| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Fair |
| Demographics | 48th | Fair |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1055 E Lassen Ave, Chico, CA, 95973, US |
| Region / Metro | Chico |
| Year of Construction | 1985 |
| Units | 80 |
| Transaction Date | 2025-03-31 |
| Transaction Price | $9,000,000 |
| Buyer | SANDALWOOD CHICO LLC |
| Seller | DOYLE KEITH B |
1055 E Lassen Ave, Chico CA Multifamily Investment
Positioned in an inner-suburban pocket with steady renter demand and occupancy near metro norms, this asset benefits from a broad local tenant base, according to WDSuite s commercial real estate analysis.
The property sits in an Inner Suburb neighborhood rated A- (ranked 18 of 74 within the Chico metro), where daily conveniences are close at hand. Grocery access is especially strong (top quartile metro rank), and restaurants and cafes also register in the top quartile among 74 metro neighborhoods. Pharmacy access is similarly competitive. Limited park and formal childcare facilities in the immediate area may require residents to look slightly farther for those amenities.
Multifamily fundamentals at the neighborhood level are solid: occupancy tracks near the metro median, and the share of housing units that are renter-occupied is elevated versus national norms, indicating a deeper tenant pool and support for leasing stability. Neighborhood NOI per unit benchmarks in the top quartile metro-wide based on CRE market data from WDSuite, reinforcing income competitiveness relative to other Chico sub-areas.
Within a 3-mile radius, WDSuite data shows population and household counts have grown over the past five years, with further household growth projected alongside smaller average household sizes. This points to a larger renter base and ongoing support for occupancy and lease-up. Median contract rents in the area have risen over the last five years, while a moderate rent-to-income backdrop suggests room for disciplined pricing without outsized retention risk.
The 1985 vintage is newer than the neighborhood s typical 1970s-era housing stock. That relative youth can aid competitive positioning versus older assets, though investors should still plan for modernization of aging systems and selective value-add to meet current renter expectations.
For homeownership context, neighborhood home values sit below many coastal California markets. That comparatively accessible ownership landscape can introduce some competition for renters, but it also broadens the local income mix, which, paired with a meaningful renter concentration, supports steady multifamily demand and lease retention.
Safety indicators for the neighborhood track below national medians, placing the area outside top-quartile benchmarks nationwide. According to WDSuite s CRE market data, recent-year trends show a modest decline in property offenses but an uptick in violent offenses, underscoring the importance of active on-site management, lighting, and partnership with local resources. Within the Chico metro (74 neighborhoods total), the area s standing is competitive but not among the leaders, and investors should underwrite standard security measures and monitoring.
This 80-unit, 1985-vintage asset offers exposure to an A- rated Inner Suburb of Chico with strong daily convenience, elevated renter concentration, and demographic tailwinds within a 3-mile radius. Occupancy trends are steady near metro norms, and neighborhood NOI per unit ranks in the top quartile locally, indicating competitive income potential versus other Chico areas. According to CRE market data from WDSuite, rising area rents and a moderate rent-to-income environment support disciplined pricing while preserving retention.
The vintage is newer than much of the neighborhood s 1970s-era stock, suggesting a favorable competitive set, while still presenting value-add potential via modernization and system upgrades. Key watchpoints include safety metrics that lag national medians and limited nearby parks/childcare, which should be addressed through management, amenities, and resident engagement to sustain leasing performance.
- Inner-suburban A- location with top-quartile grocery/restaurant access and practical daily conveniences
- Elevated renter-occupied housing share supports tenant base depth and occupancy stability
- 1985 vintage is newer than neighborhood average, with modernization upside for rent and retention
- Neighborhood NOI per unit ranks top quartile in the metro, reinforcing income competitiveness
- Risks: safety metrics below national medians; limited parks/childcare — budget for security, resident programming, and amenity strategy