| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Best |
| Demographics | 48th | Fair |
| Amenities | 45th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 346 Nord Ave, Chico, CA, 95926, US |
| Region / Metro | Chico |
| Year of Construction | 1972 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
346 Nord Ave, Chico CA Multifamily Investment
Neighborhood fundamentals point to a deep renter base and steady leasing tailwinds, with renter-occupied housing concentrated well above local norms and occupancy improving at the neighborhood level, according to WDSuite s CRE market data.
Positioned in Chico s Urban Core, the property benefits from a neighborhood rated A- and ranked 16 of 74 metro neighborhoods competitive among Chico locations. Grocery and daily-needs access is a standout: the area ranks 5 of 74 for grocery density and 8 of 74 for pharmacies and restaurants, signaling convenient amenity coverage even if broader amenity breadth sits closer to the metro middle.
Multifamily demand is reinforced by a high share of renter-occupied units at the neighborhood level (ranked 3 of 74), indicating a sizable tenant base that supports leasing and renewal activity. Neighborhood occupancy sits below the metro median but has trended upward over the past five years, suggesting stabilization potential as demand and supply rebalance.
Rent positioning is relatively firm versus the metro, with neighborhood median contract rents ranked 15 of 74 and around the 70th percentile nationally. Home values in the neighborhood score in a high national percentile, and value-to-income metrics are among the highest locally, indicating a high-cost ownership market that tends to sustain reliance on multifamily rentals and support pricing power when managed carefully.
Within a 3-mile radius, WDSuite s demographics indicate modest population growth and a noticeable increase in households over the past five years, alongside a renter share near six in ten. Looking ahead, forecasts call for further population and household growth with smaller average household sizes, which typically points to a larger tenant base and steady demand for rental units rather than larger-format housing.
Vintage and asset positioning: Built in 1972, the property is older than the neighborhood s average construction year (1979). Investors should plan for ongoing capital needs and consider value-add or modernization to remain competitive against newer stock, particularly in unit interiors, common areas, and building systems.
Safety conditions are mixed relative to the metro and nation. The neighborhood s crime rank sits 58 of 74 within the Chico metro, indicating higher incident rates than many local peers. Nationally, overall measures fall below the median. However, recent trends show improvement: estimated violent offenses declined year over year, placing that improvement in a stronger national percentile. Property crime remains elevated nationally, so prudent security measures and resident engagement remain relevant considerations for operations.
This 36-unit asset offers exposure to Chico s Urban Core with a renter-heavy neighborhood, improving occupancy trends, and convenient daily-needs access that supports lease retention. According to CRE market data from WDSuite, neighborhood rents position above the metro median while ownership costs remain elevated in national terms ogether signaling durable renter reliance and potential pricing power with disciplined lease management.
Built in 1972, the property skews older than nearby stock, creating a clear path for value-add through targeted renovations and system upgrades. Within a 3-mile radius, population and households have grown and are projected to expand further as household sizes edge smaller, pointing to a broader tenant base and support for occupancy stability over the medium term. Key risks include affordability pressure relative to local incomes and locally higher crime benchmarks, both manageable with proactive operations and thoughtful capital planning.
- Renter-heavy neighborhood supports demand depth and renewal potential.
- Upward neighborhood occupancy trend indicates improving stability versus recent years.
- Above-metro rent positioning and high ownership costs reinforce multifamily reliance.
- 1972 vintage presents value-add and modernization upside to enhance competitiveness.
- Risks: affordability pressure and elevated local crime call for disciplined leasing, security, and capital planning.