| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 76th | Best |
| Amenities | 25th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 740 W 12th Ave, Chico, CA, 95926, US |
| Region / Metro | Chico |
| Year of Construction | 1986 |
| Units | 116 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
740 W 12th Ave, Chico Multifamily Opportunity
Neighborhood occupancy is strong and comparatively stable, according to WDSuite’s CRE market data, positioning this 116-unit 1986 asset to capture steady renter demand in an inner-suburban Chico location.
Situated in Chico’s inner suburbs, the property benefits from a neighborhood rated A- with a rank of 19 among 74 metro neighborhoods, indicating performance above the metro median. Grocery access ranks 14 of 74 (top quartile locally) and restaurants density ranks 18 of 74, suggesting day-to-day convenience even as specialty amenities are thinner nearby.
Neighborhood occupancy is 97.3% (top quartile locally by rank 13 of 74), which points to stable leasing conditions at the neighborhood level rather than at the property. Within a 3-mile radius, 58.7% of housing units are renter-occupied, creating a broad tenant base that typically supports steady absorption and renewal performance for multifamily assets.
Demographic trends within a 3-mile radius show population growth over the last five years (+8.3%) and households expanding at an even faster pace (+11.3%), indicating a larger renter pool and potential support for occupancy stability. Looking ahead to 2028, forecasts call for additional population and households growth, which generally supports demand for rental units; household sizes are projected to edge lower, which can reinforce demand for smaller formats.
The submarket skews toward higher incomes locally (household income rank 14 of 74; high national percentile) and elevated ownership costs (home values in a high national percentile), factors that typically reinforce reliance on rental housing and can bolster pricing power, subject to lease management and affordability considerations. Built in 1986, the asset is newer than the neighborhood’s average vintage (1969), offering competitiveness versus older stock, while still presenting potential modernization and system upgrades that can drive value-add returns.
Safety indicators are mixed and should be evaluated in context. The neighborhood’s crime rank is 40 of 74—around the metro midpoint—and national percentiles for both property and violent offenses land near the national middle as well. Year-over-year signals show a modest uptick in violent offense rates and a relatively flat trend in property offenses, according to WDSuite’s CRE market data.
For investors, this translates to a setting that is competitive among Chico neighborhoods but not top-tier nationally on safety. Active property management, lighting, and access controls can help support retention and leasing performance relative to nearby alternatives.
This 116-unit community, built in 1986 with average unit sizes near 870 square feet, aligns with inner-suburban renter demand in Chico. Neighborhood occupancy ranks in the top quartile locally, and within a 3-mile radius the renter pool is substantial and growing alongside increases in both population and households—favorable for absorption and renewal prospects. Elevated ownership costs relative to incomes support sustained multifamily reliance, while the asset’s vintage offers room for targeted upgrades to enhance competitive positioning versus older stock.
According to CRE market data from WDSuite, the immediate neighborhood performs above the metro median overall, with grocery and restaurant access supporting daily convenience. The thesis centers on stable demand fundamentals with value-add upside, balanced by prudent attention to mid-pack safety metrics and selective amenity gaps in the immediate area.
- Neighborhood occupancy ranks top quartile locally, supporting leasing stability
- 3-mile radius shows growth in population and households, expanding the renter base
- Elevated ownership costs reinforce reliance on rentals and potential pricing power
- 1986 vintage offers modernization and value-add potential versus older neighborhood stock
- Risks: mid-pack safety metrics and thinner specialty amenities may require enhanced management and targeted improvements