| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Best |
| Demographics | 48th | Fair |
| Amenities | 45th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1431 Warner St, Chico, CA, 95926, US |
| Region / Metro | Chico |
| Year of Construction | 1974 |
| Units | 50 |
| Transaction Date | 2024-06-07 |
| Transaction Price | $5,050,000 |
| Buyer | BSD CHICO 51 LLC |
| Seller | EVERETT FAMILY LIVING TRUST |
1431 Warner St, Chico CA Multifamily Investment
Renter demand is sustained by a high neighborhood renter-occupied share and improving occupancy, according to WDSuite’s CRE market data. This positioning can support steady leasing and income durability in Chico’s Urban Core.
Located in Chico’s Urban Core, the property sits in a neighborhood rated A- where renter-occupied housing is prevalent. The neighborhood s renter concentration is high (top tier locally), which broadens the tenant base and can support occupancy stability for multifamily assets.
Access to daily needs is a relative strength: grocery and pharmacy density ranks competitively among 74 metro neighborhoods and falls in the upper national percentiles. Restaurant density is also strong, indicating established retail nodes nearby. By contrast, parks and cafes are sparse within the immediate neighborhood, which may modestly limit lifestyle appeal versus amenity-rich submarkets.
Neighborhood occupancy is in the high-80% range and has trended upward over the past five years, signaling resilient leasing fundamentals. Average NOI per unit in the neighborhood ranks among the strongest locally (top cohort out of 74), suggesting operators have been able to maintain revenue performance relative to typical expenses.
Home values are elevated for the area and sit in a high national percentile, while neighborhood household incomes rank lower. In practice, this creates a high-cost ownership market that tends to reinforce reliance on rental housing and can aid lease retention, though it also warrants attention to rent-to-income levels for pricing decisions. For 3-mile demographics, population and household counts have grown over the past five years, with forecasts indicating further household expansion and smaller average household sizes—factors that typically expand the renter pool and support occupancy. These dynamics are based on CRE market data from WDSuite.
Vintage considerations: the asset 19s 1974 construction is slightly older than the neighborhood 19s average vintage (late 1970s). Investors may plan for targeted capital improvements to remain competitive against newer product, with potential value-add upside through renovations and modernization.
Safety metrics for the neighborhood trail national medians, and the area ranks below the metro median when compared with 74 Chico neighborhoods. That said, recent trends show improvement in violent offense rates year over year, while property offenses have seen a modest uptick. Investors typically underwrite with conservative assumptions for security measures and insurance, balanced against the area 19s leasing fundamentals.
In comparative terms, the neighborhood sits below the national midpoint for overall safety but has shown directional improvement in serious offenses. Within the metro context, it does not place among the top quartile for safety, so prudent management practices and resident engagement can be important to support retention.
The area 19s employment base supports workforce housing demand and convenient commuting patterns for renters.
This 50-unit asset offers exposure to Chico 19s Urban Core where renter-occupied housing is prevalent and neighborhood occupancy has improved in recent years. Elevated home values relative to local incomes point to a high-cost ownership market, which can sustain rental demand and aid lease retention. According to CRE market data from WDSuite, neighborhood NOI per unit ranks among the stronger cohorts locally, aligning with the area s demonstrated revenue resiliency.
Built in 1974, the property is slightly older than the neighborhood s late-1970s average, suggesting a practical value-add path through system upgrades and interior refreshes to enhance competitive positioning. 3-mile demographics show recent population and household growth with projections for additional household expansion and smaller household sizes, which typically expands the renter pool and supports occupancy stability over the hold.
- High renter-occupied share and improving neighborhood occupancy support leasing stability
- Elevated ownership costs locally reinforce reliance on multifamily housing and potential retention
- 1974 vintage offers value-add potential via targeted renovations and system updates
- Strong neighborhood NOI per unit performance relative to the metro, per WDSuite
- Risks: safety metrics below metro median and affordability pressure warrant conservative underwriting and active management