642 W 1st Avenue, Chico, CA 95926

About this property

College Place | 642 W. 1st Avenue | Prime Chico Multi-Family Investment Opportunity Harris Commercial is pleased to present College Place, an exceptional 8-unit multi-family investment opportunity located at 642 W. 1st Avenue in Chico, California. Ideally situated within walking distance to both California State University, Chico and downtown Chico, this property offers strong existing income, long-term upside, and an unbeatable location. College Place consists of two buildings, each with four large, townhouse-style apartments, all fully leased and 100% occupied. Each 4-bedroom, 2-bath unit is thoughtfully laid out with a downstairs bedroom, bathroom, kitchen, and living area, and three bedrooms and a second bathroom upstairs—a layout perfectly suited for student and group living. One of the units has been completely remodeled, commanding rents approximately 8% higher than the others, providing a clear value-add opportunity for future ownership. Additional highlights include: - Individually metered for electric, gas, and water – a rare and valuable feature that shifts utility costs to tenants - Connected to city sewer and full municipal services - Private fenced patios for each unit - Low-maintenance, professionally redesigned landscaping to minimize ongoing expenses - Fenced common rear yard with bike racks and BBQ area - Professionally managed for many years with stable operations and low vacancy With a desirable unit mix, separate utility metering, professional management, and premium walkability, College Place offers a rare opportunity to acquire a high-performing, easy-to-operate asset in one of Chico’s most sought-after rental markets.

Listing description from the May 2026 sale, as reported to CRMLS.

Sale history

$1,525,000

Sold May 2026 · listed $1,595,000, orig. $1,760,000, on market July 2025 · MLS #SN25136861 · Source: CRMLS

Listing Agent: Brandon Harris · Listing Office: Harris Commercial Real Estate · Contact: 530-828-9289 · Bought with: Calen Chapman · Harris Commercial Real Estate

$1,200,000

Sold April 2015 · on market April 2015 · MLS #CH15068479 · Source: CRMLS

Listing Agent: Jim Aguilar · Listing Office: Century 21 Jeffries Lydon · Contact: 530-345-6618 · Bought with: Sherry Landis · Century 21 Jeffries Lydon

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