| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Good |
| Demographics | 55th | Good |
| Amenities | 50th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 581 Pomona Ave, Chico, CA, 95928, US |
| Region / Metro | Chico |
| Year of Construction | 1986 |
| Units | 28 |
| Transaction Date | 2007-04-26 |
| Transaction Price | $3,110,000 |
| Buyer | 4605 KESTER LLC |
| Seller | SCHWARTZ DAVID |
581 Pomona Ave, Chico CA Multifamily Investment
Positioned in an Inner Suburb of Chico with a high renter concentration and improving occupancy, this asset offers durable tenant demand and potential pricing power, according to WDSuite’s CRE market data.
Chico’s Inner Suburb setting around 581 Pomona Ave ranks 12 out of 74 metro neighborhoods (A-), placing it in the top quartile among local peers. The neighborhood shows a strong renter-occupied share, indicating depth in the tenant base that can support leasing stability through cycles. Neighborhood occupancy is below the metro median but has trended upward in recent years, pointing to gradually firming conditions rather than late-cycle peaking.
Daily-life amenities are reasonably balanced for a suburban location: restaurants, groceries, and pharmacies rank above the metro median, while parks and cafes are limited. Average school ratings in the area are around 3 out of 5, which is competitive among Chico neighborhoods and generally aligns with workforce housing demand. These dynamics can help maintain steady leasing, even if not a draw for top-tier rent premiums.
Home values in the neighborhood are elevated relative to national norms (high national percentile), which typically reinforces reliance on rental housing and supports retention for well-managed units. By contrast, rent-to-income is high locally, a signal for affordability pressure that calls for careful lease management and amenity-value alignment to sustain occupancy.
Within a 3-mile radius, demographics point to a growing renter pool: population and households have expanded in recent years, with forecasts calling for additional household growth and a modest decrease in average household size. For multifamily investors, this implies a larger tenant base and ongoing demand for smaller, well-located units that can support occupancy stability over the medium term. The property’s 1986 construction is newer than the neighborhood’s average vintage (1965), suggesting relative competitiveness versus older stock, while still warranting targeted system and common-area upgrades to drive rentability.
Safety indicators for the neighborhood are mixed when compared with the metro and national landscape. The area’s crime rank is 62 out of 74 within the Chico metro, indicating safety performance below many local peers, while national percentiles place the neighborhood in lower tiers for both property and violent offense comparisons. Recent trend data shows a modest decrease in violent incidents alongside an uptick in property offenses over the past year.
For investors, the takeaway is to underwrite prudent security measures and asset management practices (lighting, access control, and turnover management). Positioning the property’s operations to address these dynamics can help support resident retention and leasing consistency relative to nearby alternatives.
Major employer proximity data with reliable distances is not available for this address at this time. Investors should consider typical Chico demand drivers such as education, healthcare, and local services when assessing commute-oriented renter demand.
The investment case centers on durable renter demand in a neighborhood that is competitive among Chico submarkets and continues to firm. Elevated ownership costs in the area tend to sustain reliance on multifamily housing, while the renter-occupied share is high, suggesting a broad tenant base. Based on CRE market data from WDSuite, neighborhood occupancy has improved over the last several years even though it remains below the metro median, indicating room for operational upside as fundamentals continue to normalize.
Constructed in 1986, the property is newer than the area’s average vintage, which supports relative competitiveness versus older stock. Select capital planning around building systems and resident-facing improvements may unlock value-add potential and enhance retention, particularly as 3-mile demographics point to continued population growth, increasing households, and a slightly smaller average household size that can favor well-managed, smaller units.
- High renter concentration supports depth of demand and leasing stability.
- Neighborhood occupancy trending upward, with potential to close the gap to metro averages.
- Elevated ownership costs locally reinforce reliance on rental housing and retention potential.
- 1986 vintage offers competitive positioning versus older stock with targeted value-add upside.
- Risks: affordability pressure (high rent-to-income) and below-average safety metrics warrant cautious underwriting and proactive management.