| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Good |
| Demographics | 55th | Good |
| Amenities | 50th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1145 W 9th St, Chico, CA, 95928, US |
| Region / Metro | Chico |
| Year of Construction | 1991 |
| Units | 34 |
| Transaction Date | 2006-12-14 |
| Transaction Price | $2,747,000 |
| Buyer | FRANKLIN STREET LAND CO LLC |
| Seller | FOGARTY THOMAS V |
1145 W 9th St, Chico CA Multifamily Investment
Renter concentration is high in the immediate neighborhood while ownership costs are elevated, supporting steady tenant demand according to WDSuite’s CRE market data. Positioning focuses on durable occupancy with attention to lease management and pricing discipline.
The neighborhood scores A- and ranks in the top quartile among 74 Chico neighborhoods, indicating competitive fundamentals for multifamily. A renter-occupied share around the mid‑60% range signals a deep tenant base that can support leasing velocity and retention, particularly for well-managed workforce housing.
Occupancy at the neighborhood level has trended upward over the last five years, which supports stability, though the absolute level sits closer to the metro’s lower half and warrants attentive renewal strategy. Elevated home values in the area (well above the national median) reinforce reliance on rental housing, which can underpin demand across cycles.
Day‑to‑day livability is supported by solid access to groceries, pharmacies, and restaurants, while parks and cafes are less dense locally. Average school ratings sit modestly above national medians, adding family‑oriented appeal without being the primary demand driver.
Demographics aggregated within a 3‑mile radius show recent population and household growth, with forecasts pointing to further increases by 2028 and a slight tilt toward smaller household sizes. This mix suggests ongoing renter pool expansion, which can help support occupancy and absorption for well-positioned assets.
Built in 1991, the property is newer than the area’s average vintage (mid‑1960s). That relative youth can be a competitive advantage versus older stock, though investors should still plan for modernization of systems and finishes to meet current renter expectations.
Safety indicators are mixed. The neighborhood sits below the national median for safety and ranks in the lower tier among the 74 Chico neighborhoods, so investors should underwrite prudent operating practices and consider security measures where appropriate.
Recent trend data shows a slight decrease in violent incidents year over year alongside a modest increase in property incidents. Framed against regional patterns, this suggests continued need for attentive management, lighting, and access controls to support resident comfort and retention.
A diversified local employment base within standard commuting range supports renter demand and retention; proximity benefits are typical for Chico’s inner‑suburban neighborhoods.
1145 W 9th St offers exposure to a renter‑heavy neighborhood with rising household counts (3‑mile radius) and ownership costs that sustain multifamily demand. Neighborhood occupancy has improved over the past five years, and the property’s 1991 vintage is newer than much of the local stock, positioning it competitively versus older assets while leaving room for targeted upgrades. According to CRE market data from WDSuite, these dynamics align with stable renter demand, provided management remains focused on renewals and resident experience.
Key considerations include affordability pressure (high rent‑to‑income ratios locally) and safety that trails national medians—both manageable with disciplined leasing, expense controls, and asset‑level improvements. Forward demographic growth within 3 miles supports a larger tenant base, suggesting steady absorption for well‑amenitized units at market‑appropriate price points.
- Renter‑heavy neighborhood supports depth of tenant demand and leasing velocity.
- Neighborhood occupancy trending upward, aiding stability with effective renewal strategy.
- 1991 vintage offers competitive positioning versus older local stock with targeted modernization potential.
- 3‑mile population and household growth expands the renter pool, supporting absorption and retention.
- Risks: elevated rent‑to‑income ratios and below‑median safety require disciplined lease management and property‑level controls.