| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 63rd | Good |
| Amenities | 47th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 286 E Lassen Ave, Chico, CA, 95973, US |
| Region / Metro | Chico |
| Year of Construction | 1973 |
| Units | 52 |
| Transaction Date | 2002-05-06 |
| Transaction Price | $342,500 |
| Buyer | PALO VERDE APARTMENTS LLC |
| Seller | EISLER BENJAMIN DAVID |
286 E Lassen Ave, Chico CA Multifamily Investment
Neighborhood occupancy is competitive among Chico submarkets and renter concentration is high, pointing to a stable tenant base according to WDSuite’s CRE market data.
Located in an inner-suburb pocket of Chico, the neighborhood scores A- overall and performs above the metro median on several renter-demand drivers. Neighborhood occupancy is 94.4% (ranked 25 out of 74), which is competitive among Chico neighborhoods and above the national mid-point, supporting income stability for professionally managed assets.
Renter-occupied housing accounts for 53.6% of units (ranked 15 of 74; top quartile nationally), indicating deep multifamily demand and a broad leasing funnel. Elevated home values (80th percentile nationally) signal a higher-cost ownership market that tends to sustain reliance on rental housing, which can aid retention and pricing discipline for well-run properties.
Local amenities are mixed: parks density sits in the national top quartile, while grocery and restaurant access track around the national middle. Cafe and pharmacy density are limited, which may modestly reduce walk-to convenience but does not materially diminish the submarket’s appeal for workforce renters. Schools average 3.0 out of 5 (above the national midpoint), aligning with a broad renter profile.
Demographics within a 3-mile radius show population growth over the last five years and a faster increase in households, expanding the renter pool and supporting occupancy stability going forward. Forecasts point to continued household gains alongside rising incomes, which reinforces demand for quality rentals even as rent levels trend higher.
The property’s 1973 vintage is slightly older than the neighborhood’s typical 1976 construction, suggesting practical capital planning for building systems and selective renovations. For investors, that creates potential value-add upside through modernization while remaining competitive against older local stock.
Safety metrics sit below national averages but have been trending in a favorable direction. The neighborhood’s crime rank is 47 out of 74 within the Chico metro, placing it below the metro median for safety, while national percentiles indicate conditions are weaker than the U.S. midpoint. Recent one-year declines in both property and violent offense rates point to gradual improvement, which investors can monitor as part of lease management and retention planning.
This 52-unit, 1973-vintage asset sits in a renter-heavy pocket of Chico where neighborhood occupancy is competitive among local peers and homeownership costs are elevated versus national norms. These dynamics support a durable tenant base and measured pricing power, especially for assets that deliver reliable operations and refreshed interiors. Based on CRE market data from WDSuite, neighborhood rents and incomes track around the national middle, which helps balance affordability pressure and supports retention.
Forward demand is underpinned by 3-mile radius demographics showing growth in households and incomes, reinforcing a larger renter pool and potential for steady lease-up and renewal activity. The property’s slightly older vintage points to value-add potential through targeted system upgrades and modernization, while acknowledging routine capex planning. Investors should also weigh neighborhood safety, which trails national norms but has improved year over year.
- Competitive neighborhood occupancy and high renter concentration support income durability
- Elevated local home values reinforce reliance on rentals and pricing discipline
- 3-mile radius household and income growth expand the tenant base, aiding lease stability
- 1973 vintage offers value-add potential via modernization and system upgrades
- Risks: below-average safety metrics and amenity gaps (limited cafes/pharmacies) require proactive management