| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 69th | Best |
| Amenities | 90th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1200 Sherman Ave, Chico, CA, 95926, US |
| Region / Metro | Chico |
| Year of Construction | 1986 |
| Units | 32 |
| Transaction Date | 2023-06-23 |
| Transaction Price | $5,317,500 |
| Buyer | JIM D PETROPOULOS LIVING TRUST |
| Seller | 1200 SHERMAN AVENUE LLC |
1200 Sherman Ave, Chico CA Multifamily Investment
Stabilized renter demand in an inner-suburb pocket of Chico supports leasing durability, according to WDSuite’s CRE market data. Neighborhood occupancy has trended higher with a sizable renter base, positioning this asset for consistent performance.
Located in an Inner Suburb of Chico, the neighborhood rates A+ and sits above the metro median overall (rank 1 of 74), signaling strong local fundamentals for multifamily. Dining, cafes, groceries, parks, and daily services are concentrated nearby; restaurants and cafes rank competitively among 74 Chico neighborhoods and place the area in the top quartile nationally for amenity access. Average school ratings trend above national middle-of-the-pack levels, offering family-friendly appeal that can aid retention.
For investors, the neighborhood’s renter concentration is a key demand indicator: an estimated 53.9% of housing units are renter-occupied (rank 14 of 74; top quartile nationally), pointing to a deep tenant pool and durable leasing activity. Neighborhood occupancy is reported at 92.5% with positive five‑year momentum, which supports income stability relative to more cyclical submarkets.
Home values skew high versus U.S. norms (nationally high percentile with a strong value‑to‑income ratio), creating a high‑cost ownership market that tends to reinforce reliance on multifamily housing. Median contract rents remain aligned with local incomes (rent‑to‑income around the mid‑20% range), which helps balance pricing power with retention considerations.
The property’s 1986 vintage is newer than the neighborhood’s average construction year of 1964 (rank 39 of 74). That relative youth can be competitively advantageous versus older stock, while still warranting capital planning for aging systems and selective modernization to capture value‑add upside.
Demographic statistics aggregated within a 3‑mile radius show population and household growth over the past five years, with projections calling for continued population growth and a sizable increase in households. This trajectory suggests renter pool expansion and supports occupancy stability and leasing velocity over the medium term.
Safety indicators are mixed but improving. The neighborhood’s crime rank is 41 out of 74 within the Chico metro, roughly around the metro average, and national standing is below the median. However, recent trends point to moderation: estimated violent offenses declined sharply year over year, and property offenses also moved lower, indicating improving conditions versus prior periods. Investors should consider standard risk‑adjusted underwriting and security measures typical for inner‑suburban assets.
1200 Sherman Ave offers a 32‑unit footprint in an A+‑rated inner‑suburban neighborhood where amenity access, renter concentration, and steady neighborhood occupancy support income durability. Elevated ownership costs in the area underpin reliance on rentals, while rent levels remain generally manageable relative to local incomes, helping balance pricing power with retention. Based on CRE market data from WDSuite, neighborhood occupancy has improved over five years, aligning with a growing 3‑mile renter base.
Built in 1986, the asset is newer than much of the surrounding housing stock, providing competitive positioning against older properties. Targeted capital planning for systems and selective renovations can enhance appeal and help capture value‑add upside as population and households expand within the 3‑mile trade area, supporting leasing stability.
- Inner‑suburban A+ neighborhood with amenity density and above‑median local standing (ranked 1 of 74 overall)
- Large renter‑occupied share indicates a deep tenant base and supports occupancy stability
- 1986 vintage offers competitive positioning versus older stock with value‑add potential through modernization
- High‑cost ownership market sustains rental demand while rent levels remain manageable relative to incomes
- Risk: Safety metrics sit around metro average despite recent improvement—underwrite with typical controls