2 Fremont Street Chico, CA 95928

$6,200,000 Active

About the Property

The property is being offered at $6,200,000, and will be delivered with no “section 1” termite or rot repairs of any kind being required. The hardscape, landscaping and apartments show little if any deferred maintenance. The prudent buyer should be able to significantly limit the need for CAPEX in the near term. Chico Meadows offers large 2 Bed/1 Bath apartments in lovely South Chico. Upgraded appliances and fixtures, laminate flooring, and abundant storage make these apartments look and feel luxurious. Everything from shopping, restaurants, gym and recreation are right at your door! With the flexibility of a Month-to-Month lease and easy access to your favorite places, Chico Meadows is a great place to live! Each 2-bedroom apartment features two large bedrooms, with a spacious 905 square foot floor plan. Central heat and air provide a comfortable living apartment, and there is plenty of closet space. 75% of the apartments have been extensively renovated to date, and the renovation included new counters, flooring, and appliances. All bedrooms include ceiling fans. Site amenities include a laundry room, ample covered parking, great proximity to shopping, public transit, the 99 freeway and the Skyway to Paradise. This is an ideal location for those commuting locally and to Paradise, Oroville, Durham, and to Butte College.

Property Information

Size 37,800 SqFt
Price/SqFt $164
Lot Size 1.56 Acres
Year Built 1984
Property Type Residential Income
Listing Number SN25156848
Listed 4/30/2025
Modified 7/12/2025
Listing Agent William Sheridan
Listing Office SFInvest Real Estate
Total Building 4
Total Units 40

Property Features

# Electric Meters
  • 40
# Gas Meters
  • 40
# Units Leased
  • 38
Carport Spaces
  • 40.00
Community Features
  • Suburban
Construction Materials
  • Frame
Cooling
  • Central Air
Electric
  • 220 Volts in Kitchen
Fencing
  • None
Fireplace
  • None
Garage Spaces
  • 0.00
Gross Income
  • 583500.00
Gross Operating Income
  • 583500.00
Gross Scheduled Income
  • 614210.00
Heating
  • Central
Levels
  • Two
Net Operating Income
  • 366749.00
Operating Expense
  • 216751.00
Parking Total
  • 98.00
Pool
  • None
Price Pe rUnit
  • 155000
Roofing
  • Composition
Sewer
  • Public Sewer
StoriesTotal
  • 2
Style
  • Traditional
Total Actual Rent
  • 598500.00
Total Expenses
  • 216751.00
Uncovered Spaces
  • 58.00
Water Source
  • Public
Flooring
  • Carpet
  • Laminate
Appliances
  • Dishwasher
  • Electric Range
  • Refrigerator
  • Water Heater
Interior
  • Balcony
  • Ceiling Fan(s)
  • Formica Counters
  • Quartz Counters
Tenant Pays
  • All Utilities
  • Cable TV
  • Electricity
  • Gas
  • Sewer
Utilities
  • Cable Available
  • Electricity Connected
  • Natural Gas Connected
  • Phone Available
  • Sewer Connected
  • Underground Utilities
  • Water Connected