| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Best |
| Demographics | 48th | Fair |
| Amenities | 45th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 812 Nord Ave, Chico, CA, 95926, US |
| Region / Metro | Chico |
| Year of Construction | 2001 |
| Units | 22 |
| Transaction Date | 2019-05-08 |
| Transaction Price | $5,600,000 |
| Buyer | Anvil Builders Inc. |
| Seller | 812 Nord Avenue, LLC |
812 Nord Ave, Chico CA Multifamily Investment
Neighborhood metrics point to a deep renter base and improving occupancy, according to WDSuite’s CRE market data, suggesting durable demand drivers near Chico’s urban core. These indicators reflect neighborhood conditions, not the property’s own occupancy.
Situated in Chico’s Urban Core, the neighborhood ranks in the top quartile among 74 metro neighborhoods overall, with amenity access that is competitive locally. Grocery and pharmacy density test well versus national peers (both upper-percentile nationally), while cafes and parks are limited, which may modestly affect lifestyle appeal for some renters.
Renter-occupied housing is a defining feature here: the neighborhood s renter concentration is among the highest in the metro, reinforcing a broad tenant base for multifamily owners. Neighborhood occupancy has trended higher over the past five years, supporting leasing stability; these figures reflect neighborhood conditions rather than this specific property.
Within a 3-mile radius, demographics show recent population growth and a meaningful increase in households, with further household expansion projected in the near term. A rising share of households alongside slightly smaller average household sizes points to a larger, more diversified renter pool, which typically supports occupancy stability and absorption for well-positioned assets.
Ownership costs are elevated relative to local incomes (high national percentile for home values and value-to-income), which tends to sustain reliance on rental housing and can support pricing power for competitively positioned properties. At the same time, higher rent-to-income levels at the neighborhood scale warrant attentive lease management to mitigate retention risk.
The asset 9s 2001 construction is newer than the neighborhood 19s average vintage (1979). That positioning can be advantageous versus older stock, though investors should still plan for system modernization and selective updates to remain competitive against newer deliveries.
Safety indicators for the neighborhood are below national averages (lower national percentiles for both property and violent offenses), signaling a need for prudent security and management practices. However, recent year-over-year trends point to fewer violent incidents, indicating some improvement. These references compare this neighborhood to others nationwide and within the Chico metro (74 neighborhoods) rather than describing block-level conditions.
This 22-unit property built in 2001 benefits from a high-renter neighborhood with improving occupancy and above-metro amenity access in essentials like groceries and pharmacies. Elevated ownership costs relative to income reinforce multifamily demand, while 3-mile demographics indicate recent population growth and a projected increase in households that can expand the renter pool. Based on CRE market data from WDSuite, these neighborhood dynamics support steady leasing for competitively positioned assets.
The 2001 vintage compares favorably to the area 19s older housing stock, offering relative competitiveness versus pre-1980 properties, though investors should plan for ongoing modernization to sustain rent positioning. Attention to affordability pressure (higher rent-to-income) and localized safety considerations remains important for retention and expense planning.
- High renter concentration and improving neighborhood occupancy support demand depth
- Essentials-rich amenity access (groceries, pharmacies) aids daily convenience and retention
- 3-mile household growth and a broad renter pool underpin leasing stability
- 2001 vintage offers competitive positioning versus older local stock
- Risks: higher rent-to-income ratios and below-average safety require proactive management