| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Best |
| Demographics | 59th | Good |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 821 W East Ave, Chico, CA, 95926, US |
| Region / Metro | Chico |
| Year of Construction | 1977 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
821 W East Ave, Chico Multifamily Opportunity
Neighborhood occupancy remains strong and renter demand is supported by a high-cost ownership market, according to WDSuite’s CRE market data. This positions the asset for stable leasing while leaving room for value-add plays given its 1977 vintage.
Located in an Inner Suburb pocket of Chico, the immediate neighborhood scores A+ overall and ranks 3rd out of 74 metro neighborhoods, placing it in the top quartile locally. Investors benefit from strong daily-needs access: grocery availability ranks 3rd of 74 (top quartile), restaurants rank 3rd (top quartile), pharmacies rank 2nd (top quartile), and cafes rank 7th (competitive among Chico neighborhoods). Limited park access is a relative gap, with parks ranking near the bottom of the metro.
Multifamily fundamentals are favorable at the neighborhood level, with occupancy around 96.5% (top quintile nationally), supporting lease stability and reducing downtime risk. The property s 1977 construction is older than the neighborhood s average 1983 vintage, which implies near- to medium-term capital planning needs but also creates value-add potential through targeted renovations and systems upgrades that can improve competitive positioning.
Tenure dynamics indicate depth for rentals: approximately 44.5% of housing units in the neighborhood are renter-occupied, suggesting a sizable tenant base and durable demand for multifamily product. Within a 3-mile radius, demographics show population growth alongside a larger household base and modestly smaller average household size, pointing to a gradually expanding renter pool and support for occupancy stability. Over the past five years, households increased about 10.6%, and forecasts indicate further gains by 2028, which can underpin leasing and renewal performance.
From a pricing and affordability standpoint, neighborhood median contract rents sit near the national upper-middle range while the rent-to-income ratio of roughly 0.25 indicates manageable affordability pressure by investor standards. At the same time, elevated home values relative to incomes (upper national percentiles) characterize a high-cost ownership market that tends to sustain renter reliance on multifamily housing a dynamic that can aid retention and measured pricing power. These conditions align with broader commercial real estate analysis signals for stable occupancy in supply-constrained, amenity-rich suburban nodes.
Safety metrics are mixed and should be assessed comparatively. The neighborhood s crime profile sits below the national median (around the 39th national percentile) and is weaker than many parts of the Chico metro, ranking 51st out of 74 neighborhoods. For investors, this typically translates to more emphasis on onsite security measures and resident experience programming to support leasing and renewals.
Recent trends are nuanced: estimated property offenses improved year over year (declining by approximately 5.7%), while estimated violent offenses ticked up (about 6.6%). These directional shifts warrant routine monitoring and prudent operating practices, but the broader context is that safety performance varies within the metro and should be considered alongside the submarket s amenity strength and rental fundamentals.
This 32-unit, 1977-vintage property in an A+-rated Inner Suburb benefits from strong neighborhood occupancy (around 96.5%) and a renter base supported by high home values relative to incomes. Based on CRE market data from WDSuite, amenity access ranks in the metro s top quartile for daily needs, reinforcing location fundamentals that can sustain leasing momentum while targeted renovations capture operational upside.
Within a 3-mile radius, population and households have grown, and forecasts point to further household gains through 2028, implying renter pool expansion and support for occupancy stability. The neighborhood s renter-occupied share (about 44.5%) and a rent-to-income profile near 0.25 suggest manageable affordability pressure that can aid retention, while the older vintage signals straightforward value-add potential through interior and building system updates.
- Strong neighborhood occupancy supports stable leasing and reduced downtime risk.
- High-cost ownership market sustains renter reliance on multifamily housing and renewal potential.
- 1977 vintage offers value-add upside via targeted renovations and system upgrades.
- Amenity-rich location (top-quartile grocery, restaurants, pharmacies) supports demand and leasing velocity.
- Risks: below-metro safety ranking and limited park access call for proactive management and resident experience focus.