| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 63rd | Good |
| Amenities | 47th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 463 Posada Way, Chico, CA, 95973, US |
| Region / Metro | Chico |
| Year of Construction | 1979 |
| Units | 24 |
| Transaction Date | 2007-01-29 |
| Transaction Price | $2,400,000 |
| Buyer | BENGTSON KIRK |
| Seller | HIGNELL THOMAS E |
463 Posada Way Chico Multifamily Investment
This 24-unit property benefits from Chico's stable rental market dynamics, with neighborhood occupancy rates remaining above metro averages according to WDSuite's CRE market data.
Located in Chico's inner suburb market, this neighborhood ranks 15th among 74 metro neighborhoods for overall investment fundamentals. The area maintains a 94.4% occupancy rate, positioning above metro median performance and reflecting solid tenant retention dynamics. With 53.6% of housing units occupied by renters—ranking in the top quartile nationally—the neighborhood demonstrates strong rental demand fundamentals that support multifamily investment strategies.
Demographics within a 3-mile radius show a population of approximately 68,100 residents with projected household growth of 33.9% through 2028. This expansion translates to roughly 9,300 additional households entering the market, supporting occupancy stability and potential rent growth. The median household income of $74,409 provides adequate rental affordability, with rent-to-income ratios maintaining reasonable levels for the market.
Built in 1979, this property aligns closely with the neighborhood's average construction year of 1976, minimizing obsolescence risk while positioning the asset for targeted renovations and value-add opportunities. Local amenities include moderate grocery store and restaurant density, with childcare facilities ranking in the top quartile nationally—factors that enhance tenant appeal and retention potential.
Home values averaging $447,102 with 61% growth over five years create a pricing dynamic that can keep households in the rental market longer, particularly as ownership costs remain elevated relative to rental alternatives in the current interest rate environment.
Safety metrics place this neighborhood at moderate levels relative to other Chico area locations, ranking 47th out of 74 metro neighborhoods for overall crime measures. Property offense rates have declined 10.8% year-over-year, indicating improving trends that can support tenant retention and property values.
Violent crime statistics show the area ranking 58th among metro neighborhoods, with rates also trending downward by 6.6% annually. While safety performance sits below metro averages, the improving trajectory suggests stabilizing conditions that investors should monitor alongside local law enforcement initiatives and community development efforts.
Employment data for major anchor employers in the immediate vicinity is not available in the current dataset, limiting analysis of walkable job centers that typically drive rental demand and tenant stability.
This 24-unit Chico property offers exposure to a rental-dominant neighborhood with above-average occupancy fundamentals and projected demographic expansion. The 1979 construction year aligns with area building stock while creating value-add renovation opportunities. Household growth projections of 33.9% through 2028 support long-term tenant demand, while current rent-to-income ratios remain within acceptable affordability ranges for the local market.
According to multifamily property research from WDSuite, the neighborhood's 94.4% occupancy rate and top-quartile rental share nationally indicate established rental market dynamics. Home price appreciation of 61% over five years creates an ownership cost barrier that can extend tenant retention periods, particularly beneficial for cash flow stability and renewal rates.
- Neighborhood occupancy of 94.4% exceeds metro median performance
- Projected household growth of 33.9% through 2028 supports rental demand
- 1979 vintage creates value-add renovation and modernization upside
- Top-quartile rental share nationally indicates established rental market
- Risk consideration: Crime metrics rank below metro average, requiring ongoing monitoring