| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Best |
| Demographics | 48th | Fair |
| Amenities | 45th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 730 Nord Ave, Chico, CA, 95926, US |
| Region / Metro | Chico |
| Year of Construction | 1973 |
| Units | 30 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
730 Nord Ave Chico Multifamily Investment
This 30-unit property benefits from neighborhood-level occupancy at 88% and strong rental demand in Chico's urban core. According to CRE market data from WDSuite, the area maintains above-average net operating income per unit at $9,551.
The property sits in Chico's urban core neighborhood, which ranks 16th among 74 metro neighborhoods with an A- rating. Built in 1973, this vintage aligns with the neighborhood average construction year of 1979, indicating consistent building stock that may present value-add renovation opportunities for investors focused on capital improvements.
Rental demand fundamentals appear solid, with 75.7% of housing units renter-occupied—ranking 3rd among metro neighborhoods and in the 98th percentile nationally. Demographics within a 3-mile radius show 59.9% of households are renters, supporting sustained multifamily demand. Population growth of 3.8% over five years, combined with forecast household growth of 42.6% through 2028, suggests an expanding renter pool that could support occupancy stability.
The neighborhood demonstrates strong amenity density with 3.59 grocery stores per square mile (5th among metro neighborhoods, 92nd percentile nationally) and 8.39 restaurants per square mile (8th among metro neighborhoods, 88th percentile nationally). Median contract rent of $1,311 ranks 15th in the metro and sits in the 70th percentile nationally. With forecast median rent projected to reach $1,586 by 2028—a 33.8% increase—pricing power appears supported by limited supply and demographic trends.
Crime metrics show the neighborhood ranking 58th among 74 metro neighborhoods, placing it in the 34th percentile nationally for safety. Property offense rates are estimated at 1,202 incidents per 100,000 residents with a 4% increase year-over-year. However, violent crime trends show improvement with a 17.2% decrease, ranking 20th among metro neighborhoods and reaching the 67th percentile nationally for violent crime reduction.
While crime levels require ongoing monitoring, the improving violent crime trend and the neighborhood's urban core location suggest security considerations are manageable for experienced multifamily operators. Investors should factor typical urban market security measures into operating budgets and consider the trade-off between location benefits and crime management costs.
Employment data for specific nearby employers is not available in the current dataset. Investors should conduct independent research on major area employers, healthcare systems, educational institutions, and government facilities that could support tenant demand in the Chico market.
This 30-unit property built in 1973 offers value-add potential in a neighborhood that demonstrates strong rental fundamentals. The area's 75.7% renter occupancy rate ranks in the top 2% nationally, while net operating income per unit averaging $9,551 ranks 5th among metro neighborhoods. Demographics within a 3-mile radius project significant household growth of 42.6% through 2028, supporting long-term tenant demand alongside forecast rent growth to $1,586.
According to multifamily property research from WDSuite, the neighborhood maintains above-average amenity access and benefits from Chico's university-influenced rental market. The 1973 construction year aligns with area norms, presenting opportunities for strategic capital improvements that could capture projected rent growth while the strong renter concentration provides occupancy stability.
- Strong rental demand with 75.7% renter occupancy ranking 3rd among 74 metro neighborhoods
- Above-average NOI per unit at $9,551 indicates solid operational performance
- Forecast household growth of 42.6% through 2028 supports tenant demand expansion
- Value-add potential through strategic renovations of 1973-vintage units
- Risk consideration: Crime metrics rank below metro median, requiring security management