| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Fair |
| Demographics | 48th | Fair |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 595 E Lassen Ave, Chico, CA, 95973, US |
| Region / Metro | Chico |
| Year of Construction | 1989 |
| Units | 38 |
| Transaction Date | 2025-06-09 |
| Transaction Price | $4,650,500 |
| Buyer | WILLIAM B MCGUIRE 2011 REVOCABLE TRUST |
| Seller | JAMES W LEDGERWOOD LIVING TRUST |
595 E Lassen Ave, Chico Multifamily Investment Opportunity
Neighborhood fundamentals indicate steady renter demand and occupancy stability, according to WDSuite s CRE market data for the immediate area. The surrounding neighborhood not the property shows renter concentration and solid daily-needs access, supporting consistent leasing.
The property sits in an Inner Suburb location of Chico rated A- by WDSuite, ranked 18th among 74 metro neighborhoods. At the neighborhood level, occupancy trends are above the metro median, a constructive signal for rent roll durability. Renter-occupied housing comprises a majority share in the neighborhood, placing it in the top quartile locally for renter concentration, which supports depth of the tenant base.
Amenities are a relative strength. The neighborhood ranks first out of 74 for grocery store density and is competitive for restaurants and cafes (both ranking within the stronger cohort of the metro), helping bolster livability and day-to-day convenience for residents. Limited nearby parks and formal childcare options are weaker points to underwrite, but these are balanced by strong access to daily services and food-retail.
Within a 3-mile radius, population and household counts have grown over the past five years, and WDSuite s forward look points to continued household growth alongside gradually smaller household sizes. For multifamily investors, this pattern can translate to a larger renter pool and support for occupancy stability and absorption over a longer hold.
Home values in the neighborhood are relatively accessible in a national context, while rent-to-income metrics indicate manageable affordability pressure locally. For operators, that combination can aid lease retention and measured pricing power without overextending tenants, provided management remains attentive to renewal strategies and income segmentation.
Vintage context: most neighborhood stock skews to the late 1970s. A 1989 build competes favorably against older assets while still meriting periodic system updates, unit refreshes, and common-area improvements to maintain positioning versus newer deliveries.
Safety indicators are mixed in a way investors should contextualize. Relative to the Chico metro, the neighborhood s crime rank sits in the stronger tier (top quartile among 74 neighborhoods). Nationally, however, WDSuite s percentiles place the area below the U.S. median for safety, signaling the need for prudent security measures and resident-experience management.
Recent trend data shows property offenses declining year over year in the neighborhood, while violent-offense metrics have moved higher. Operators should underwrite with current comps and consider lighting, access control, and community engagement to support resident retention and asset perception.
595 E Lassen Ave is a 38-unit, 1989-vintage asset positioned in a neighborhood that ranks above the metro median for occupancy and sits in the top quartile locally for renter concentration. According to CRE market data from WDSuite, the area benefits from strong daily-needs access (notably grocery, restaurants, and pharmacies), which supports leasing resilience and day-to-day convenience for residents. The 1989 construction is newer than the neighborhood s average stock, offering a competitive edge versus older comparables while leaving room for targeted value-add to sustain rent momentum.
Within a 3-mile radius, population and households have expanded and are projected to keep growing, with smaller household sizes over time rends that can enlarge the renter pool and support occupancy stability. Neighborhood-level affordability metrics suggest manageable rent-to-income conditions, aiding renewals and operational consistency, while acknowledging that more accessible ownership options in the broader market may add some competitive pressure and should be reflected in pricing and amenity strategy.
- Above-metro neighborhood occupancy and strong renter concentration support stable leasing
- 1989 vintage competes well versus older stock with room for selective value-add
- Robust daily-needs access (groceries, restaurants, pharmacies) reinforces livability and retention
- 3-mile population and household growth point to a larger renter pool and absorption support
- Risk: below-national-median safety metrics and ownership competition warrant conservative underwriting and active management