| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Best |
| Demographics | 54th | Good |
| Amenities | 29th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1200 Park Ave, Chico, CA, 95928, US |
| Region / Metro | Chico |
| Year of Construction | 2006 |
| Units | 107 |
| Transaction Date | 2003-03-14 |
| Transaction Price | $900,000 |
| Buyer | 1200 PARK AVENUE LP |
| Seller | HLS |
1200 Park Ave Chico Multifamily Investment
This 107-unit property in Chico's Urban Core benefits from exceptional neighborhood occupancy at 99.1%, ranking in the top quartile nationally according to CRE market data from WDSuite.
This Urban Core neighborhood ranks 21st among 74 metro neighborhoods with a B+ rating, supported by strong fundamentals that appeal to commercial real estate investors. The area maintains 99.1% occupancy, ranking in the 94th percentile nationally, while 75.9% of housing units are renter-occupied - the second-highest rate in the metro. Built in 2006, this property offers newer construction compared to the neighborhood average of 1943, potentially reducing near-term capital expenditure needs.
Demographics within a 3-mile radius show a young renter base with 44% of the population aged 18-34, supporting sustained rental demand. The area attracts residents with 24.9% holding bachelor's degrees, ranking in the 73rd percentile nationally. Median household income of $61,231 has grown 117% over five years, though rent-to-income ratios remain manageable at 0.27.
The neighborhood demonstrates rental market strength with median contract rents of $1,373 ranking 12th metro-wide and 73rd percentile nationally. Property crime has declined 54% year-over-year, while the area offers strong dining density with 4.05 restaurants per square mile. Limited childcare and grocery amenities may present tenant retention considerations, though the established rental market and occupancy stability suggest consistent demand fundamentals.
The neighborhood demonstrates improving safety trends with property crime declining 54% year-over-year, ranking 8th among 74 metro neighborhoods for crime reduction. Current property offense rates of 241 per 100,000 residents place the area near the metro median, while violent crime rates remain moderate at 54 incidents per 100,000 residents.
Overall crime metrics rank 14th metro-wide, placing the neighborhood in the 63rd percentile nationally for safety. The significant year-over-year improvement in property crime trends suggests positive momentum that may support tenant retention and property values over time.
Employment data for major anchor employers near this property is not available in the current dataset. Investors should conduct independent research on local employment centers and their proximity to the property when evaluating workforce housing demand and commute patterns.
This 107-unit property built in 2006 positions investors in Chico's strongest rental submarket, where neighborhood occupancy reaches 99.1% - ranking in the top 10% nationally. The Urban Core location benefits from 75.9% renter occupancy, the second-highest rate metro-wide, while median rents of $1,373 rank in the upper tier locally. Demographics within a 3-mile radius show 44% of residents aged 18-34, supporting sustained rental demand as household formation continues.
The property's 2006 construction vintage offers competitive positioning against the neighborhood's 1943 average building age, potentially reducing near-term capital expenditure requirements. According to multifamily property research from WDSuite, improving safety metrics with 54% property crime reduction year-over-year enhance the investment environment, while manageable rent-to-income ratios at 0.27 support tenant retention.
- Exceptional occupancy fundamentals at 99.1% neighborhood-wide, top 10% nationally
- Strong rental market with 75.9% renter-occupied units, second-highest metro-wide
- Newer 2006 construction reduces capital expenditure risk versus neighborhood average
- Young demographic base with 44% aged 18-34 supports sustained rental demand
- Limited amenity density may impact tenant retention and require monitoring