Well-maintained 4-unit investment property located just minutes from Chico State University, offering strong income history and excellent long-term upside. Each unit features a functional layout with consistent tenant demand in a highly desirable rental pocket near campus, shopping, and public transportation. The property has an ability to generate $6,000+/month in rental income, making it an attractive opportunity for both seasoned investors and owner-occupants looking to offset living expenses. With a projected cap rate of approximately 7.2%, this asset delivers solid cash flow with potential for future rent growth. Situated in a prime location known for stable occupancy and high rental demand, this property presents a rare opportunity to acquire a performing multifamily asset in the Chico market. Ideal for investors seeking immediate income with additional upside potential. Buyer to verify all information including income, expenses, and property details.
Closed
$657,500
615 E Rancheria Drive, Chico, CA 95926
8beds
3,600sqft
Quadruplex
Built in 1971
-- sqft lot
$682,100 Zestimate®
$183/sqft
$1,392 Estimated rent
Home value
$682,100
$648,000 - $716,000
$1,392/mo
Zestimate® history
Owner options
List your home for rent
$1,392/mo
Rent Zestimate®
Find your next renter with Zillow Rental Manager. Plus, with online applications, you can quickly screen prospective tenants – for free.
$1,392/mo
Rent Zestimate®
Refinance and save
$4,102/mo
Est. payment
Refinancing to a lower rate could help reduce your monthly payments and save thousands over the life of the loan.
$4,102/mo
Est. payment
Explore your selling options
Work with a Zillow partner agent
Leverage their expertise and Zillow's premium Showcase listings to get your home seen by more buyers.
Get startedList with your own agent
Get your home in front of millions of buyers by listing it on Zillow.
Learn how to do itSell it yourself
Take full control of how buyers see your home on Zillow by listing For Sale by Owner (FSBO).
List your homeWhat's special
Functional layout
Zillow last checked:
Listing updated:
Listed by:
Elijah Simmons DRE #02215373,
Nex Gen Real Estate 916-666-0360
Bought with:
Non-member 999999
Non-member Office
Source: BAREIS,MLS#: 226040537
Originating MLS: Northern Solano
Originating MLS: Northern SolanoFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 4
- Full bathrooms: 4
Heating
- Central
Cooling
- Window Unit(s), Central Air, Ceiling Fan(s)
Appliances
- Included: Free-Standing Electric Range, Free-Standing Electric Oven, Electric Cooktop, Disposal, Microwave, Dishwasher, Gas Water Heater, Free-Standing Refrigerator
- Laundry: Other
Features
- Unit 1 - Beds: 0, Baths: 0, Square Footage: 3604 | Unit 2 - Beds: 8, Baths: 4, Square Footage: 3600 | Unit 3 - Beds: 0, Baths: 0, Square Footage: 3604 | Unit 4 - Beds: 0, Baths: 0, Square Footage: 3604
- Flooring: Luxury Vinyl Plank, Carpet
- Windows: Screens, Window Coverings
Interior area
- Total structure area: 3,600
- Total interior livable area: 3,600 sqft
Property
Parking
- Total spaces: 6
- Parking features: Uncovered
- Uncovered spaces: 6
Accessibility
- Accessibility features: None
Features
- Levels: Two
- Stories: 2
- Patio & porch: Enclosed, Balcony/Deck
- Has view: Yes
- View description: City
Lot
- Size: 9,147 sqft
- Features: Landscape Front, Sidewalk, Curbs/Gutters
Details
- Parcel number: 043180031000
- Zoning: Residential
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Traditional,Contemporary
- Property subtype: Quadruplex
Materials
- Wood Siding, Wood, Glass, Concrete
- Foundation: Slab
- Roof: Shingle
Condition
- Year built: 1971
Utilities & green energy
- Electric: Separate Meters
- Sewer: Septic Tank
- Water: Public
- Utilities for property: Natural Gas Connected, Internet Available, Electricity Connected, Cable Available
Community & neighborhood
Security
- Security features: Security Lights, Smoke Detector(s), Fire Extinguisher, Carbon Monoxide Detector(s)
Location
- Region: Chico
HOA & financial
HOA
- Has HOA: No
Price history
| Date | Event | Price |
|---|---|---|
| 6/24/2026 | Sold | $657,500-5.9%$183/sqft |
Source:  BAREIS #226040537 Report a problem | ||
| 5/8/2026 | Pending sale | $699,000$194/sqft |
Source: BAREIS #226040537 Report a problem | ||
| 4/13/2026 | Listed for sale | $699,000-0.1%$194/sqft |
Source: BAREIS #226040537 Report a problem | ||
| 10/7/2025 | Listing removed | $700,000$194/sqft |
Source:  NextHome #SN25173083 Report a problem | ||
| 8/15/2025 | Listed for sale | $700,000+19.7%$194/sqft |
Source: NextHome #SN25173083 Report a problem | ||
| 9/13/2024 | Listing removed | $1,450 |
Source: Zillow Rentals Report a problem | ||
| 6/22/2024 | Listed for rent | $1,450 |
Source: Zillow Rentals Report a problem | ||
| 6/21/2024 | Listing removed | -- |
Source: Zillow Rentals Report a problem | ||
| 6/11/2024 | Listed for rent | $1,450 |
Source: Zillow Rentals Report a problem | ||
| 6/11/2024 | Listing removed | -- |
Source: Zillow Rentals Report a problem | ||
| 12/4/2023 | Price change | $1,450-19.4% |
Source: Zillow Rentals Report a problem | ||
| 11/27/2023 | Listed for rent | $1,800$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 11/17/2023 | Sold | $585,000+24.5%$163/sqft |
Source: Public Record Report a problem | ||
| 8/4/2006 | Sold | $470,000+13.3%$131/sqft |
Source: Public Record Report a problem | ||
| 4/26/2005 | Sold | $415,000$115/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $3,988 +8.3% | $596,644 +2% |
| 2024 | $3,684 -45.5% | $585,000 -3.3% |
| 2023 | $6,762 -15.4% | $604,659 +12.8% |
| 2022 | $7,997 +7.6% | $536,000 +10.5% |
| 2021 | $7,431 +4.7% | $485,000 +7.3% |
| 2020 | $7,101 +0.1% | $452,000 |
| 2019 | $7,097 +10.4% | $452,000 +15.3% |
| 2018 | $6,426 +43.1% | $392,000 |
| 2017 | $4,489 +19.3% | $392,000 +11.4% |
| 2016 | $3,762 +14.6% | $352,000 +7.6% |
| 2015 | $3,283 | $327,000 +8.3% |
| 2014 | $3,283 | $302,000 +17.5% |
| 2013 | -- | $257,000 +21.2% |
| 2012 | -- | $212,000 -32.1% |
| 2011 | -- | $312,000 -19.4% |
| 2010 | -- | $387,000 |
| 2009 | -- | $387,000 -19.3% |
| 2008 | -- | $479,360 +2% |
| 2007 | -- | $470,000 +11% |
| 2006 | -- | $423,280 +104.4% |
| 2005 | -- | $207,063 +2% |
| 2004 | -- | $203,024 +1.9% |
| 2003 | -- | $199,322 +2% |
| 2002 | -- | $195,434 +2.5% |
| 2001 | -- | $190,623 |
Find assessor info on the county website
Neighborhood: The Avenues
Nearby schools
GreatSchools rating
- 6/10Citrus Avenue Elementary SchoolGrades: K-5Distance: 0.4 mi
- 7/10Chico Junior High SchoolGrades: 6-8Distance: 0.7 mi
- 7/10Chico High SchoolGrades: 9-12Distance: 0.5 mi
Schools provided by the listing agent
- District: Chico Unified
Source: BAREIS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
Get pre-qualified for a loan
At Zillow Home Loans, we can pre-qualify you in as little as 5 minutes with no impact to your credit score.An equal housing lender. NMLS #10287.
- California
- Butte County
- Chico
- 95926
- The Avenues
- 615 E Rancheria Drive
Nearby cities
Nearby neighborhoods
Nearby zip codes
Other Chico Topics
