| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Best |
| Demographics | 62nd | Good |
| Amenities | 86th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2001 Notre Dame Blvd, Chico, CA, 95928, US |
| Region / Metro | Chico |
| Year of Construction | 2007 |
| Units | 50 |
| Transaction Date | 2006-02-03 |
| Transaction Price | $900,000 |
| Buyer | JARVIS GARDENS SENIOR APARTMENTS INC |
| Seller | CHICO REDEVELOPMENT AGENCY |
2001 Notre Dame Blvd Chico Multifamily Investment
This 50-unit property in Chico's top-ranked neighborhood offers stable fundamentals with neighborhood-level occupancy at 89.5% and strong renter demand at 59% rental share, according to WDSuite's CRE market data.
This property sits in Chico's second-highest ranked neighborhood among 74 metro areas, earning an A+ rating with strong amenity access and rental market fundamentals. Built in 2007, the asset is newer than the neighborhood average construction year of 1991, positioning it competitively within the local housing stock with reduced near-term capital expenditure needs.
Demographics within a 3-mile radius show steady household growth, with households increasing 11.4% over five years to 15,548 total. The area maintains a balanced age distribution with 30% of residents aged 18-34, supporting sustained rental demand. Median household income of $78,769 has grown 43.3% over five years, while contract rents increased more moderately at 29.5%, suggesting room for rent optimization.
The neighborhood ranks in the top quartile nationally for amenity density, with strong restaurant access (89th national percentile) and grocery availability (80th national percentile). School ratings average 3.5 out of 5, ranking 5th among metro neighborhoods. Neighborhood-level occupancy stands at 89.5%, though down slightly from five years prior, while the 59% rental share ranks 9th metro-wide and 93rd percentile nationally, indicating a well-established rental market.
Home values at $396,745 median have appreciated 50.6% over five years, creating affordability pressure that can support rental demand as ownership becomes less attainable for many households. The rent-to-income ratio of 0.24 suggests rental housing remains accessible relative to local incomes.
Safety metrics present mixed signals for this Chico neighborhood. The area ranks 66th out of 74 metro neighborhoods for overall crime, placing it in the bottom quartile locally with a 25th national percentile rating. Property offense rates are estimated at 2,872 per 100,000 residents, while violent crime rates stand at 332 per 100,000 residents.
Recent trends show property crime rates remained stable year-over-year, while violent crime increased 9.6%. Investors should factor security considerations into operating budgets and tenant retention strategies, though the neighborhood's strong amenity access and rental demand fundamentals may help offset safety concerns for many renters.
This 50-unit Chico property offers exposure to a top-tier neighborhood with established rental market dynamics and demographic stability. The 2007 construction vintage provides competitive positioning within the local housing stock while minimizing immediate capital expenditure needs. Household growth of 11.4% over five years within a 3-mile radius supports tenant base expansion, while the 59% neighborhood rental share indicates strong structural rental demand.
Income growth has outpaced rent increases, with median household income rising 43.3% compared to 29.5% rent growth, suggesting potential for rent optimization strategies. The neighborhood's A+ rating and top-quartile amenity access provide tenant retention advantages, though commercial real estate analysis from WDSuite indicates occupancy has softened slightly to 89.5% from higher historical levels.
- Strong rental market fundamentals with 59% rental share ranking 93rd percentile nationally
- Newer 2007 construction reduces near-term capital expenditure requirements
- Household income growth of 43.3% outpacing rent increases suggests pricing power opportunity
- Top-quartile amenity access supports tenant retention and leasing velocity
- Risk: Safety metrics rank bottom quartile locally, requiring enhanced security considerations