| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 63rd | Good |
| Amenities | 47th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1080 E Lassen Ave, Chico, CA, 95973, US |
| Region / Metro | Chico |
| Year of Construction | 1972 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1080 E Lassen Ave Chico Multifamily Investment
This 40-unit property built in 1972 sits in a neighborhood with 94.4% occupancy and ranks in the top quartile among 74 metro neighborhoods. Strong rental demand is supported by a 53.6% renter-occupied housing base according to CRE market data from WDSuite.
The property sits in an A- rated Inner Suburb neighborhood that ranks 15th among 74 Chico metro neighborhoods, placing it in the top quartile for overall investment fundamentals. With 53.6% of housing units renter-occupied (90th national percentile), the area demonstrates strong structural rental demand that supports multifamily investment stability.
Built in 1972, this property aligns with the neighborhood's average construction vintage of 1976, indicating consistent building stock without immediate capital expenditure pressures typical of significantly older assets. The 888-square-foot average unit size caters to the area's household composition, with demographic data aggregated within a 3-mile radius showing 2.5 average household size and balanced age distribution across working demographics.
Neighborhood-level occupancy of 94.4% ranks 25th among metro neighborhoods (68th national percentile), reflecting stable absorption despite a slight 5-year decline. Median contract rents of $1,215 have grown 35.8% over five years, though this ranks 22nd metro-wide, suggesting measured rent growth relative to peer submarkets. The rent-to-income ratio of 0.20 indicates manageable affordability pressure for tenant retention.
Essential amenities support tenant appeal, with the neighborhood ranking 6th metro-wide for childcare density (84th national percentile) and 9th for parks access (78th national percentile). Home values of $447,102 have increased 61.2% over five years, creating elevated ownership costs that reinforce rental demand and sustain renter reliance on multifamily housing options.
Safety metrics present a mixed profile requiring careful evaluation. The neighborhood ranks 47th among 74 metro neighborhoods for overall crime (41st national percentile), indicating performance near metro median levels. Property offense rates of 632.9 per 100,000 residents rank 51st metro-wide (32nd national percentile), while violent crime rates of 134.1 per 100,000 rank 58th (26th national percentile).
Positive trends include declining crime rates, with property offenses down 10.8% year-over-year and violent offenses declining 6.6%. These improvements suggest ongoing stabilization, though investors should monitor local safety initiatives and consider security enhancements as part of property management strategy to support tenant retention and lease-up velocity.
Employment data for specific nearby employers is not available in the current dataset. Investors should conduct additional due diligence on local employment anchors and commute patterns to assess workforce housing demand in this Inner Suburb location.
This 40-unit property offers stable multifamily fundamentals in a top-quartile Chico neighborhood with 94.4% occupancy and strong rental housing demand. The 1972 construction year presents potential value-add opportunities through strategic renovations, while the neighborhood's 53.6% renter-occupied housing base (90th national percentile) provides structural demand support. Demographics within a 3-mile radius show household growth of 11.1% over five years, expanding the tenant pool and supporting occupancy stability.
Rising home values and elevated ownership costs reinforce rental demand, while moderate rent growth of 35.8% over five years suggests measured pricing power without overheating risk. According to multifamily property research from WDSuite, the neighborhood's A- rating and Inner Suburb classification indicate balanced investment fundamentals with manageable risk exposure.
- Top quartile neighborhood ranking with 94.4% occupancy supports stable cash flow
- Strong rental demand base with 53.6% renter-occupied housing (90th national percentile)
- 1972 vintage offers value-add renovation upside potential
- Household growth of 11.1% expands tenant pool within 3-mile radius
- Risk consideration: Mixed safety profile requires ongoing monitoring and potential security investments