| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 63rd | Good |
| Amenities | 47th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 473 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 |
473 Posada Way, Chico CA Multifamily Investment
Neighborhood occupancy is competitive within the Chico metro and supported by a high share of renter-occupied units, according to WDSuite’s CRE market data, suggesting a stable tenant base for a 24-unit asset.
The property sits in an Inner Suburb submarket with an A- neighborhood rating (15th of 74 in the Chico metro), indicating competitive positioning among local multifamily locations. Neighborhood occupancy trends are above the metro median and in the upper tier nationally, which supports leasing stability for comparable assets. Median rent levels in the area are likewise above national midpoints, reinforcing revenue potential while keeping rent-to-income ratios near 0.20 — a level that generally supports retention and measured pricing power for owners.
Renter concentration is elevated, with more than half of housing units renter-occupied (top quartile among 74 Chico neighborhoods; 90th percentile nationally), pointing to a deep tenant base for small to mid-size multifamily. Within a 3-mile radius, demographics show population growth over the last five years and a projected increase in households, alongside a modest reduction in average household size — dynamics that typically expand the renter pool and support occupancy through varying cycles.
Amenity access is competitive locally: parks and childcare options rank in the top quartile among Chico neighborhoods and score above national medians, while grocery and restaurant density are competitive in the metro. Café and pharmacy density are lighter versus national norms, so residents may rely more on a concise set of nearby retail nodes; this is partially offset by park access and day-to-day services that help sustain neighborhood livability.
Construction vintage for nearby stock averages mid-1970s. This asset was built in 1979, slightly newer than the neighborhood average, which can offer relative competitiveness versus older inventory. Investors should still plan for ongoing system upgrades and selective renovations to maintain positioning against refreshed comparables. Elevated home values (around the 80th percentile nationally) indicate a higher-cost ownership market, which tends to sustain rental demand and can aid lease retention for well-managed multifamily.
Safety indicators sit below the metro median (crime rank in the lower half among 74 Chico neighborhoods) and below national medians. Notably, estimated violent and property offense rates have declined over the past year, indicating improving momentum. Investors should underwrite sensible on-site security and management protocols while recognizing the recent downward trend.
The Chico employment base is diversified across education, healthcare, and local services, which supports workforce housing demand and commuting convenience for renters. Specific employer distances were not available for citation in this profile.
This 24-unit property is positioned in a renter-heavy neighborhood with occupancy above the metro median and rents that sit above national midpoints, supporting steady leasing and disciplined pricing. Within a 3-mile radius, recent population growth and a projected increase in households point to a larger tenant base and support for rental demand even as average household size trends lower.
Built in 1979, the asset is slightly newer than the neighborhood average, offering relative competitiveness versus older stock while still warranting targeted system updates and interior refreshes for value-add potential. According to CRE market data from WDSuite, neighborhood rent-to-income near 0.20 supports retention management, though NOI per-unit levels in the area trail national benchmarks, underscoring the need for operational focus.
- Competitive occupancy and renter concentration support leasing stability
- Household growth within 3 miles expands the tenant base and supports demand
- 1979 vintage offers value-add via targeted renovations and system updates
- Rent-to-income levels enable measured pricing power and retention management
- Risk: Area NOI per unit trails national benchmarks; prioritize operations and capex discipline