| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Good |
| Demographics | 55th | Good |
| Amenities | 50th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1121 W 9th St, Chico, CA, 95928, US |
| Region / Metro | Chico |
| Year of Construction | 1979 |
| Units | 28 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1121 W 9th St, Chico, CA Multifamily Investment
Renter concentration in the surrounding neighborhood supports a deep tenant base, while ownership costs remain elevated relative to incomes, reinforcing ongoing demand for rentals, according to WDSuite’s CRE market data. Investors should underwrite for retention and pricing discipline given below-metro occupancy levels in the area.
Positioned in an Inner Suburb of Chico with an A- neighborhood rating, the area ranks 12th out of 74 metro neighborhoods — a top quartile location for local living fundamentals. Amenity access is competitive, with grocery and dining density performing in the top quartile nationally and among Chico submarkets, supporting everyday convenience that can aid leasing and retention.
The neighborhood skews renter-occupied (renter concentration ranks 8th of 74; top quartile nationally), indicating a sizable tenant pool and steady multifamily demand. By contrast, neighborhood occupancy stands below the metro median (ranked 53rd of 74), so stabilizing performance may hinge on targeted leasing and unit positioning rather than market lift alone.
Within a 3-mile radius, demographics show recent population and household growth with projections for further increases, implying a larger tenant base over time. Household sizes have edged smaller, which can sustain demand for well-located apartments and support occupancy stability across a range of unit types as more renters enter the market.
Home values in the neighborhood test high relative to national benchmarks (top decile nationally), while local rents sit near the metro middle. For investors, this high-cost ownership market tends to sustain renter reliance on multifamily housing, though rent-to-income ratios suggest affordability pressure that warrants active lease management and renewal strategies.
Vintage considerations: the property’s 1979 construction is newer than the neighborhood’s average vintage. That relative youth can be a competitive edge versus older stock, while still leaving room for selective modernization of systems and finishes to drive rent premiums and reduce near-term capex surprises.
Safety indicators for the neighborhood track below both the metro average and the national median (overall crime ranks 62nd of 74 in the metro; national standing is in the lower third). Recent trends are mixed: violent incidents show a modest year-over-year improvement, while property-related offenses have risen. For investors, this points to the importance of on-site security practices, lighting, and resident engagement to support leasing and retention.
1121 W 9th St offers exposure to a top quartile Chico neighborhood where renter concentration is high and ownership costs are elevated, reinforcing multifamily demand. While neighborhood occupancy sits below the metro median, the 3-mile area shows population and household growth, which supports a larger tenant base and potential for steady absorption. Based on CRE market data from WDSuite, the property’s 1979 vintage is newer than the neighborhood average, suggesting competitive positioning versus older stock with tactical value-add opportunities.
Investment performance will rely on disciplined affordability and renewal management given higher rent-to-income dynamics locally. Amenity access and daily-needs retail are strengths, and selective upgrades can help drive rent outperformance relative to older comparables while supporting occupancy stability over the hold.
- High renter concentration supports depth of tenant demand and leasing velocity.
- Top quartile neighborhood standing in Chico with strong daily-needs amenities nearby.
- 1979 vintage is newer than area norms, enabling competitive positioning against older stock with targeted upgrades.
- Demographic growth within 3 miles expands the renter pool, supporting occupancy stability.
- Risk: below-metro neighborhood occupancy and elevated rent-to-income ratios require proactive pricing and retention strategies.