| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 63rd | Good |
| Amenities | 47th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1160 E Lassen Ave, Chico, CA, 95973, US |
| Region / Metro | Chico |
| Year of Construction | 1973 |
| Units | 28 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1160 E Lassen Ave Chico Multifamily Investment
Positioned in an inner-suburban pocket of Chico with steady renter demand and competitive neighborhood occupancy, according to WDSuite’s CRE market data. Elevated ownership costs in the area support leasing resilience without relying on outsized rent growth.
This inner-suburb neighborhood of Chico carries an A- neighborhood rating and ranks 15th out of 74 metro neighborhoods, indicating competitive positioning within the metro. Neighborhood occupancy is strong and competitive among Chico neighborhoods (ranked 25 of 74) and sits above national medians (68th percentile), supporting income stability for multifamily assets.
Livability factors are balanced for workforce and student-oriented renters. Amenity access is competitive within the metro (ranked 13 of 74), underpinned by parks (ranked 9 of 74) and childcare availability (ranked 6 of 74). Grocery access is solid (ranked 22 of 74), while cafes and pharmacies are thinner in the immediate area; investors should underwrite resident convenience accordingly and consider on-site offerings to enhance retention.
Tenure patterns indicate a sizable renter base: the share of renter-occupied housing units is competitive in the metro (ranked 15 of 74) and performs well nationally (90th percentile). This depth supports leasing velocity and reduces exposure to narrow demand segments. Median contract rents sit above national medians (66th percentile), while the rent-to-income ratio trends lower (27th percentile), signaling manageable affordability pressure that can aid renewal rates and pricing discipline.
Within a 3-mile radius, population and households have expanded over the past five years, with additional household growth projected by 2028. The average household size is edging down, which typically points to more, smaller households and a broader renter pool. Combined with elevated neighborhood home values (80th percentile nationally), the high-cost ownership market tends to reinforce reliance on multifamily rentals and supports occupancy stability and lease retention.
The asset’s vintage (1973) is slightly older than the neighborhood average (1976). For investors, this typically implies near- to medium-term capital planning for systems and common areas, along with value-add potential through targeted renovations to remain competitive versus newer stock.
Safety trends are mixed but improving. The neighborhood’s crime rank sits below the metro median (ranked 47 out of 74), while national comparisons place the area below the national median for safety (violent offense percentile ~26; property offense percentile ~32). However, both violent and property offense rates have declined over the past year, indicating recent momentum in the right direction.
Investors should view the area as competitive within the metro’s inner-suburban context, with recent year-over-year declines in offenses serving as a constructive signal for tenant retention and leasing stability. As always, property-level security measures and lighting, plus resident engagement, can help align on-the-ground experience with the neighborhood’s improving trend.
1160 E Lassen Ave offers exposure to a competitive Chico submarket where neighborhood occupancy is above national medians and the renter-occupied share ranks favorably in the metro. Elevated home values in the area support sustained renter reliance on multifamily housing, reinforcing depth of demand and lease retention. Within a 3-mile radius, population and household growth—paired with a trend toward smaller households—points to continued renter pool expansion and support for stabilized operations. Based on commercial real estate analysis from WDSuite, local rent levels are mid-range while rent-to-income ratios trend lower, a combination that can aid renewal outcomes without over-reliance on aggressive rent lifts.
Built in 1973, the property is slightly older than nearby stock, which typically calls for thoughtful capital planning. That age profile can present value-add opportunities through interior upgrades and common-area enhancements to improve competitive positioning against newer assets while managing long-term systems maintenance.
- Competitive neighborhood occupancy and strong renter-occupied share support income stability.
- Elevated local home values reinforce multifamily demand and lease retention.
- 3-mile growth in population and households expands the tenant base and supports leasing.
- Mid-range rents with lower rent-to-income ratios can aid renewals and pricing discipline, per WDSuite data.
- Risks: older 1973 vintage implies capex/renovation needs; safety metrics trail metro leaders; amenity gaps (cafes/pharmacies) warrant on-site convenience planning.