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Property profile & analytics
OFF-MARKET
Estimated value
$4,700,000
Apartment buildings
406 Nord Ave 14 Chico, CA 95926-4720
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-0170184
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2007
Construction
WOOD
Total area
25,628 SF
Lot
1.15 ac (50,093 SF)
Zoning code
C1
APN
043-230-004-000
UPID
US09-0170184
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.70M
CAP Approach
CAP
$4.55M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.70M
Owner & transaction history
Department Of Transportation · 2 yrs held
Department Of Transportation
since 2024
Last sale
$4.7M
7 recorded transactions
Zoning & alternative use
C1 · Chico, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$7.2M
+51.5%
Retail stores
$5.9M
+24.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Chico submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chico submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$4,700,000
ML approach
$4,700,000
CAP Approach
CAP Return
Estimation
6%
$4,930,000
6.5%
$4,550,000
7%
$4,225,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$4,750,000
Current use
COMMERCIAL (GENERAL)
$7,190,000
Change: +51% · Conversion: Moderate
RETAIL STORES
$5,900,000
Change: +24% · Conversion: Difficult
OFFICE BUILDING
$4,300,000
Change: -9% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$3,940,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$4.70M
Range $4.23M – $5.17M · ±10% · vs last sale $4.70M (Jul 10 2024)
Last sale anchor
$4.70M
Jul 10 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$183 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$54,105
Tax year 2024
Assessed value
$4,889,476
Assessed 2024
Previous assessed
$4,889,476
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$546,210
Assessed improvement
$4,343,266
Applied tax rate
2.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
2007
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Stories
3
Units
19
Rooms
44
Bathrooms
8
Total area
25,628 SF
Lot
1.15 ac (50,093 SF)
Zoning code
C1
APN
043-230-004-000
UPID
US09-0170184
Jurisdiction
BUTTE
Zoning & alternative use
C1 · Chico, CA
Zoning C1 · permitted uses
C1 · Chico, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Chico. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$4.8M
COMMERCIAL (GENERAL)
Est. value
$7.2M
RETAIL STORES
Est. value
$5.9M
OFFICE BUILDING
Est. value
$4.3M
INDUSTRIAL (GENERAL)
Est. value
$3.9M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
RETAIL STORES
OFFICE BUILDING
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2007
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
3
Units
19
Rooms
44
Bathrooms
8
Lot
1.15 ac
Current owner
From public records · entity-resolved
Department Of Transportation
Entity
Mailing address
703 B ST, MARYSVILLE, CA 95901-5556
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 10, 2024
—
Department Of Transportation
406 Nord Ave Apartments LLC
Intrafamily Transfer
related
—
Jul 14, 2021
$4,700,000
406 Nord Ave Apartments LLC
Daniel Lee Ostrander
Grant Deed
$3,900,000 · The Ostrander Revocable Trust
Jul 14, 2021
—
Daniel Lee Ostrander
California Resource Management Co L
Grant Deed
—
Jan 12, 2004
—
Alifornia Resouce Management
Ostrander,daniel L
Grant Deed
related
—
May 1, 2003
$213,500
Daniel L Ostrander
Cassidy,john J
Grant Deed
related
—
Jan 23, 2003
$260,000
John J Cassidy
California Resource Mgmt Co
Grant Deed
—
Oct 23, 2002
$157,500
California Resource Mgmt Co Ll
Bunch,tr
Grant Deed
related
—
Oct 14, 1997
—
Bunch Trust
Bunch,david H & Nancy C
Quit Claim Deed
related
—
Mar 1, 1991
$265,000
David H Bunch
Starker Services INC
Grant Deed
$172,200 · Tri Cnty Bk
Jul 1, 1981
$18,000
—
—
Grant Deed
related
—
—
—
California Resource Mgmt Co
—
Deed Of Trust
related
$1,900,000 · Daniel L Ostranader
—
—
California Resource Management
—
Deed Of Trust
related
$428,825 · Ostrander 2007 Fam Trust (pt)
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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