| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 63rd | Good |
| Amenities | 47th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3432 Esplanade, Chico, CA, 95973, US |
| Region / Metro | Chico |
| Year of Construction | 2013 |
| Units | 50 |
| Transaction Date | 2011-08-16 |
| Transaction Price | $500,000 |
| Buyer | COMMUNITY ACTION AGENCY OF BUTTE COUNTY |
| Seller | LAWS INVESTMENT COMPANY |
3432 Esplanade, Chico CA Multifamily Investment
Stabilized renter demand and a newer 2013 build position this 50-unit asset for durable performance, according to WDSuite s CRE market data. Neighborhood occupancy is solid and renter concentration supports tenant depth for mid-market pricing.
Located in an inner-suburb pocket of Chico rated A-, the neighborhood shows competitive fundamentals among 74 metro neighborhoods, with occupancy in the neighborhood holding near the upper half of the metro and renter-occupied housing at a majority share. For investors, that renter concentration (53.6% of housing units) translates to a dependable tenant base and supports leasing stability.
Livability indicators are mixed but serviceable: park access and childcare density rank in the stronger half of the metro (both above metro median), while cafes and pharmacies are thinner. Average school ratings trend modestly above national midline (around 3.0 out of 5), which can aid family retention without commanding premium rents. The neighborhood s median home values sit in a higher-cost ownership context (around the 80th percentile nationally), reinforcing reliance on multifamily housing and helping maintain pricing power for well-kept assets.
Within a 3-mile radius, population and households have expanded over the past five years, and WDSuite s commercial real estate analysis indicates continued household growth ahead. Household gains outpace overall population, implying slightly smaller household sizes and a broader pool of renters entering the market both supportive of occupancy stability and steady lease-up for similar assets.
Rent levels in the neighborhood sit above the national midline while the rent-to-income ratio (about 0.20) suggests manageable affordability pressure relative to many California submarkets. That balance can support retention and modest renewal pricing, particularly for properties that maintain quality and convenience.
Safety metrics are mixed versus regional and national benchmarks. The neighborhood s crime rank sits in the lower half among 74 Chico metro neighborhoods, and national comparisons place it below the nationwide midline. However, recent trends show improvement, with both property and violent offense rates declining year over year, indicating gradual stabilization rather than deterioration.
For investors, the takeaway is to underwrite with prudent security and operational measures while recognizing the directional improvement. Positioning a 2013-vintage asset with good lighting, access control, and active management can help align with the area s trend toward better outcomes.
Built in 2013, the property is materially newer than the neighborhood s older housing stock, providing competitive positioning versus 1970s-era product while leaving room for targeted updates over the hold. Neighborhood occupancy is competitive among Chico submarkets and renter-occupied housing is a majority, supporting a deeper tenant base and steadier leasing. Elevated ownership costs in the area sustain demand for rentals, while the 3-mile radius shows household growth that points to a larger renter pool and supports long-run occupancy stability. According to CRE market data from WDSuite, neighborhood rents trend above national midline with rent-to-income near 0.20, balancing revenue potential with retention.
Key risks include safety metrics that trail national averages despite improving trends, and amenity density that is uneven (strong parks/childcare, lighter cafes/pharmacies), which places more emphasis on on-site convenience. Overall, the asset s newer vintage, steady renter demand, and favorable ownership-versus-rent dynamics underpin a straightforward long-term, operations-led thesis.
- 2013 vintage outcompetes older local stock; scope for selective modernization
- Competitive neighborhood occupancy and majority renter-occupied housing support leasing stability
- Higher-cost ownership market reinforces rental demand and pricing power
- 3-mile household growth expands the renter pool, aiding long-run occupancy
- Risk: safety metrics trail national averages; underwrite for continued security and active management