| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 75th | Best |
| Amenities | 38th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1865 E 8th St, Chico, CA, 95928, US |
| Region / Metro | Chico |
| Year of Construction | 1976 |
| Units | 48 |
| Transaction Date | 2014-04-10 |
| Transaction Price | $3,275,000 |
| Buyer | WEBB PAUL GREGORY |
| Seller | SMITH HARLEY J |
1865 E 8th St, Chico CA Multifamily Investment
Positioned in an Inner Suburb pocket that ranks in the top quartile among 74 Chico neighborhoods, the asset benefits from a renter base and occupancy trends that are broadly in line with the metro, according to WDSuite’s CRE market data. Elevated home values in the neighborhood support durable renter demand and potential lease retention.
The neighborhood carries an A rating and ranks 7th of 74 within the Chico metro, placing it in the top quartile locally. For investors, this signals competitive fundamentals versus nearby sub-areas, with neighborhood-level NOI per unit metrics also testing the upper tier nationally. Note that these indicators describe the neighborhood as a whole rather than this specific property.
Livability drivers are mixed but generally supportive. Parks density ranks 3rd of 74 (a strong national percentile), and schools average 4.0/5 with the top rank in the metro, which can reinforce family-oriented renter stability. Grocery access is competitive among Chico neighborhoods, while on-neighborhood dining and pharmacy options are limited, implying residents may rely on nearby corridors for restaurants and services.
Tenure patterns show a renter-occupied share that is above the metro median, pointing to a meaningful multifamily tenant base and demand depth. Neighborhood occupancy is near the metro midpoint, suggesting steady but manageable lease-up and renewal dynamics rather than a tight, supply-constrained setting. Home values test high on a national basis, which tends to keep reliance on multifamily housing elevated and can support pricing power with careful lease management.
Within a 3-mile radius, demographics show recent population growth alongside a faster increase in households and slightly smaller average household sizes—conditions that generally expand the renter pool and support occupancy stability. Rising household incomes in the 3-mile area further underpin rent collections, while forecast household gains point to ongoing demand for rental units, based on CRE market data from WDSuite.
Vintage context: Built in 1976, the property is older than the neighborhood’s average construction year. That age profile typically warrants targeted capital planning (exteriors, systems, and interiors) and can provide value-add upside relative to newer competitive stock.
Neighborhood safety trends are comparatively favorable versus national averages, with overall crime levels scoring above the national median and competitive among Chico neighborhoods. Recent data also indicate a sharp year-over-year decline in property offenses at the neighborhood level, which is a constructive signal for operating stability. These statistics apply to the neighborhood, not to this specific address.
Violent-offense indicators sit closer to the national midpoint, so prudent security measures and resident engagement remain standard best practices. Investors should monitor trend continuity rather than relying on a single period’s readings, using WDSuite’s datasets to track changes over time.
1865 E 8th St offers 48 units in an A-rated Inner Suburb setting where neighborhood performance ranks in the top quartile locally. Occupancy at the neighborhood level is near the metro median, suggesting steady leasing conditions, while a renter-occupied share above the metro median supports demand depth. Elevated home values in the area reinforce reliance on multifamily housing, and within a 3-mile radius, household growth and rising incomes point to a larger, more resilient tenant base—according to CRE market data from WDSuite.
Constructed in 1976, the asset is older than the neighborhood average, creating a clear value-add path through selective renovations and systems upgrades to enhance competitive positioning versus newer stock. On the risk side, immediate dining and pharmacy density is limited within the neighborhood, and occupancy trends have softened modestly in recent years, warranting active leasing and retention management.
- Top-quartile neighborhood ranking in Chico supports competitive positioning
- Renter-occupied share above metro median indicates depth of tenant demand
- Elevated area home values sustain reliance on rentals and pricing power
- 3-mile household growth and rising incomes support occupancy stability
- Risks: limited immediate dining/pharmacy density and modest occupancy softening