- | $184 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2026 | $11,769 | $1,037,137 | $278,876 | $758,261 |
| 2025 | $11,769 | $1,016,851 | $273,408 | $743,443 |
| 2024 | $11,056 | $994,463 | $268,048 | $726,415 |
| 2023 | $10,926 | $977,465 | $262,793 | $714,672 |
| 2022 | $10,752 | $958,349 | $257,641 | $700,708 |
| 2021 | $10,550 | $939,608 | $252,590 | $687,018 |
| 2020 | $5,709 | $502,504 | $306,000 | $196,504 |
| 2019 | $5,090 | $446,870 | $212,241 | $234,629 |
| 2018 | $4,955 | $434,356 | $208,080 | $226,276 |
| 2017 | $4,863 | $423,100 | $204,000 | $219,100 |
| 2016 | $4,450 | $415,300 | $200,000 | $215,300 |
| 2015 | $4,623 | $425,300 | $175,000 | $250,300 |
| 2014 | $6,489 | $602,000 | $150,000 | $452,000 |
Source: Public Records
Agents Affiliated with this Home
-
Spencer Moyer
Seller's Agent in 2026
Spencer Moyer
Alive Commercial Real Estate
(858) 922-4181
4 in this area
7 Total Sales
-
Jose Valerio-Martinez
JV
Buyer's Agent in 2026
Jose Valerio-Martinez
Better Choice Real Estate
(530) 230-7536
1 in this area
28 Total Sales
-
JA
Seller's Agent in 2020
Jim Aguilar
Century 21 Select Real Estate, Inc.
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SN25249748
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
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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