| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Best |
| Demographics | 61st | Good |
| Amenities | 24th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 931 East Ave, Chico, CA, 95926, US |
| Region / Metro | Chico |
| Year of Construction | 1980 |
| Units | 20 |
| Transaction Date | 2024-12-19 |
| Transaction Price | $2,575,000 |
| Buyer | GIANGRANDE LIVING TRUST |
| Seller | COMPASS POINT CHICO LLC |
931 East Ave Chico Multifamily Investment
This 20-unit property sits in a neighborhood with above-average occupancy stability and strong renter demographics, positioning it within Chico's competitive rental market according to WDSuite's CRE market data.
This inner suburb neighborhood demonstrates solid fundamentals for multifamily investors, ranking 24th among 74 Chico metro neighborhoods with a B+ rating. The area maintains neighborhood-level occupancy of 93.6%, performing above metro median levels, while the substantial renter share of 43.6% ranks in the top quartile nationally, indicating strong rental market demand.
Built in 1980, this property aligns with the neighborhood's average construction year of 1979, positioning it within established building stock that may present targeted value-add opportunities through strategic renovations. Median neighborhood rents of $1,173 have grown nearly 30% over five years, reflecting steady rental appreciation in this market segment.
Demographics within a 3-mile radius show positive trends for multifamily demand, with household growth of 11.5% over five years expanding the renter pool. The area's median household income of $70,367 supports rental affordability, while projected population growth of 6.5% through 2028 suggests continued tenant demand. Home values averaging $415,956 with strong appreciation may keep potential buyers in the rental market longer, supporting occupancy stability.
Local amenities include solid grocery access with 1.02 stores per square mile, ranking in the top quartile nationally, and restaurant density of 3.05 per square mile, supporting tenant appeal. However, limited park and childcare amenities may impact family renter attraction, requiring consideration in tenant targeting strategies.
The neighborhood's crime profile shows mixed indicators that warrant monitoring. Property crime rates rank 54th among 74 metro neighborhoods with a 29th national percentile, indicating higher-than-average incidents compared to neighborhoods nationwide. However, recent trends show improvement, with property crime declining 5.8% year-over-year.
Violent crime presents a more encouraging picture, with rates decreasing significantly by 36% over the past year, ranking 9th among metro neighborhoods for improvement and reaching the 78th national percentile for positive change. While baseline violent crime rates remain elevated at the 29th national percentile, the substantial recent improvement suggests strengthening neighborhood conditions that may support tenant retention and property values.
Employment data for major employers near this property location is not currently available in the provided dataset.
This 20-unit Chico property offers multifamily investors access to a stable rental market with above-average occupancy and strong demographic fundamentals. The neighborhood's 93.6% occupancy rate outperforms metro medians, while the substantial 43.6% renter share ranks nationally in the top quartile, indicating deep rental demand. Household growth of 11.5% over five years within a 3-mile radius has expanded the tenant base, with projected population growth of 6.5% through 2028 supporting continued absorption.
Built in 1980, the property aligns with neighborhood construction norms while presenting potential value-add opportunities through strategic renovations. Median home values of $415,956 with strong appreciation may keep households in the rental market, supporting tenant retention. However, investors should monitor the mixed crime profile and limited family-oriented amenities when developing leasing strategies and considering capital improvements.
- Neighborhood occupancy of 93.6% exceeds metro averages, indicating rental market stability
- Top-quartile national ranking for renter share supports sustained multifamily demand
- Household growth of 11.5% over five years expands the potential tenant pool
- 1980 construction year aligns with neighborhood norms while offering value-add potential
- Risk consideration: Property crime rates rank below metro median, requiring security assessment