| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Best |
| Demographics | 62nd | Good |
| Amenities | 86th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2052 Hartford Dr, Chico, CA, 95928, US |
| Region / Metro | Chico |
| Year of Construction | 2010 |
| Units | 28 |
| Transaction Date | 2023-04-14 |
| Transaction Price | $6,200,000 |
| Buyer | JIM D PETROPOULOS LIVING TRUST |
| Seller | R GUDMUNDSON 2016 TRUST |
2052 Hartford Dr, Chico CA — 2010, 28-Unit Multifamily
Neighborhood-level renter concentration is high and homeownership is relatively costly, supporting durable tenant demand according to WDSuite’s CRE market data. Occupancy is measured for the neighborhood, not the property, and indicates steady but not peak stability, with pricing power tied to amenity access and lease management.
This Inner Suburb pocket of Chico scores A+ overall and ranks 2 out of 74 metro neighborhoods, signalling strong fundamentals for multifamily. Amenity access is a clear strength — cafes, restaurants, groceries, parks, and pharmacies place the area in the top quartile nationally, which tends to support leasing velocity and renewal potential.
At the neighborhood level, occupancy runs in the mid-to-high 80s (ranked around the metro median), while renter-occupied housing share is elevated at 59.1%. For investors, that renter concentration suggests a deep tenant base and demand resilience across cycles, though effective management remains important for retention.
The property’s 2010 construction is newer than the neighborhood’s average vintage (early 1990s), offering competitive positioning versus older stock. Investors can lean on relatively contemporary layouts and systems while planning selective upgrades to keep finishes current and mitigate mid-life capital items.
Within a 3-mile radius, household counts have grown over the last five years and are projected to expand further by 2028 as average household size trends smaller. This points to a larger renter pool and supports occupancy stability. With elevated home values relative to incomes in the neighborhood (high value-to-income ratio) and a rent-to-income ratio near one-quarter, the market context tends to reinforce rental demand while putting a premium on thoughtful lease management.
Schools in the area average mid-to-high ratings (top quartile nationally), which, along with everyday retail and services, enhances livability and broadens the appeal to a diverse renter profile, from young professionals to downsizers.
Safety indicators for this neighborhood track below national averages (around the lower quartile nationwide) and are weaker relative to many Chico subareas. In metro ranking terms (66 out of 74 neighborhoods), this submarket is not among the strongest for safety, which investors should factor into underwriting via marketing, security measures, and renter-profile targeting.
Recent directional data show mixed short-term trends, with property-offense levels essentially flat year over year and violent-offense estimates moving higher. These are neighborhood-level signals rather than block-specific metrics; prudent operators typically address this through lighting, access control, and resident engagement to support retention.
Local employment appears diversified across education, healthcare, services, and retail, supporting workforce housing dynamics and commute convenience; however, no nearby employers with verified mile-based proximity are available to list at this time.
2010 vintage, 28 units, and an amenity-rich Inner Suburb location position 2052 Hartford Dr to compete well against older neighborhood stock. A high share of renter-occupied housing units and growing household counts within 3 miles point to a durable tenant base and support occupancy stability. According to CRE market data from WDSuite, neighborhood occupancy trends are steady but not top-tier, suggesting outcomes will hinge on operations, finish positioning, and marketing to the area’s broad renter pool.
Elevated home values relative to incomes in the neighborhood reinforce reliance on multifamily, while a rent-to-income ratio near one-quarter indicates manageable affordability pressure with room for calibrated rent growth. The 2010 vintage reduces near-term system risk versus older assets, yet investors should plan for mid-life capital items and thoughtful amenity upgrades to preserve competitive standing.
- Newer 2010 construction versus neighborhood average supports competitive positioning and moderates near-term capex.
- High renter-occupied share and growing nearby household counts expand the tenant base and support leasing stability.
- Amenity-rich Inner Suburb location (top-quartile amenities) underpins renewal potential and pricing power.
- Ownership costs are elevated locally, reinforcing demand for rental housing and aiding retention.
- Risks: neighborhood safety ranks below metro average and occupancy is not top-tier, requiring strong operations and targeted improvements.