721 W 11th St - Apartments FOR SALE


Chico, CA 95928
$16,750,000 USD
858-922-4181
721 W 11th St, Chico, CA for Sale
$16,750,000 USD
Apartments - FOR SALE
1/21
null | 7.13% Cap Rate

721 W 11th St
Chico, CA 95928


HIGHLIGHTS

  • All 2026/2027 School Year Leases Have Been Signed by December, a Recurring 20 Year Trend of Being Fully Leased by Winter of the Subsequent School Year
  • Day One 7.13% CAP Rate
  • All 2026/2027 School Year Leases Signed at $3,300/Month
  • Attractive Going-In Yield Supported by a Long-Standing History of Year-Over- Year Rent Growt
  • Gated, Low-Density Community Situated on 3 Acres, Offering a Serene Setting Complemented by Best-in-Class Amenities.
  • True Pride of Ownership Asset Featuring Significant Capital Reinvestment by Current Ownership.

OVERVIEW

ALIVE Commercial Real Estate is excited to present Creekside Manor Apartments, a premier student housing community conveniently located within walking distance of California State University, Chico. Built in 1989, the 44-unit community consists of with (43) four-bedroom two-bathroom and (1) two-bedroom two-bathroom floor plans, showcasing modern finishes and exceptional amenities. Creekside's appealing proximity, just 0.7 miles from campus, combined with its stylish finishes and desirable community amenities, make it the undisputed #1 choice for underclassman at CSUC. While most student communities complete their renewal/pre-leasing for subsequent school years in spring, Creekside has created a reputation of the "go-to" community, specifically for sophomores, and have been 100% pre-leased by early winter for nearly 20 years. Every unit has been thoughtfully renovated with updated kitchen appliances, tile flooring, modern cabinetry, and in-unit washer/dryers. These improvements have created a true ‘pride of ownership’ community, well-positioned to capitalize on rising enrollment and rent growth without the need for major additional capital investment. Creekside has a brand that stands out in a market characterized by a sluggish pipeline for purpose-built student housing (PBSH), with no new inventory currently underway. Additionally, the 560-unit dormitory "Whitney Hall" is offline with no plans to reopen in the near future. These favorable supply-and-demand dynamics suggest strong long-term rent growth and stability for the next savvy owner.

FOR SALE DETAILS

PRICE

$16,750,000 USD

PRICE/SF

$245 USD /SF

# OF UNITS

44

PRICE/UNIT

$380,682

CAP RATE

7.13%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Creekside Manor Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1988

PARKING SPACES

-

LAND DETAILS

LAND ACRES

3.96 AC

LAND SF

172,498 SF

ZONING

R3 L100

APN/PARCEL ID

039-400-046-000

ASK ABOUT THIS PROPERTY

Spencer MoyerALIVE Commercial Real EstateMore Info
858-922-4181

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Spencer MoyerALIVE Commercial Real EstateMore Info
858-922-4181

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.