615 Rancheria Drive 1-4, Chico, California 95926, Chico, 95926 - 0 bed, 0 bath
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Chico, California 95926
This Prime Residential Income Asset is a High-Potential Investment Opportunity listed at $699,000—positioned well below the $721,855 Fair Market Value by 3%. This strategic pricing provides $22,855 in Instant Equity for the incoming owner. Boasting a Move-In Ready Condition Rating, the units feature modern wood-look laminate flooring and refreshed cabinetry. Situated directly behind California State University, Chico, the property capitalizes on consistent student demand and exceptional walkability to downtown. This turnkey quadruplex is an ideal acquisition for Buy-and-Hold Investors or Portfolio Managers seeking stable cash flow.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 615 Rancheria Drive 1-4 Subject | $699,000* List Price | 0 | 0 | 3,604 | $200 | - |
A 1202 Palm Active | $549,000 List Price | 5 | 3 | 2,240 | $245 | 1.0 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Although built in 1971, the property is move-in ready and features significant interior updates. The units showcase modern wood-look laminate flooring, fresh neutral paint, and refreshed white cabinetry. While some elements like the popcorn ceilings and basic white electric appliances reflect the building's age, the overall condition is well-maintained and functional for a high-demand rental market.
Situated directly behind California State University, Chico, the property is ideally positioned to capture the high-demand student housing market with minimal effort.
The property boasts a proven track record of consistent occupancy and income, making it a reliable 'turn-key' addition to an investment portfolio.
Tenants benefit from being within walking distance to downtown Chico, local dining, shopping, and public transportation, which sustains long-term desirability.
Built in 1971, the property may require more frequent maintenance or capital expenditures for system upgrades compared to newer multifamily builds.
The heavy reliance on the student demographic makes the investment sensitive to university enrollment fluctuations and seasonal vacancy cycles.
Exceptional investment opportunity just steps from California State University, Chico! This well-located fourplex at 615 Rancheria Dr. offers strong rental history and exceptional income potential in one of Chico’s most desirable student housing areas. Situated directly behind Chico State, the property benefits from consistent tenant demand, making it an ideal addition to any investor’s portfolio. The property features [4] units with a functional and modern layout, providing steady income potential and opportunity for future upside. Tenants will appreciate the proximity to campus, downtown Chico, local dining, shopping, and public transportation. The location alone ensures high occupancy and long-term desirability. Whether you’re a seasoned investor or looking to get started in multifamily real estate, this is a rare chance to own a property in a prime Chico rental market. Don’t miss the opportunity to capitalize on location, demand, and growth potential.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 3,604 | 2,882 | 50% |
| Lot Size | 9,148 | 10,890.2 | 33% |
| Price | $699.0K | $609.5K | 50% |
| Price per sq ft | $194 | $199 | 50% |
| Built year | 1971 | 1963 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 9 | 132 | 17% |
Apr 13, 2026
$699,000
Initial Listing
Nov 17, 2023
$585,000
Public Record
Aug 4, 2006
$470,000
Public Record
Apr 26, 2005
$415,000
Public Record