| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Best |
| Demographics | 48th | Fair |
| Amenities | 45th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 808 W 2nd Ave, Chico, CA, 95926, US |
| Region / Metro | Chico |
| Year of Construction | 1980 |
| Units | 36 |
| Transaction Date | 2007-12-20 |
| Transaction Price | $3,825,000 |
| Buyer | HARRISON WEI JEN |
| Seller | SLACO LLC |
808 W 2nd Ave, Chico CA Multifamily Investment
Neighborhood-level occupancy has improved in recent years and renter concentration is high, supporting demand stability according to WDSuite’s CRE market data.
Positioned in Chico’s Urban Core, the property benefits from a deep renter pool. The neighborhood’s renter-occupied share ranks 3rd out of 74 Chico neighborhoods, indicating strong multifamily demand depth that can support leasing velocity and renewals.
Day-to-day convenience is a relative strength: grocery access ranks 5th of 74 and pharmacies 8th of 74, which is competitive among Chico neighborhoods and in the top quartile nationally. Restaurant density is also a local advantage (8th of 74). By contrast, park and cafe counts rank at the bottom of the metro, so on-site amenities may help differentiate the asset.
Neighborhood occupancy is 88.0% (among 74 metro neighborhoods, rank 46), below the metro median but trending upward over the last five years—an encouraging directional signal for revenue stability. Typical contract rents in the neighborhood sit above national norms, while the metro’s high value-to-income backdrop reinforces reliance on rentals, which can support tenant retention for well-managed properties.
Within a 3-mile radius, population and households have expanded over the past five years, with additional growth forecast through 2028. This points to a larger tenant base and sustained renter pool expansion, supporting occupancy and absorption for professionally operated assets.
Safety trends are mixed when viewed against metro and national benchmarks. The neighborhood’s overall crime profile sits below the national safety average (national percentile in the 30s), and violent and property offense measures track in lower national percentiles. However, recent data show a year-over-year decline in violent offense rates, indicating some improvement in trend momentum based on WDSuite’s datasets.
Investors typically contextualize safety at the neighborhood—not block—level. Compared with the 74 neighborhoods across the Chico metro, this area’s rank indicates it is not among the metro’s safer cohorts, yet the improving trajectory can mitigate risk where operational controls and tenant screening are strong. As always, underwriting should consider property-level security, lighting, and management practices.
The asset is positioned in a renter-heavy Urban Core location where neighborhood-level occupancy has been rising and grocery/pharmacy/restaurant access is competitive within the metro. Elevated ownership costs in the region reinforce sustained demand for rentals, which can translate into steadier renewals and pricing power when supported by effective operations. According to CRE market data from WDSuite, neighborhood NOI per-unit comps rank among the stronger cohorts locally, underscoring the area’s income potential relative to other Chico neighborhoods.
Demographic trends within a 3-mile radius point to ongoing population and household growth, implying a larger tenant base over time. While neighborhood affordability pressure suggests careful lease management, the combination of demand depth, amenity access, and improving safety momentum supports a durable long-term hold or operational value creation strategy.
- Renter-heavy neighborhood supports demand depth and leasing stability
- Competitive access to groceries, pharmacies, and restaurants aids retention
- Neighborhood NOI per-unit comps rank among stronger local cohorts
- 3-mile population and household growth expands the tenant base
- Risks: below-metro occupancy rank, affordability pressure, and the need for active safety and lease management