929 Nord Ave, Chico, CA 95926 For Sale

ALIVE Commercial Real Estate is excited to present Gateway Apartments, a student housing community conveniently located within walking distance of California State University, Chico. Built in 1987, the 158 bedroom community consists of with (39) four-bedroom two-bathroom and (1) two-bedroom two-bathroom floor plans, showcasing modern finishes and exceptional amenities. Gateway’s appealing proximity—just 0.3 miles from campus—combined with its stylish finishes and desirable community amenities, make it a sought-after choice for students. Over the past six years, every unit has been thoughtfully renovated with updated kitchen appliances, faux-wood 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. Gateway 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.