827 W 2nd Avenue, Chico, California 95926, Chico, 95926 - 0 bed, 0 bath
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827 W 2nd Avenue
Chico, California 95926
ACTIVE
CONDITION: FAIR
0Beds
0Baths
1,462Sq Ft
8,276Lot Size
Property Price
LIST PRICE$399,000
EST. MARKET VALUE
$411,351
3% BelowMARKET VALUE
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $399,000—positioned well below the $411,351 Fair Market Value by 3%. This valuation gap offers $12,351 in Instant Equity. Featuring R-3 Zoning and a spacious 8,276 sqft lot, the property offers significant development upside for an ADU or multi-family configuration. With a Condition Rating of 4, the home is move-in ready with solar, making it an ideal asset for Buy-and-Hold Investors or Owner-Occupants seeking rental income.
Estimated Market Value
$411,351+$12,351 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Chico.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 827 W 2nd Avenue Subject 0 bd · 0 ba · 1,462 sqft · $281 | $399,000* List Price | 0 | 0 | 1,462 | $281 | - |
A 1609 Citrus Sold 3 bd · 2 ba · 1,322 sqft · $302 · 0.5 mi | $399,000 | 3 | 2 | 1,322 | $302 | 0.5 mi |
B 432 W 6th Sold 2 bd · 1 ba · 1,256 sqft · $312 · 0.5 mi | $392,000 | 2 | 1 | 1,256 | $312 | 0.5 mi |
C 1617 Arcadian Sold 2 bd · 2 ba · 1,234 sqft · $284 · 0.6 mi | $350,000 | 2 | 2 | 1,234 | $284 | 0.6 mi |
D 1063 Arcadian Avenue Sold 2 bd · 1 ba · 1,068 sqft · $354 · 0.5 mi | $378,500 | 2 | 1 | 1,068 | $354 | 0.5 mi |
E 1224 Spruce Sold 3 bd · 2 ba · 1,431 sqft · $332 · 1.0 mi | $475,000 | 3 | 2 | 1,431 | $332 | 1.0 mi |
F 511 Sequoyah Avenue Sold 3 bd · 2 ba · 1,666 sqft · $291 · 0.9 mi | $484,000 | 3 | 2 | 1,666 | $291 | 0.9 mi |
G 548 W 4th Avenue Active 0 bd · 0 ba · 1,561 sqft · $262 · 0.3 mi | $409,000 List Price | 0 | 0 | 1,561 | $262 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1962, the property is well-maintained but dated. The kitchen features oak cabinetry and finishes consistent with a renovation from 20+ years ago. While the home is move-in ready with a newer roof and solar, the interior aesthetics and systems require updates to meet modern standards.
PROSSTRENGTHS & OPPORTUNITIES
- High Available Lot Utilization
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8276, living area = 1462.
- Prime Investment Location
Situated within walking distance to Chico State, this property offers exceptional rental demand and strong income potential, with estimated monthly rents reaching up to $2,500.
- High-Density Development Potential
The R-3 zoning and generous 8,276 sqft lot provide a rare opportunity for value-add expansion, including the potential for an ADU, duplex, or multi-family configuration.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1462, other record living area = 1162.
- Vintage Infrastructure
Built in 1962, the property may feature older internal systems that could require modernization or maintenance compared to newer construction.
- Development Due Diligence
While zoned R-3, the feasibility of multi-family expansion is subject to city verification of setbacks, utility capacity, and permitting, which adds complexity for developers.
About 827 W 2nd Avenue
CHICO STATE INVESTMENT OPPROTUNITY! Opportunity awaits at 827 W. 2nd Avenue! Conveniently located near Chico State, this well-maintained property offers an appealing combination of immediate rental potential and exciting possibilities for the future. The existing home features a newer roof, fresh exterior paint, and a clean, move-in-ready presentation. Solar helps reduce electricity costs for occupants, adding another attractive feature for tenants. With estimated rental potential of approximately $2,300–$2,500 per month, this property could be an excellent addition to an investment portfolio or a smart option for parents purchasing housing for a Chico State student. What truly sets this property apart is the spacious backyard and R-3 zoning. The generous lot presents an opportunity to explore additional residential development, potentially including an ADU, duplex, or other multifamily configuration. A previous owner even explored plans for a triplex. Whether you're looking for rental income today, housing for a college student, or a property with longer-term investment possibilities, 827 W. 2nd Avenue deserves a closer look. Buyers should independently verify zoning, permitted uses, development capacity, utilities, setbacks, and all requirements with the City of Chico. Rental figures are estimates and are not guaranteed.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1962
- Lot Size
- 8,276 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 3.0 |
| Baths | 0.0 | 2.0 |
| Square foot | 1,462 | 1,720.576 |
| Lot Size | 8,276 | 7,994.042 |
| Price | $399.0K | $487.0K |
| Price per sq ft | $273 | $303 |
| Built year | 1962 | 1992 |
| HOA | $0 | $154 |
| Days on market | 12 | 56 |
Pricing History
Listed for Sale
Oct 12, 2026
$399,000
Initial Listing
Sold
Oct 30, 2020
$324,000
Public Record
Sold
Jan 18, 2019
$280,000
Public Record
Sold
Oct 25, 2016
$235,000
Public Record
Sold
May 8, 2009
$157,500
Public Record