| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Fair |
| Demographics | 48th | Fair |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 353 Rio Lindo Ave, Chico, CA, 95926, US |
| Region / Metro | Chico |
| Year of Construction | 1976 |
| Units | 45 |
| Transaction Date | 2003-11-19 |
| Transaction Price | $3,350,000 |
| Buyer | FRANCIS REED G |
| Seller | ELVIDGE RONALD P |
353 Rio Lindo Ave, Chico Multifamily Investment
Stabilized renter demand in an inner-suburban pocket of Chico, according to WDSuite’s CRE market data, with neighborhood occupancy holding around the metro median and solid daily-needs access supporting leasing durability.
This inner-suburban location combines everyday convenience with steady renter appeal. Neighborhood amenity access is a relative strength for Chico: grocery options are among the most concentrated locally (ranked 1st of 74 neighborhoods), and dining and cafe density are competitive, while parks and dedicated childcare options are limited. For investors, the strong daily-needs mix supports leasing and retention even if green space and family-oriented services require residents to look to adjacent areas.
Rents in the neighborhood sit above the metro median (ranked 27th of 74), and occupancy is also above the metro median (ranked 36th of 74), based on CRE market data from WDSuite. The share of renter-occupied housing is competitive among Chico neighborhoods (ranked 16th of 74; high national percentile), signaling a deep tenant base that can support consistent absorption and renewal activity. These metrics describe the neighborhood broadly rather than the specific property.
Within a 3-mile radius, demographics show population growth over the past five years, with households expanding at a faster pace and average household size edging lower. This points to a larger, more diffuse renter pool over time, which typically supports occupancy stability and sustained interest in professionally managed multifamily communities.
Ownership costs in this area are relatively accessible compared with many coastal California markets, which can introduce some competition from entry-level homeownership. Even so, the neighborhood’s moderate rent-to-income profile and high renter concentration suggest resilient multifamily demand, with pricing power more likely to be realized through steady operations than outsized rent jumps.
Safety indicators are mixed. Relative to the Chico metro, the neighborhood ranks 61st of 74 for overall crime (higher ranks indicate comparatively safer standing in this framework), but it sits below the national median by percentile. For investors, this translates to conditions that are competitive locally yet not a standout nationally.
Recent trends are nuanced: property offenses show year-over-year improvement, while violent offense metrics have moved higher. These are neighborhood-level signals rather than block-specific readings; ongoing monitoring and on-site management practices remain important levers for tenant experience and retention.
353 Rio Lindo Ave is a 45-unit asset built in 1976, offering potential value-add and capital planning opportunities typical of 1970s vintage product. The surrounding neighborhood shows above-median occupancy and strong renter concentration, with robust daily-needs access (notably grocery and restaurant density) supporting leasing durability. Based on CRE market data from WDSuite, neighborhood rent levels sit above the metro median, and a growing 3-mile household base points to a larger tenant pool over time.
Counterbalancing factors include a safety profile that trails national benchmarks and relatively accessible ownership costs that can compete with rentals at certain price points. Even so, the combination of renter depth, everyday amenity strength, and value-add potential positions this property as a pragmatic, operations-focused play rather than a momentum rent-growth story.
- Neighborhood occupancy and rents track above the metro median, supporting stable operations.
- 1976 vintage offers clear renovation and systems-upgrade pathways for value-add.
- Strong daily-needs access (grocery, dining) underpins retention and leasing velocity.
- Expanding 3-mile household base suggests a larger renter pool and demand support.
- Risks: below-national safety standing and potential competition from relatively accessible ownership options.