| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Best |
| Demographics | 61st | Good |
| Amenities | 24th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2770 Eaton Rd, Chico, CA, 95973, US |
| Region / Metro | Chico |
| Year of Construction | 1991 |
| Units | 100 |
| Transaction Date | 2025-08-25 |
| Transaction Price | $11,600,000 |
| Buyer | HARRISON REVOCABLE TRUST |
| Seller | EASTWOOD COURT LP |
2770 Eaton Rd Chico Multifamily Investment
This 100-unit property in Chico's inner suburb neighborhood benefits from strong rental demand dynamics, with 50.5% of area housing units renter-occupied and neighborhood occupancy rates at 93.6%.
Built in 1991, this property sits within an inner suburb neighborhood ranked 24th among 74 Chico metro neighborhoods, earning a B+ rating. The 1991 construction year aligns with the neighborhood's 1979 average, positioning the asset for potential value-add opportunities through strategic renovations and unit improvements.
Demographics within a 3-mile radius show a balanced tenant base with 32% of residents aged 18-34 and 33.5% aged 35-64. Household income metrics indicate solid rental affordability, with median household income of $88,164 ranking in the 64th percentile nationally. The neighborhood's 43.6% rental occupancy share ranks in the 83rd percentile nationally, demonstrating strong multifamily housing reliance in this market.
Local amenities support tenant retention with 1.02 grocery stores per square mile (71st percentile nationally) and 3.05 restaurants per square mile (73rd percentile nationally). The median contract rent of $1,173 has grown 29.5% over five years, while maintaining a rent-to-income ratio of 0.16 that suggests manageable affordability for area renters.
Home values averaging $415,956 with 41.7% five-year appreciation reinforce rental demand, as elevated ownership costs sustain reliance on multifamily housing. The neighborhood's 93.6% occupancy rate ranks in the 63rd percentile nationally, indicating stable absorption and tenant retention dynamics.
Safety metrics show the neighborhood ranking 39th among 74 Chico metro neighborhoods for overall crime, placing it near the metro median. Property offense rates of 722 per 100,000 residents rank in the 29th percentile nationally, while violent crime rates of 115 per 100,000 residents also rank in the 29th percentile nationally.
Recent trends indicate improving conditions, with property crime declining 5.8% year-over-year and violent crime dropping 36% annually, the latter ranking in the 78th percentile nationally for improvement. These downward crime trends support neighborhood stability and tenant retention considerations for multifamily investments.
The Chico employment market centers around education, healthcare, and government services, providing stable workforce housing demand for area multifamily properties.
- California State University, Chico — higher education
- Enloe Medical Center — healthcare services
- Butte County — government services
- Chico Unified School District — education
This 100-unit property benefits from Chico's stable rental fundamentals, with neighborhood occupancy at 93.6% and strong demographic support from a balanced age distribution. The 1991 construction vintage presents value-add potential through strategic improvements, while the area's 50.5% renter occupancy rate and elevated home values sustaining rental demand provide a solid foundation for long-term cash flow stability.
According to CRE market data from WDSuite, the neighborhood ranks in the top third of Chico submarkets for housing fundamentals, with rent growth of 29.5% over five years and projected household growth of 36.1% through 2028. The property's 748-square-foot average unit size aligns with local market preferences while maintaining affordability at current rent levels.
- Strong occupancy fundamentals with 93.6% neighborhood rate above metro median
- Value-add opportunity through 1991 vintage requiring strategic capital improvements
- Stable employment base anchored by CSU Chico and healthcare services
- Risk consideration: Property crime rates rank below national median requiring ongoing security management