| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Fair |
| Demographics | 48th | Fair |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2751 El Paso Way, Chico, CA, 95973, US |
| Region / Metro | Chico |
| Year of Construction | 1975 |
| Units | 44 |
| Transaction Date | 2014-04-29 |
| Transaction Price | $4,200,000 |
| Buyer | CHICO WILLOW CREEK LIMITED PARTNERSHIP |
| Seller | BLACK DIAMOND HOLDINGS LLC |
2751 El Paso Way, Chico Multifamily With Stable Renter Demand
Neighborhood metrics indicate above-median renter concentration and steady occupancy, according to WDSuite’s CRE market data, supporting durable leasing fundamentals for this 44-unit asset in Chico, California.
Rated A- and ranked 18 out of 74 Chico metro neighborhoods, the area sits in the top quartile locally, signaling solid fundamentals for investors. As an Inner Suburb, it benefits from everyday convenience: grocery access ranks first in the metro and restaurants are competitive among Chico neighborhoods, while pharmacies and cafes are also well represented. Park space and formal childcare options are limited within the neighborhood footprint, which may influence family-oriented amenity expectations.
Renter-occupied housing comprises a majority of neighborhood units (51.4%), pointing to a deep tenant base for multifamily. Neighborhood occupancy is near the metro median and has been broadly stable, a setup that can support leasing consistency. Rent levels have trended upward over the past five years, and the neighborhood’s rent-to-income profile is moderate, which can aid retention and pricing management across cycles.
Within a 3-mile radius, recent population and household growth, with additional gains forecast, expands the renter pool and supports long-run demand for apartments. Household sizes are trending slightly smaller in projections, which can favor absorption of efficient unit types and support occupancy stability. These dynamics are consistent with commercial real estate analysis validated by WDSuite’s market datasets.
Median home values in the neighborhood sit below many California markets, and the value-to-income ratio is comparatively low. This more accessible ownership landscape can introduce some competition with entry-level ownership, but the neighborhood’s strong renter concentration and amenity access help sustain multifamily demand and lease retention.
Safety conditions are mixed in a metro context. The neighborhood’s crime rank is 61 out of 74 within the Chico metro, indicating higher incident rates than many local peers. Nationally, the area sits below the median for safety based on percentile comparisons. Recent trends are nuanced: estimated property offenses decreased year over year, while estimated violent incidents increased, underscoring the importance of ongoing monitoring and appropriate property-level security measures.
This 1975-vintage, 44-unit asset offers value-add potential through targeted renovations while benefiting from a neighborhood that ranks in the top quartile among 74 Chico metro neighborhoods. Amenity depth is a standout—best-in-metro grocery access and competitive dining and pharmacy density—supporting renter appeal. According to CRE market data from WDSuite, the neighborhood maintains near-median occupancy with a majority renter-occupied housing base, a combination that supports leasing stability and retention.
Within a 3-mile radius, population and household growth in recent years, with additional gains forecast, point to a larger tenant base over time. Rent levels have increased over the past five years and are projected to continue rising, while a moderate rent-to-income profile can support retention. Investors should underwrite capital needs typical for 1970s assets and monitor safety and competitive homeownership dynamics.
- Renter depth and near-median occupancy support leasing stability.
- Amenity-rich Inner Suburb with best-in-metro grocery access.
- 1975 vintage provides value-add and modernization potential.
- 3-mile population and household growth expand the tenant base.
- Risks: comparatively elevated crime within the metro and competition from accessible ownership; plan for capex.