| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Best |
| Demographics | 48th | Fair |
| Amenities | 45th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1565 N Cherry St, Chico, CA, 95926, US |
| Region / Metro | Chico |
| Year of Construction | 1979 |
| Units | 56 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1565 N Cherry St Chico Multifamily Investment
Neighborhood renter-occupied housing is high and ownership costs are elevated, supporting steady tenant demand near central Chico, according to WDSuite’s CRE market data. Investors should note improving neighborhood occupancy alongside strong proximity to daily-needs retail.
Situated in Chico’s Urban Core, the property benefits from a renter-driven neighborhood and convenient access to daily essentials. Neighborhood occupancy has trended higher over the past five years, which supports income stability even if leasing velocity moderates during slower cycles.
Local amenities skew toward practical convenience: grocery access is strong and pharmacies are comparatively dense within the metro, while cafes and parks are less concentrated. This mix favors day-to-day livability and can aid resident retention despite fewer lifestyle amenities within immediate blocks.
The neighborhood shows elevated home values relative to national norms, which creates a high-cost ownership market. That backdrop generally sustains reliance on rentals and can reinforce pricing power for well-managed assets; however, operators should calibrate rent setting and renewals carefully where rent-to-income ratios indicate potential affordability pressure.
Within a 3-mile radius, population and household counts have grown over the last five years, with smaller average household sizes. A larger household base and a younger-skewing cohort increase the near-term renter pool, while smaller households align with demand for efficient floor plans, supporting occupancy stability and lease-up at modest unit sizes.
Safety conditions are mixed compared to the Chico metro and national benchmarks. The neighborhood ranks 58 out of 74 metro neighborhoods for crime, indicating higher incident rates than many local peers, and national safety percentiles are on the lower end. Recent data does, however, show a year-over-year decline in estimated violent offenses, which is a constructive trend to monitor.
For underwriting, investors often translate these signals into practical measures: enhanced on-site lighting, controlled access, and resident engagement can help mitigate risk and support retention. Monitoring trend lines rather than single-year snapshots is prudent given variability across small geographies.
This 56-unit asset participates in a renter-heavy Chico submarket where neighborhood occupancy has improved over five years and home values remain elevated versus national norms. That combination supports a durable tenant base and pricing power for well-run properties, based on CRE market data from WDSuite, though operators should balance renewals where rent-to-income metrics suggest higher sensitivity.
Neighborhood-level NOI per unit trends are competitive within the metro, and 3-mile demographics point to a larger household base and smaller household sizes that align with efficient layouts. Amenity access favors groceries and pharmacies, reinforcing day-to-day convenience and resident retention, even if lifestyle amenities are less concentrated nearby.
- Renter-driven neighborhood with improving occupancy supports income stability.
- Elevated ownership costs help sustain reliance on rentals and pricing power.
- 3-mile growth in households and smaller household sizes expand the renter pool.
- Strong grocery and pharmacy access aids day-to-day livability and retention.
- Risks: affordability pressure (high rent-to-income), safety metrics below metro average, and fewer nearby lifestyle amenities.