| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Good |
| Demographics | 48th | Fair |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15 Overland Ct, Chico, CA, 95928, US |
| Region / Metro | Chico |
| Year of Construction | 1984 |
| Units | 100 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
15 Overland Ct Chico Multifamily Investment
This 100-unit property built in 1984 sits in a top-tier neighborhood ranking 9th among 74 metro neighborhoods, with strong rental demand supported by 77% renter-occupied housing units according to CRE market data from WDSuite.
The property occupies an inner suburb neighborhood that ranks 9th among 74 Chico metro neighborhoods, earning an A rating for overall investment fundamentals. With 77% of housing units renter-occupied (98th national percentile), this area demonstrates exceptional rental demand depth that supports stable occupancy and lease retention.
Neighborhood-level occupancy stands at 94.2%, outperforming many comparable markets and indicating healthy absorption dynamics. The median contract rent of $1,198 reflects moderate pricing that maintains affordability for the local tenant base, while 5-year rent growth of 39.9% demonstrates solid rental appreciation potential.
Demographics within a 3-mile radius show a population of 58,147 with 45.7% aged 18-34, creating a substantial renter pool. Household projections indicate growth to 34,710 households by 2028 (48.1% increase), expanding the potential tenant base. The area features strong amenity density including restaurants (99th national percentile) and grocery access (88th national percentile), supporting tenant retention through lifestyle convenience.
Built in 1984, the property predates the neighborhood's average construction year of 1941, potentially offering value-add opportunities through targeted capital improvements while maintaining competitive positioning in an established rental market.
Crime metrics show mixed trends that warrant monitoring for property management considerations. The neighborhood ranks 64th among 74 metro neighborhoods for overall crime (30th national percentile), indicating above-average crime levels compared to national standards.
Property offense rates stand at 2,473 incidents per 100,000 residents, though violent crime has declined 28% year-over-year, ranking 14th among metro neighborhoods (74th national percentile) for improvement trends. This downward trajectory in violent incidents suggests improving conditions, though property-related incidents remain elevated and increased 31% annually.
Employment data for major anchor employers within commuting distance is not available in the current data set, limiting assessment of workforce housing demand drivers for this location.
This 100-unit property offers exposure to a high-demand rental market with exceptional renter concentration and demographic growth trends. The neighborhood's 77% renter occupancy rate ranks in the 98th national percentile, while multifamily property research shows projected household growth of 48.1% through 2028, expanding the tenant base substantially. Built in 1984, the property presents potential value-add opportunities through strategic capital improvements in a market with demonstrated rent growth of 39.9% over five years.
Current neighborhood occupancy of 94.2% indicates healthy absorption, while the median rent of $1,198 maintains affordability for the substantial 18-34 age demographic (45.7% of area population). However, investors should monitor crime trends, particularly elevated property offense rates, and factor potential security enhancements into capital planning.
- Exceptional rental demand with 77% renter-occupied units (98th national percentile)
- Strong demographic growth projecting 48.1% household increase through 2028
- Healthy neighborhood occupancy at 94.2% with moderate rent levels supporting retention
- Value-add potential through 1984 vintage property improvements
- Risk consideration: Above-average property crime rates require security planning