| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 69th | Best |
| Amenities | 90th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1301 Sheridan Ave, Chico, CA, 95926, US |
| Region / Metro | Chico |
| Year of Construction | 1974 |
| Units | 112 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1301 Sheridan Ave, Chico CA Multifamily Investment
Positioned in an inner-suburb pocket with strong neighborhood amenities and steady renter demand, this 112-unit asset benefits from occupancy that trends around the metro median, according to WDSuite’s CRE market data.
Chico’s A+ rated inner-suburb neighborhood stands out for convenience and daily-needs access. Amenity density is competitive among Chico’s 74 neighborhoods, with restaurants, groceries, parks, and childcare all ranking in the top tier locally and landing in the top quartile nationally. This supports renter retention and leasing velocity for multifamily operators.
Neighborhood occupancy is measured for the neighborhood and sits above the metro median among 74 neighborhoods, with national performance near the middle of the pack. That backdrop, paired with a renter-occupied share around 53.9% of housing units, signals a deep tenant base and demand stability for larger garden communities.
Within a 3-mile radius, demographics show recent population growth and a faster increase in households, indicating a larger tenant base and smaller average household sizes. Forward-looking projections also point to continued household growth, which supports occupancy stability and leasing prospects for well-managed assets.
Ownership costs in the neighborhood are elevated relative to incomes compared with most U.S. neighborhoods, and home values rank well above national averages. For multifamily investors, a high-cost ownership market typically sustains reliance on rental housing, reinforcing demand depth and potential pricing power, while still requiring disciplined lease management to monitor affordability pressure.
The property’s 1974 vintage is newer than the neighborhood’s mid-1960s average stock. Investors should plan for selective capital improvements typical of 1970s construction, with potential value-add through interior refreshes and common-area upgrades to compete against both older legacy assets and newer deliveries.
Neighborhood safety indicators are mixed relative to peers. Crime conditions sit somewhat below the national average for safety, while the area tracks near the middle of Chico’s 74 neighborhoods. Importantly, both violent and property offense estimates have improved year over year, suggesting a constructive trend even if levels remain weaker than national norms. These figures describe neighborhood conditions, not this specific property.
1301 Sheridan Ave offers scale at 112 units in an amenity-rich inner-suburb location where renter concentration and neighborhood occupancy support stable operations. Elevated ownership costs compared with incomes help sustain reliance on rental housing, while household growth within a 3-mile radius enlarges the tenant base. According to CRE market data from WDSuite, neighborhood occupancy trends sit above the metro median, an encouraging backdrop for consistent leasing.
The 1974 vintage suggests targeted capital planning can unlock value—modernizing interiors and community spaces to differentiate from older inventory while remaining cost-effective versus new construction. Prudent revenue management remains important given rent-to-income considerations, but the combination of demand depth, convenience amenities, and improving safety trends supports a durable, long-term hold thesis.
- Scale and location: 112 units in a top-amenity inner-suburb submarket that supports leasing and retention.
- Demand depth: Above-median neighborhood occupancy and a high share of renter-occupied housing units underpin tenant base stability.
- Value-add path: 1974 construction allows selective renovations to improve competitiveness versus legacy stock and new deliveries.
- Rental tailwinds: Elevated ownership costs reinforce renter reliance, supporting pricing power with disciplined lease management.
- Risk watch: Safety metrics remain below national averages despite recent improvement; active property management and lighting/security upgrades may be warranted.