Investment Overview

Sierra Sunrise Senior Apartments represents a fantastic opportunity to invest in a non-deed-restricted 55+ community in the beautiful California Park neighborhood of Chico, California. The community is one of only a small handful of independent living seniors rental housing options in Chico that is market rate with no income or deed restrictions. As such, demand is and is expected to be robust, especially when considering the exceptionally spacious and well-appointed units. The property is part of an HOA which provides residents with beautiful streets, several lakes, tennis courts, etc. which adds to the appeal of living at Sierra Sunrise. Ownership has taken great care to maintain the property in good condition. Recent leasing has proven strong even through the winter leasing season, with new leases pointing toward 8% loss-to-lease upside in rents with little to no upgrades to existing units on tradeout. Currently a 2BD 1BA unit is kept vacant as a clubhouse, which could be leased out to produce over $17,000 in additional gross annual income. Please sign the confidentiality agreement, review the due diligence and marketing materials and then call the listing agents to schedule a tour.