| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Best |
| Demographics | 48th | Fair |
| Amenities | 45th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1001 W Sacramento Ave, Chico, CA, 95926, US |
| Region / Metro | Chico |
| Year of Construction | 1984 |
| Units | 34 |
| Transaction Date | 2016-05-26 |
| Transaction Price | $604,000 |
| Buyer | SCHIFF RANDALL J |
| Seller | TARTER GREGORY E |
1001 W Sacramento Ave Chico Multifamily Investment
High renter concentration in the neighborhood supports steady tenant demand and helps underpin occupancy, according to WDSuite’s CRE market data.
Situated in Chico’s Urban Core, the neighborhood posts an A- rating and is competitive among local submarkets (ranked 16 of 74 metro neighborhoods). For daily needs, grocery and pharmacy access stand out—grocery density ranks 5 of 74 and sits in the top quartile nationally, with pharmacies also in a high national percentile. Dining options track similarly strong, providing convenience that supports renter retention.
Renter demand fundamentals are notable: the neighborhood has a high share of renter-occupied housing units (among the top ranks locally), signaling a deep tenant base for multifamily. Neighborhood occupancy trends are stable though not top-tier nationally, suggesting investors should emphasize leasing execution and renewal management rather than assume automatic lease-up advantages.
Within a 3-mile radius, demographics indicate population growth and an increase in households, which together point to a larger tenant base over the next several years. The majority renter tenure in this radius further reinforces depth of demand for apartments. Income levels have been rising, and the area includes a meaningful share of residents with bachelor’s degrees (top quartile nationally), supporting demand for well-managed workforce and student-adjacent housing.
The asset’s 1984 construction is slightly newer than the neighborhood average (1979). That vintage provides relative competitiveness versus older stock while still leaving room for targeted modernization—particularly common areas, unit finishes, and building systems—to capture rent premiums and enhance durability of cash flows. Elevated home values (top quintile nationally) and a high value-to-income ratio signify a high-cost ownership market in this neighborhood context, which tends to sustain renter reliance on multifamily housing and can support pricing power when paired with strong operations.
Safety indicators are mixed. Relative to U.S. neighborhoods, this area sits in lower national percentiles for both violent and property offenses, indicating higher-than-average incident rates. Within the metro, overall crime ranks 58 out of 74 neighborhoods, placing it below the metro median. Investors should underwrite security measures and active property management to support resident satisfaction and retention.
A constructive note is trend direction: the estimated violent offense rate shows a year-over-year decline that ranks favorably versus national trends. While this does not eliminate risk, it suggests some improvement momentum. As always, compare multiple time periods and submarket peers to contextualize current conditions.
1001 W Sacramento Ave is a 34-unit asset in an Urban Core location with strong renter orientation and daily-needs access. According to CRE market data from WDSuite, the neighborhood’s renter-occupied share is among the highest locally, reinforcing depth of demand, while occupancy levels are steady enough to reward disciplined leasing and renewal strategies. Elevated ownership costs in the neighborhood context tend to sustain reliance on rentals, which can support pricing power when upgrades are paired with sound operations.
Built in 1984, the property is slightly newer than the neighborhood average, offering a platform for focused value-add—modernizing interiors and common areas to compete against older stock. Demographic trends within a 3-mile radius point to population growth and a rising household count, expanding the tenant pool and supporting occupancy stability over the medium term. Balanced against these strengths, affordability pressure and safety considerations warrant conservative underwriting and active management.
- High local renter concentration supports durable multifamily demand
- Daily-needs access (grocery, dining, pharmacy) aids retention and leasing
- 1984 vintage provides value-add potential to outcompete older stock
- Demographic tailwinds within 3 miles expand the tenant base over time
- Risks: affordability pressure and below-median metro safety require proactive management