| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Best |
| Demographics | 62nd | Good |
| Amenities | 86th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1850 Humboldt Rd, Chico, CA, 95928, US |
| Region / Metro | Chico |
| Year of Construction | 1991 |
| Units | 80 |
| Transaction Date | 2004-07-16 |
| Transaction Price | $4,000,000 |
| Buyer | AWW2 LP |
| Seller | BELZA DEVELOPMENT CORP |
1850 Humboldt Rd, Chico CA Multifamily Investment
Positioned in an inner-suburb pocket of Chico with a deep renter base and everyday amenities, the asset benefits from steady tenant demand and competitive rents, according to WDSuite’s CRE market data.
The neighborhood surrounding 1850 Humboldt Rd is rated A+ and ranks 2 out of 74 neighborhoods in the Chico metro, indicating competitive positioning among local submarkets for day-to-day livability and renter appeal. Amenity access is a relative strength: cafes and restaurants score in the top quartile nationally, with grocery, pharmacy, and parks density also testing above national medians. Average school ratings are above the national midpoint (3.5/5; top quartile nationally), which can support retention for family renters.
Multifamily dynamics are balanced. Neighborhood occupancy sits near the metro middle (rank 40 of 74; national middle tier), while the share of renter-occupied housing is high (rank 9 of 74; top quartile nationally), signaling depth in the tenant pool and support for leasing velocity. Median contract rents benchmark above the national midpoint (69th percentile) yet pair with a low rent-to-income ratio (15th percentile nationally), suggesting manageable affordability pressure that can aid lease retention.
Within a 3-mile radius, demographics indicate a growing tenant base: population expanded over the past five years with households up meaningfully, and forecasts point to continued household growth alongside smaller average household size. For investors, that combination typically supports steady demand for rental units and a mix shifting toward smaller formats.
Home values in the area sit well above national norms (75th percentile) and the value-to-income ratio is elevated (89th percentile). In practice, this high-cost ownership context tends to sustain reliance on rental housing, bolstering depth of demand and helping stabilize occupancy across cycles.
Safety trends are mixed and warrant monitoring. Compared with neighborhoods nationwide, this area falls below average on safety (violent and property offense percentiles are low nationally), and within the Chico metro it ranks in the weaker cohort (crime rank 66 out of 74 neighborhoods). For investors, this translates to potential leasing friction in some segments and the need for prudent on-site management and security practices.
Recent momentum is divergent: estimated property offense rates were roughly flat year over year, while violent offense estimates increased modestly. As always, property-level measures and professional management can help mitigate impacts, and trend monitoring should be incorporated into underwriting.
This 80-unit asset sits in one of Chico’s stronger inner-suburb neighborhoods, combining amenity density with a deep renter pool. Neighborhood occupancy is around the metro midpoint, but the renter-occupied share ranks in the top quartile nationally, indicating a broad base of prospective tenants and support for leasing stability. Elevated home values relative to income further reinforce reliance on multifamily housing, which can underpin demand across cycles.
Households within a 3-mile radius have grown and are projected to continue increasing, while average household size trends smaller—conditions that typically expand the renter pool and support absorption, according to CRE market data from WDSuite. Rents benchmark above national medians yet remain relatively manageable versus incomes locally, a setup that can aid retention while allowing measured revenue optimization. Key watch items include submarket safety metrics and modest occupancy softening over the past five years, which argue for disciplined operations and targeted capital plans.
- Strong renter concentration supports tenant demand and leasing velocity
- Amenity-rich inner suburb with above-median schools and daily conveniences
- High-cost ownership market reinforces reliance on rental housing and occupancy stability
- 3-mile household growth and smaller household sizes expand the renter pool
- Risks: below-average safety metrics and slight occupancy softening require active management