FOR SALE: Bison Court Subdivision

Seller financing may be available.

Price: $2,550,000

14 LOTS
PRICE PER LOT (not sold separately): $182,142
LAND PRICE PER UNIT (28 units): $91,071

FOR SALE: 494 E 5th St, Chico, CA

During the recent period-appropriate renovation no expense were spared. The upgrades include brand-new roofs, electrical and plumbing systems, energy-efficient mini splits with heat pumps, elegant granite counters, custom doors and windows, modern appliance packages, a charming porch, and an inviting overhang – all enhancing the property’s allure. Units have indoor laundry.

This exceptional property boasts a prime location, situated right on the edge of the renowned GOLDEN TRIANGLE – Chico’s most sought-after downtown residential area. The Golden Triangle is synonymous with luxurious living and offers unparalleled convenience to tenants. Residents can easily walk to a myriad of dining options, shopping destinations, and vibrant nightlife downtown. Additionally, Bidwell Park beckons with its recreational activities like biking, walking, and swimming, providing an ideal escape into nature.

Seller may finance, terms negotiable. Upstairs has potential for development of additional units, buyer to investigate.

Price: $1,395,000

5 UNITS | 7 BEDS | 6 BATHS | ~ 4,025 SQ/FT

PENDING: 803 Normal, Chico, CA

Residential Market Trends (Chico, CA)

The 12-Month Change in Months of Inventory is showing a significant increase of +11.59%. This suggests that the market is becoming more balanced, with inventory levels rising over the past year. This could indicate a shift towards a more buyer-friendly market in the near future.

The Median Days Homes are On the Market is a short 12 days, indicating that homes are selling quickly in this market. This fast pace could be attributed to the high demand and limited supply of homes available.

The List to Sold Price Percentage is at a strong 98.3%, indicating that homes are typically selling close to their listing price. This can be a positive sign for sellers, as it shows that they are able to get close to their asking price in this market.

Lastly, the Median Sold Price is $490,000, providing a benchmark for the average price of homes sold in this market. This can be useful information for both buyers and sellers to understand the current pricing trends.

Overall, these metrics paint a picture of a competitive real estate market with limited inventory, high demand, and homes selling quickly at prices close to their listing price. Buyers may face increased competition, while sellers may find it a favorable market to sell their homes. Keeping an eye on these metrics can help both buyers and sellers make informed decisions in this dynamic real estate market.

News

City of Chico planning $60 million in historic roadway construction

The City of Chico has announced six major projects, including road rehabilitation efforts on several key streets like Norte Dam Boulevard, East 20th Street, and Rio Lindo Avenue. The rehabilitation project, costing approximately $7 million, will begin in May and last three to four months, with advance notices and signage for any traffic impacts. These initiatives are funded through Measure H and grants, allowing the city to address pressing road issues. Additionally, a $29 million construction project will commence in May on Bruce Road, involving the addition of lanes and a larger bridge over Little Chico Creek. This project, the most expensive of the six, will be undertaken by Knife River Construction and is expected to result in severe road closures over the next year, although efforts will be made to keep portions of the road open. Ultimately, the goal is to convert all of Bruce Road from Highway 32 to Sky into four lanes, utilizing cost-effective concrete paving. The city aims to complete the road rehabilitation project by the end of fall.

Chico’s $28 million aquatic center project moves forward, awaits key grant decision

Chico Area Recreation and Park District (CARD) is making progress on a new $28 million aquatic center. They received a $6 million grant and are awaiting a $10 million grant decision from the Strategic Growth Council, expected by April 12. Despite funding needs, the project is advancing according to Scott Schumann, Director of Parks and Facilities. The timeline remains on track for completion by late 2025 or early 2026. The aquatic center, situated on a 10-acre parcel donated by Ken Grossman and Katie Gonser, will include amenities like competition and recreational pools, water slides, and cabanas, aiming to improve the community’s quality of life.

Downtown Chico Complete Streets Project

The aim of the Downtown Chico Complete Streets Project is to enhance connectivity within the North and South Downtown areas, catering to various modes of transportation. It intends to address gaps in bicycle infrastructure by establishing a link between Park Avenue and the forthcoming Class I facility along Esplanade, scheduled for completion in 2024. The project encompasses the Main and Broadway corridors from 1st Street to Humboldt Road, as well as the adjacent side streets between Main and Broadway. Additionally, it covers sections of 3rd Street from Salem Street to Orient Street, and 4th Street from Salem Street to Cypress Street.

Chico Chamber: 2024 State of the City Address

Hear from a variety of speakers reporting on the state of the local economy, safety, Chico State, city growth projects, and more. This event is open to the public.