| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Fair |
| Demographics | 48th | Fair |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 363 Rio Lindo Ave, Chico, CA, 95926, US |
| Region / Metro | Chico |
| Year of Construction | 1990 |
| Units | 20 |
| Transaction Date | 2019-11-22 |
| Transaction Price | $3,000,000 |
| Buyer | LAPANT FARMS LLC |
| Seller | M & K PROPERTIES |
363 Rio Lindo Ave, Chico CA Multifamily Investment
Neighborhood renter demand is supported by strong daily-needs access and stable occupancy, according to WDSuite's CRE market data. The asset's compact unit profile can appeal to value-seeking tenants while helping control operating costs.
Situated in an Inner Suburb pocket that is competitive among Chico neighborhoods (ranked 18 of 74), the area offers reliable renter demand drivers and everyday convenience. Grocery access is a standout with the neighborhood ranking 1 of 74 and trending near the 97th percentile nationally, and restaurants and cafes also score well, indicating walkable lifestyle amenities that can support leasing velocity and retention.
The neighborhood's occupancy is in the low 90s and has been steady in recent years; this reflects area conditions and not the property itself. Median contract rents sit around the middle of the local distribution, while the rent-to-income profile suggests moderate affordability that can aid lease retention. Based on commercial real estate analysis from WDSuite, neighborhood NOI per unit benchmarks are strong relative to the metro, reinforcing the case for consistent income performance.
Construction patterns tilt older locally (average year 1977; rank 16 of 74), while the subject was built in 1990. Being newer than much of the surrounding stock can help competitive positioning, though systems and finishes may still warrant modernization to meet current renter preferences.
Tenure data points to a renter-occupied concentration just over half of housing units at the neighborhood level, indicating a meaningful tenant base for smaller-format apartments. Within a 3-mile radius, population and household counts have grown over the past five years, with projections indicating further household growth alongside smaller average household size. For investors, that combination typically expands the renter pool and supports occupancy stability for efficiently sized units.
Trade-offs to note: dedicated park and childcare facility density is limited in the immediate neighborhood (both rank 74 of 74), which may narrow appeal for family-oriented renters. However, strong access to groceries, pharmacies (rank 9 of 74), and dining (rank 6 of 74) offsets this for many renter cohorts seeking convenience.
Safety conditions should be evaluated carefully. At the metro level, the neighborhood ranks 61 of 74 for crime, indicating higher incident rates than much of Chico. Compared with neighborhoods nationwide, violent incidents benchmark in lower percentiles, while property offenses sit below the national middle but have recently shown modest improvement.
Trend context: according to WDSuite's data, estimated property offense rates declined year over year, which is a constructive signal even as overall safety remains below metro averages. Investors typically underwrite with enhanced security measures and loss-prevention planning in submarkets with similar profiles.
363 Rio Lindo Ave combines a convenient Inner Suburb location with an efficient unit mix that can attract cost-conscious renters. Neighborhood occupancy has been steady in the low 90s, and renter-occupied housing is a slight majority, supporting depth of demand. According to CRE market data from WDSuite, local amenity density - especially groceries, dining, and pharmacies - underpins day-to-day livability that can support leasing and retention.
Built in 1990, the property is newer than much of the surrounding housing stock, suggesting competitive positioning versus older assets while still offering potential value-add upside through modernization of systems and finishes. Within a 3-mile radius, recent and projected growth in households alongside smaller average household size points to a larger renter pool for compact units, which can support occupancy stability and pricing discipline.
- Stable neighborhood occupancy and everyday-needs amenities support leasing durability
- 1990 vintage offers relative competitiveness with room for targeted renovations
- Growing 3-mile household counts and smaller household sizes broaden the renter pool
- Risks: below-metro-average safety and more accessible ownership options may temper pricing power; underwrite security and renewal strategy accordingly