| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Good |
| Demographics | 48th | Fair |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1197 E 8th St, Chico, CA, 95928, US |
| Region / Metro | Chico |
| Year of Construction | 2012 |
| Units | 38 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1197 E 8th St, Chico CA Multifamily Investment
Positioned in a high-renter neighborhood where occupancy has remained resilient at the neighborhood level, this 38-unit asset benefits from steady demand drivers, according to WDSuite’s CRE market data. The area’s strong amenity density and renter concentration support leasing durability and pricing discipline.
Neighborhood dynamics and renter demand
The property sits in an Inner Suburb neighborhood rated A (ranked 9 out of 74 in the Chico metro), placing it competitive among Chico neighborhoods. Neighborhood occupancy is 94.2% and has improved over the past five years, a signal of stable renter demand at the neighborhood level rather than the property specifically, based on CRE market data from WDSuite.
Amenity access is a core strength. Restaurants and cafes are dense by national standards (restaurants around the 99th percentile and cafes near the 96th), with grocery options also well represented (about the 88th percentile). Parks measure near the 93rd percentile nationally. These concentrations typically translate to day-to-day convenience and support retention where residents prioritize walkable food, services, and recreation.
Tenure patterns lean decisively toward renters: approximately 77% of neighborhood housing units are renter-occupied (ranked 1 out of 74 metro neighborhoods), indicating a deep tenant base. Within a 3-mile radius, households grew over the past five years and are projected to continue increasing, pointing to a larger renter pool over time and helping support occupancy stability for multifamily.
Home values in the neighborhood sit above national norms while local incomes are lower by comparison, creating a high-cost ownership market that tends to sustain reliance on rental housing. School ratings in the area trend lower, which may temper appeal for some family renters, but the neighborhood’s amenity density and renter concentration remain meaningful drivers for multifamily demand.
Vintage matters for competitive positioning: the average neighborhood construction year skews older (1941). With a 2012 delivery, this property is newer than most nearby stock, which can aid leasing and operating efficiency versus older assets, while still warranting routine capital planning as building systems age.
Safety context
Relative to the Chico metro, the neighborhood’s crime rank sits in the above-median range (ranked 64 out of 74 metro neighborhoods), indicating comparatively better conditions versus many local peers. Nationally, safety indicators are below average (around the 30th percentile), so investors should underwrite with realistic expectations and appropriate management practices.
Trend-wise, violent offense estimates have declined year over year (improvement ranking in the upper tier locally), while property offense levels remain elevated compared with national benchmarks. Taken together, the picture suggests local improvement in serious incidents alongside ongoing exposure to non-violent offenses—points that can be addressed through standard security measures and resident engagement.
Investment thesis
This 38-unit, 2012-built multifamily property benefits from a renter-heavy neighborhood with stable occupancy at the neighborhood level and strong amenity access supporting leasing durability. According to CRE market data from WDSuite, the surrounding neighborhood shows high renter concentration and improved occupancy over five years, while home values outpace local incomes—conditions that typically reinforce rental demand and support retention.
Forward demand indicators are constructive: within a 3-mile radius, population and households have grown and are projected to continue expanding, pointing to a larger tenant base. The newer vintage versus the predominantly older neighborhood stock (average 1941) provides relative competitiveness and potential operating advantages, while prudent capital planning remains important over the hold.
- Renter-heavy neighborhood with stable occupancy supports leasing consistency at the neighborhood level.
- 2012 construction offers competitive positioning versus much older local stock.
- Strong amenity density (food, grocery, parks) enhances day-to-day convenience and retention.
- Growing 3-mile household base expands the renter pool over time.
- Risks: below-average national safety benchmarks and elevated rent-to-income ratios warrant careful lease management and underwriting.