| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 63rd | Good |
| Amenities | 47th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 453 Posada Way, Chico, CA, 95973, US |
| Region / Metro | Chico |
| Year of Construction | 1980 |
| Units | 20 |
| Transaction Date | 2003-04-22 |
| Transaction Price | $617,500 |
| Buyer | PEMBLE ROBERT D |
| Seller | BARRY DENNIS |
453 Posada Way Chico Multifamily Investment Thesis
Neighborhood occupancy trends above national norms and a deep renter base signal steady leasing conditions, according to WDSuite's CRE market data. Investors should view this location as a stable, renter-driven submarket where pricing power is supported by local fundamentals rather than short-term volatility.
The property sits in an Inner Suburb neighborhood rated A- and ranked 15 out of 74 within the Chico metro, positioning it as competitive among Chico neighborhoods. Neighborhood occupancy is above the national median, and renter-occupied housing accounts for a majority of units, indicating a deeper tenant base and potential for steadier renewal velocity at the neighborhood level.
Livability drivers are balanced. Park access and childcare availability are strong (both well above national medians), grocery and restaurant density perform above the metro median, while cafes and pharmacies are limited. Average school ratings trend modestly above the national midpoint and rank in the upper tier locally, which can support family-oriented renter retention without being the primary demand driver.
Rents in the neighborhood sit above national norms with multi-year growth, while the rent-to-income ratio remains manageable for many households, supporting lease retention and reducing turnover risk. Home values are elevated relative to most U.S. neighborhoods, creating a high-cost ownership market that tends to sustain demand for multifamily rentals and supports occupancy stability.
Demographic statistics aggregated within a 3-mile radius indicate population and household growth over the last five years, with forecasts calling for continued gains and modestly smaller household sizes by 2028. This pattern expands the renter pool and supports ongoing multifamily demand, helping stabilize occupancy and underpinning mid-cycle leasing performance based on CRE market data from WDSuite.
Relative to the 74 neighborhoods in the Chico metro, this area trends near the middle on reported crime, placing it close to the metro median rather than at either extreme. Nationally, the neighborhood sits below the median for safety, so investors should plan for standard security measures and responsive property management to support tenant confidence.
Recent data show year-over-year declines in both property and violent offenses, indicating gradual improvement. While not a low-crime outlier, the direction of change is favorable and can complement retention when paired with visible safety practices and well-maintained common areas.
This 20-unit asset at 453 Posada Way benefits from a renter-driven location where neighborhood occupancy trends above national norms and homeownership costs are elevated, reinforcing reliance on multifamily housing. According to CRE market data from WDSuite, the neighborhood ranks competitively within the Chico metro on overall quality and shows rent levels above national averages with sustained growth, supporting stable revenue performance.
Built in 1980, the property is slightly newer than the neighborhood's average vintage, offering relative competitiveness versus older stock while still presenting potential value-add through targeted system upgrades and modernization. Within a 3-mile radius, population and households have grown and are expected to continue expanding as average household size declines, which generally points to a larger renter pool and supports occupancy stability over the medium term.
- Renter-oriented neighborhood with occupancy above national norms supports steady leasing and renewals.
- Elevated ownership costs sustain multifamily demand and help underpin pricing power.
- 1980 vintage offers competitive positioning with clear modernization/value-add pathways.
- 3-mile area household growth and smaller household sizes point to renter pool expansion.
- Risk: amenity mix is uneven and safety is below the national median; proactive operations and security investment are important.