| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Good |
| Demographics | 62nd | Good |
| Amenities | 27th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 680 Manzanita Ave, Chico, CA, 95926, US |
| Region / Metro | Chico |
| Year of Construction | 1986 |
| Units | 26 |
| Transaction Date | 2001-03-27 |
| Transaction Price | $1,205,000 |
| Buyer | FRANCIS REED |
| Seller | RAMSEY CONSTRUCTION INC |
680 Manzanita Ave Chico Multifamily Investment
This 26-unit property benefits from strong neighborhood-level occupancy at 96% and above-average rent growth, according to CRE market data from WDSuite.
This inner suburb neighborhood ranks in the top quartile among 74 Chico metro neighborhoods for overall investment fundamentals, with a B+ rating reflecting balanced market conditions. The area maintains strong occupancy stability at 96%, ranking 17th among metro neighborhoods and placing in the 77th percentile nationally. Median contract rents of $1,277 have grown 28.4% over five years, outpacing many comparable markets.
Demographics within a 3-mile radius show a stable renter base, with 55.6% of housing units occupied by renters. The population of 85,299 has grown 7.3% over five years, with household formation supporting rental demand. Projected growth through 2028 indicates continued expansion in both population and households, with the renter-occupied unit count expected to increase significantly.
Built in 1986, this property aligns with the neighborhood's average construction year of 1977, suggesting consistent building stock without immediate capital expenditure pressures. The area offers solid educational infrastructure with schools averaging 3.5 out of 5 stars, ranking 5th among metro neighborhoods. Median household income of $77,861 supports rent-to-income ratios at manageable levels, though investors should monitor affordability dynamics as rents continue rising.
Home values averaging $434,782 represent significant elevation above rental costs, with ownership requiring substantial down payments that help sustain rental demand. The area provides adequate childcare density ranking 8th metro-wide, though dining and retail amenities are more limited with lower grocery and pharmacy accessibility requiring tenant reliance on nearby commercial corridors.
Crime metrics show moderate performance relative to the broader metro area. Property offense rates of 281 per 100,000 residents rank 43rd among 74 metro neighborhoods, placing near the median locally and in the 49th percentile nationally. More encouraging for investors, property crime has declined 35% year-over-year, ranking 13th for improvement trends and reaching the 78th percentile nationally for crime reduction.
Violent crime rates remain below many urban markets at 89 incidents per 100,000 residents, though this ranks 54th among metro neighborhoods and in the 33rd percentile nationally. However, violent crime has also decreased 31.4% over the past year, showing positive momentum that ranks 13th for improvement and 76th percentile nationally. These declining crime trends support tenant retention and leasing stability.
Employment data for major anchor employers within commuting distance is not available in the current dataset. Investors should conduct independent research on local employment centers and major employers in the Chico metropolitan area to assess tenant demand drivers and workforce stability.
This 26-unit property offers compelling fundamentals anchored by strong neighborhood-level occupancy at 96% and positive rent growth momentum. The 1986 construction year aligns with area norms while avoiding immediate capital expenditure concerns common in older vintage properties. Demographic projections within a 3-mile radius indicate continued population and household growth through 2028, expanding the potential tenant base and supporting occupancy stability.
The property benefits from a favorable rental market dynamic where elevated home values maintain rental demand, as ownership requires substantial capital that keeps households in the rental market longer. Declining crime trends and solid school ratings enhance tenant appeal, while the inner suburb location provides stability without urban density challenges. However, investors should monitor rent-to-income ratios and consider limited local amenity density when planning tenant retention strategies.
- Strong neighborhood occupancy at 96% ranks in top quartile nationally
- Rent growth of 28.4% over five years outpaces many comparable markets
- Growing population and household formation support expanding tenant base
- Elevated home values sustain rental demand by limiting ownership accessibility
- Risk: Limited local amenities may impact tenant retention and require competitive lease terms