| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Best |
| Demographics | 48th | Fair |
| Amenities | 45th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1230 Nord Ave, Chico, CA, 95926, US |
| Region / Metro | Chico |
| Year of Construction | 1983 |
| Units | 22 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1230 Nord Ave Chico Multifamily Investment
This 22-unit property built in 1983 sits in an A- rated neighborhood with 98th percentile rental occupancy share. According to CRE market data from WDSuite, the area demonstrates strong renter demand with 75.7% of housing units occupied by tenants.
This 22-unit property sits in an A- rated Urban Core neighborhood ranking 16th among 74 Chico metro neighborhoods. The area demonstrates exceptional rental market fundamentals, with 75.7% of housing units occupied by renters—ranking in the 98th percentile nationally. Neighborhood-level occupancy holds at 88.0%, providing a stable foundation for rental operations.
Built in 1983, this property predates the neighborhood's 1979 average construction year, presenting potential value-add opportunities through strategic renovations. The area shows strong housing market performance, ranking in the 73rd percentile nationally, while contract rents average $1,311 with 47% growth over five years.
Demographics within a 3-mile radius support sustained rental demand, with 60% of households renting and median household income of $67,346. Population growth of 4.7% over five years has expanded the renter pool, while forecasts project continued household formation through 2028. The area maintains solid amenity access with top-quartile grocery store density and strong restaurant concentration, supporting tenant retention in this college town market.
Safety metrics show mixed trends requiring ongoing monitoring. Property crime rates rank 61st among 74 neighborhoods in the Chico metro, placing in the 19th percentile nationally. However, violent crime has declined 17.2% year-over-year, ranking 20th among local neighborhoods and placing in the 67th percentile nationally for improvement trends.
Investors should factor security considerations into operating budgets and tenant retention strategies. The neighborhood's Urban Core designation and high rental occupancy share suggest established rental demand despite crime concerns, though property management should emphasize security features and community engagement to maintain competitive positioning.
The local employment base centers around California State University, Chico and regional healthcare systems, providing workforce housing demand for students, faculty, and medical professionals in this college town market.
- California State University, Chico — higher education
- Enloe Medical Center — healthcare services
- Butte County — government services
- Sierra Nevada Brewing Company — manufacturing
This Chico multifamily property benefits from exceptional rental market fundamentals, with the neighborhood ranking in the 98th percentile nationally for rental occupancy share at 75.7%. The Urban Core location provides access to California State University, Chico, creating consistent demand from students and university employees. Demographics within a 3-mile radius show 60% of households renting, supporting sustained tenant demand.
Built in 1983, the property offers value-add potential through strategic improvements to capture rising rents, which have grown 47% over five years in the neighborhood. Population growth of 4.7% and forecasted household formation through 2028 indicate expanding renter pools, while the area's A- neighborhood rating and strong amenity density support long-term tenant retention.
- 98th percentile rental occupancy share demonstrates exceptional rental demand
- University proximity provides consistent workforce housing demand
- 1983 vintage allows value-add positioning in appreciating rent environment
- A- neighborhood rating with top-quartile amenity access supports retention
- Property crime concerns require security investment and active management