| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Best |
| Demographics | 59th | Good |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 120 Menlo Way, Chico, CA, 95926, US |
| Region / Metro | Chico |
| Year of Construction | 1975 |
| Units | 105 |
| Transaction Date | 2013-09-16 |
| Transaction Price | $5,270,000 |
| Buyer | MENLO POINTE LIMITED PARTNERSHIP |
| Seller | AUTUMN CREEK LLC |
120 Menlo Way Chico Multifamily Investment
This 105-unit property built in 1975 operates in a neighborhood ranking 3rd among 74 Chico metro neighborhoods with 96.5% occupancy rates and strong commercial real estate analysis fundamentals according to WDSuite's CRE market data.
This inner suburb neighborhood ranks 3rd among 74 Chico metro neighborhoods with an A+ rating and demonstrates strong fundamentals for multifamily investors. The area maintains a 96.5% occupancy rate, ranking in the 80th percentile nationally, while 44.5% of housing units are renter-occupied, indicating solid rental demand depth.
Demographics within a 3-mile radius show a population of approximately 79,500 with 57.1% of housing units occupied by renters. The median contract rent of $1,228 reflects reasonable affordability, with household income growth of 45.1% over the past five years supporting tenant retention. Forward projections indicate 8.8% population growth through 2028, expanding the potential tenant base.
The neighborhood offers exceptional amenity density, ranking in the 94th percentile nationally for grocery stores (4.38 per square mile) and 95th percentile for restaurants (17.53 per square mile). This concentration supports tenant appeal and retention. However, park access ranks last among metro neighborhoods, which may affect some tenant segments' preferences.
At 1975 construction, the property predates the neighborhood's 1983 average by eight years, presenting potential value-add opportunities through strategic renovations and unit upgrades to capture higher rents while maintaining competitive positioning in this strong occupancy market.
Safety metrics show the neighborhood performing near metro averages, with property crime rates ranking 49th among 74 Chico neighborhoods and placing in the 36th percentile nationally. Violent crime rates rank 53rd locally, corresponding to the 34th percentile nationwide.
Recent trends indicate property crime declined 5.7% year-over-year, while violent crime increased 6.6%. For multifamily investors, these metrics suggest typical suburban crime patterns without significant red flags that would materially impact tenant retention or leasing velocity in this occupancy-stable market.
The broader Chico employment base centers on education, healthcare, and government services, providing workforce housing demand for this multifamily property. However, specific major employer distance data is not available for detailed proximity analysis.
- California State University, Chico — higher education
- Enloe Medical Center — healthcare services
- Butte County — government services
This 105-unit property benefits from neighborhood-level occupancy stability at 96.5%, ranking in the top quintile nationally, while operating in Chico's 3rd-ranked neighborhood among 74 metro areas. The 1975 vintage offers value-add potential through strategic renovations, particularly given the strong rental demand evidenced by 44.5% renter occupancy and declining property crime trends.
Demographics within a 3-mile radius support long-term demand with 8.8% projected population growth through 2028 and household income gains of 45.1% over five years. The exceptional amenity density, ranking in the 94th percentile nationally for grocery access and 95th percentile for restaurants, enhances tenant retention prospects in this occupancy-stable market according to multifamily property research data from WDSuite.
- Neighborhood occupancy rates of 96.5% rank in 80th percentile nationally
- Strong renter demand with 44.5% of units renter-occupied
- Value-add potential from 1975 construction predating neighborhood average
- Exceptional amenity density supports tenant retention
- Risk: Limited park access may affect tenant preferences in some segments