| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Best |
| Demographics | 62nd | Good |
| Amenities | 86th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2002 Huntington Dr, Chico, CA, 95928, US |
| Region / Metro | Chico |
| Year of Construction | 1999 |
| Units | 72 |
| Transaction Date | 2002-01-30 |
| Transaction Price | $5,110,000 |
| Buyer | HUNTINGTON APARTMENTS LLC |
| Seller | FOGARTY THOMAS V |
2002 Huntington Dr Chico Multifamily Investment
This 72-unit property built in 1999 positions investors in a neighborhood ranking 2nd among 74 metro neighborhoods with strong renter demand and 59% rental occupancy share. Commercial real estate analysis from WDSuite indicates above-average amenity access and median rents of $1,291.
Built in 1999, this property represents newer construction compared to the neighborhood average of 1991, potentially reducing near-term capital expenditure requirements. The neighborhood earns an A+ rating and ranks 2nd among 74 metro neighborhoods, reflecting strong fundamentals for multifamily investors. With 59% of housing units occupied by renters—ranking in the top quartile nationally—the area demonstrates robust rental demand that supports occupancy stability.
Neighborhood-level occupancy sits at 89.5% with median contract rents of $1,291, showing 34% growth over the past five years. The area benefits from strong amenity density, ranking in the 86th percentile nationally for overall amenities. Residents have access to 2.17 cafes per square mile and 1.74 grocery stores per square mile, both ranking in the top quartile nationally and supporting tenant retention through convenience.
Demographics within a 3-mile radius show a population of approximately 39,285 with household growth of 12% over five years. The area maintains a balanced age distribution with 31% of residents aged 18-34 and median household income of $77,582. Forecast data suggests household formation will continue growing by 40% through 2028, expanding the potential renter pool and supporting sustained multifamily demand.
Home values average $396,745 with 50% growth over five years, creating affordability pressures that reinforce rental demand. The rent-to-income ratio of 0.24 suggests manageable affordability for tenants while maintaining pricing power for operators. Schools in the area average 3.5 out of 5 stars, ranking in the 73rd percentile nationally and contributing to family renter appeal.
Crime metrics indicate areas for consideration in this neighborhood. Property offense rates rank 65th among 74 metro neighborhoods with an estimated rate of 2,872 incidents per 100,000 residents, placing the area in the 6th percentile nationally. Violent crime shows similar patterns, ranking 65th locally and in the 14th percentile nationally with 332 incidents per 100,000 residents.
While crime rates exceed metro averages, property offense rates have remained stable year-over-year with 0% change, and violent crime increased 9.6% annually. Investors should factor security considerations into property management strategies and tenant screening processes. The neighborhood's strong amenity access and rental demand fundamentals may help offset security concerns for many prospective tenants.
Employment data for major nearby employers is not available in the current dataset. Investors should conduct additional due diligence on local employment anchors, particularly focusing on California State University Chico and healthcare systems that typically support rental housing demand in college-adjacent markets.
This 72-unit property offers exposure to a top-tier neighborhood with exceptional rental fundamentals. Built in 1999, the asset benefits from newer construction relative to area averages while avoiding the premium associated with new development. The neighborhood's 59% rental occupancy share and A+ rating reflect sustained multifamily demand supported by strong amenity density and population growth trends.
According to CRE market data from WDSuite, the area demonstrates resilient rental fundamentals with occupancy rates of 89.5% and rent growth of 34% over five years. Household formation projections indicate 40% growth through 2028, expanding the renter pool while home values averaging $396,745 maintain affordability pressures that support rental demand. The property's 1999 vintage positions investors for stable operations with manageable capital expenditure requirements.
- Ranks 2nd among 74 metro neighborhoods with A+ rating and strong rental fundamentals
- 59% rental occupancy share creates deep tenant pool in top quartile nationally
- 1999 construction offers newer vintage with reduced near-term capital needs
- 40% projected household growth through 2028 supports occupancy stability
- Crime rates rank below metro averages requiring enhanced security considerations