615 Rancheria Drive Chico, CA 95926

$700,000 Active

About the Property

Come check out your next Incredible investment opportunity just steps from Chico State University and vibrant downtown Chico. These updated apartment units are move-in ready — featuring new flooring, fresh paint, and select new appliances. Off-street parking adds convenience, and the unbeatable location makes these units ideal for student housing. All units are currently vacant, making this a perfect opportunity to set market rents right in time for the new school year. Don’t miss your chance to own income-producing property in one of Chico’s most in-demand rental areas!

Property Information

Size 3,604 SqFt
Price/SqFt $194
Lot Size 0.21 Acres
Year Built 1971
Property Type Residential Income
Zoning R3
Listing Number SN25173083
Listed 8/15/2025
Modified 8/17/2025
Listing Agent Brent McCarthy
Listing Office NextHome North Valley Realty
Total Building 1
Total Units 4

Property Features

# Electric Meters
  • 4
# Units Leased
  • 0
# Water Meters
  • 1
Garage Spaces
  • 0.00
Gross Income
  • 63000.00
Gross Scheduled Income
  • 63000.00
Heating
  • Central
Levels
  • Two
Net Operating Income
  • 5250.00
Operating Expense
  • 750.00
Pool
  • None
Price Pe rUnit
  • 175000
Sewer
  • Conventional Septic
StoriesTotal
  • 2
Tenant Pays
  • All Utilities
Total Expenses
  • 7500.00
Water Source
  • Public
Community Features
  • Sidewalks
  • Storm Drains