Chico CA Neighborhoods – Multi-Res Investment Potential

[David S.]

I am thinking of investing in multi-res apartments/houses in Chico.

Can anyone share their opinion about the neighborhoods the following properties are in and what kind of tenants they would attract?

- 479 East 7th Street

- 1072 Chestnut Street

- 581 East 5th Avenue

- 1340 West 4th Street

If anyone can also advise where the A or B neighborhoods for apartment rentals are, that would also be greatly appreciated.

Thanks!

[Dylan Vargas]

@David S. Welcome! I feel Chico multifamily is overpriced for Chico but not compared to Bay Area.

479 E 7th.........Decent area but 8th and 9th are one way streets and very busy. Few blocks over is Chapmantown which isn't the best. Few blocks in other direction is 1 mile Park and great area in demand. Closer to downtown and farmers market. This area would be fine I would think. The park is a MAJOR draw.

1072 Chestnut.......college housing area. Not the best for families but ok. One house nice , next an old college house or rental. Still decent area though. Close to downtown area just a few blocks away. I don't care for this area but others do.

581 E 5th......this is next to very busy Mangrove but a much better area in my opinion than the others. Little further from downtown. More family, empty nest, good college housing. Near freeway. Ride my bike past this every week. Nice building.

1340 W 4th street....This is in college rental heaven. Close to college. House by house here. Nice apartments then run down college rentals. Few blocks to downtown and college. Great location but drive by and check. Craig Hall is a block over which is dorm housing for college. When I say "heaven" or "great location" that may not translate to "great, safe, area". Hope that makes sense. 

Most places in Chico area decent with the exception of Rancheria/Columbus Ave area. Even those properties at a better price would be good long term. A few slumlords ruin that entire area. Close to college and walk to everything. Others can give their opinions. Can always drive by if you need me too.