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615 E Rancheria Drive, 
Chico, CA 95926

$699,000


8

Beds


4

Baths


3,604

Sq Ft


Multi-Family

Pending

Listed by

Elijah Simmons

Nex Gen Real Estate

Last updated:

May 30, 2026, 07:28 AM

MLS#

226040537

Source:

CABAREIS

About This Home

615 E Rancheria Drive

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.

Home Facts

Multi-Family

4 Baths

8 Bedrooms

Built in 1971

Price Summary

699,000

$193 per Sq. Ft.

MLS #:

226040537

Last Updated:

May 30, 2026, 07:28 AM


Rooms & Interior

Bedrooms

Total Bedrooms:

8

Bathrooms

Total Bathrooms:

4

Full Bathrooms:

4

Interior

Living Area:

3,604 Sq. Ft.


Structure

Structure

Architectural Style:

Contemporary, Traditional

Building Area:

3,604 Sq. Ft.

Year Built:

1971


Lot

Lot Size (Sq. Ft):

9,148


Finances & Disclosures

Finances

Price:

$699,000

Price per Sq. Ft:

$193 per Sq. Ft.

Source:CABAREIS
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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.