| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Good |
| Demographics | 89th | Best |
| Amenities | 11th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2590 California Park Dr, Chico, CA, 95928, US |
| Region / Metro | Chico |
| Year of Construction | 1988 |
| Units | 84 |
| Transaction Date | 2021-02-24 |
| Transaction Price | $12,750,000 |
| Buyer | RAMOS FAMILY INVESTMENTS LLC |
| Seller | SFINVEST PARK LP |
2590 California Park Dr Chico Multifamily Investment
Suburban Chico submarket with high-cost ownership dynamics supports renter reliance and steady tenant demand, according to WDSuite’s CRE market data. Neighborhood occupancy trends sit near the metro middle, suggesting stable but competitive leasing conditions for professionally managed assets.
The property sits in a suburban pocket of Chico rated A- and ranking in the top quartile among 74 metro neighborhoods, per WDSuite’s CRE market data. Household incomes and educational attainment trend in the top decile nationally, which typically supports durable rent collections and a deeper pool of qualified tenants relative to many peer submarkets.
Renter-occupied housing comprises a smaller share of the neighborhood’s units (25.5%), indicating a primarily owner-occupied area. For multifamily investors, this points to a stable but thinner renter pool locally, with demand often anchored by residents prioritizing proximity and quality over sheer unit availability. Neighborhood occupancy is around the metro middle, reinforcing the need for disciplined leasing and tenant retention strategies rather than outsized concessions.
Elevated home values (top decile nationally) characterize a high-cost ownership market, which can sustain rental demand and support lease retention even as residents weigh buy-versus-rent decisions. At the same time, the neighborhood’s rent-to-income ratio trends comfortably managed, implying lower affordability pressure and potentially steadier renewal behavior compared with more stretched submarkets.
Amenities within the immediate blocks are limited by suburban density, with fewer cafés, restaurants, and daily-needs retail than urban cores. Investors should view this as a positioning opportunity: emphasize on-site conveniences, parking, and access to broader Chico services. Demographic data aggregated within a 3-mile radius show recent population growth alongside a faster increase in households and a trend toward smaller household sizes; forward projections indicate households continuing to rise even if population softens, which can expand the renter pool and support occupancy stability.
Safety metrics for the neighborhood are mixed compared with national benchmarks. Overall crime performance trends below the national median, while both violent and property incident levels sit near the national midpoint, according to WDSuite’s CRE market data. Recent year readings indicate an uptick in reported incidents, suggesting investors should incorporate prudent security measures and active property management into underwriting and asset plans.
Within the Chico metro context (74 neighborhoods), the area performs closer to the middle of the pack rather than the top tier. For investors, the takeaway is to underwrite realistic operating practices—lighting, access control, and resident engagement—to support retention and protect NOI, rather than relying solely on neighborhood effects.
Built in 1988, the asset is newer than the neighborhood’s average vintage and can compete well against older stock, though selective modernization of interiors and building systems may be prudent to sustain pricing power. The submarket’s high-cost ownership environment and manageable rent-to-income dynamics support tenant retention and steady collections, while neighborhood occupancy sits near the metro middle—rewarding hands-on leasing and renewals over heavy concessions, per commercial real estate analysis from WDSuite.
Within a 3-mile radius, households have grown faster than population and are projected to keep expanding even if population moderates, implying smaller household sizes and a broader renter pool over time. Amenity density is modest locally, so properties that deliver convenience, parking, and professional management can differentiate and maintain occupancy.
- 1988 vintage offers competitive positioning versus older neighborhood stock; target focused renovations for rent and retention upside.
- High-cost ownership market supports renter reliance and lease stability for quality multifamily assets.
- Manageable rent-to-income dynamics point to steady collections and lower renewal friction.
- Household growth and smaller household sizes within 3 miles expand the tenant base, supporting occupancy over time.
- Risks: limited immediate amenity density, mixed safety trends, and mid-pack neighborhood occupancy require active management and realistic underwriting.