| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Best |
| Demographics | 62nd | Good |
| Amenities | 86th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 20 Fremont St, Chico, CA, 95928, US |
| Region / Metro | Chico |
| Year of Construction | 1979 |
| Units | 20 |
| Transaction Date | 2000-09-12 |
| Transaction Price | $947,000 |
| Buyer | THUMATI DR RAMA KRISHNA REDDY |
| Seller | MAFFIA ROMEO P |
20 Fremont St, Chico Multifamily Investment
Amenity density and a high renter concentration at the neighborhood level point to durable leasing fundamentals, according to WDSuite’s CRE market data, with positioning suited to workforce demand in Chico’s inner-suburban core.
Located in an inner-suburb of Chico, the property benefits from neighborhood-level strengths that matter for multifamily: restaurants, cafes, groceries, parks, and pharmacies cluster nearby, with the area ranking competitively for daily-needs access among 74 metro neighborhoods and landing in the upper national percentiles for food-and-beverage and convenience amenities. Average school ratings trend above many U.S. neighborhoods, which can support longer tenancy among households.
Neighborhood occupancy is 89.5% (neighborhood-level, not property-specific) and sits around the metro middle, suggesting steady but competitive leasing conditions. Importantly for demand depth, 59.1% of housing units in the neighborhood are renter-occupied, indicating a sizable tenant base that supports absorption and renewal potential for multifamily assets.
Within a 3-mile radius, demographics indicate a larger renter pool over time: over the last five years, population rose modestly while households increased faster, and forecasts show smaller average household sizes. That combination typically points to more renters entering the market and can support occupancy stability and unit absorption, even if population growth moderates.
Home values in the neighborhood are elevated relative to incomes, placing the area in a higher national percentile for value-to-income. In practice, a higher-cost ownership market can reinforce reliance on multifamily housing and support pricing power, while a neighborhood rent-to-income ratio near one-quarter suggests room for disciplined revenue management with attention to retention.
The neighborhood’s average building vintage skews newer than this asset; many properties average around the early 1990s. For a 1979 vintage, that gap can translate into value-add opportunities—targeted renovations, system upgrades, and common-area improvements that enhance competitive positioning against newer stock.
Safety indicators are mixed when viewed across geographies. Relative to the 74 neighborhoods in the Chico metro, the area’s crime rank places it on the safer side locally. However, compared with neighborhoods nationwide, the neighborhood falls below the national median for safety, and property offenses trend higher than many U.S. areas. Investors should underwrite sensible security measures and factor in operating practices that support resident comfort and retention.
This 20-unit, 1979-vintage asset offers a practical value-add angle in a neighborhood with strong amenity access and a deep renter base. At the neighborhood level, renter-occupied housing comprises a majority of units, and occupancy runs near the metro middle—conditions that typically support steady leasing while rewarding thoughtful renovations. According to CRE market data from WDSuite, the area rates among the top neighborhoods in the Chico metro for overall quality and daily-needs access, positioning well for workforce demand.
Within a 3-mile radius, households have grown faster than population and are projected to expand further as average household size declines, a pattern that can broaden the tenant base and support occupancy stability. Elevated home values relative to incomes reinforce reliance on rentals, while neighborhood rent-to-income levels suggest scope for disciplined revenue strategies. The 1979 vintage implies capital planning—unit interiors, building systems, and curb appeal—can unlock incremental rent and retention versus newer nearby stock. Key risks include nationally weaker safety benchmarks and competition from newer properties, both manageable with targeted improvements and prudent operations.
- Amenity-rich inner-suburban location with strong neighborhood access to groceries, dining, parks, and pharmacies.
- Majority renter-occupied neighborhood supports demand depth and renewal potential for multifamily.
- Household growth within 3 miles and smaller projected household sizes expand the renter pool, aiding occupancy stability.
- 1979 vintage provides value-add upside through interior refreshes and system upgrades to compete with newer stock.
- Risks: nationally weaker safety metrics and competition from newer assets; mitigate through security practices and targeted renovations.