| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Good |
| Demographics | 25th | Poor |
| Amenities | 86th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1001 Washington St, Gridley, CA, 95948, US |
| Region / Metro | Gridley |
| Year of Construction | 2012 |
| Units | 57 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1001 Washington St, Gridley CA Multifamily Opportunity
Newer 2012 construction competes well against older neighborhood stock and supports steady leasing in a renter-heavy area, according to WDSuite’s CRE market data.
Situated in Gridley within the Chico, CA metro, the neighborhood carries an A- rating and ranks among the top quartile of the metro’s 74 neighborhoods. Daily-needs access is a strength, with grocery, pharmacy, parks, and cafés placing the area in high national percentiles, which tends to aid renter retention and reduce turnover friction for multifamily operators.
The property’s 2012 vintage is materially newer than the neighborhood’s older housing stock (average year 1940). For investors, that typically means a more competitive offering versus legacy assets and potential near-term capital planning advantages, while still leaving room for targeted upgrades over time to maintain positioning.
Neighborhood occupancy has been competitive among Chico neighborhoods and has trended higher in recent years, supporting income stability. The share of housing units that are renter-occupied is elevated locally, indicating depth in the tenant base and consistent multifamily demand. Median home values are higher relative to local incomes (above national norms for value-to-income), which reinforces reliance on rental housing and can support pricing power when managed thoughtfully.
Demographic statistics are aggregated within a 3-mile radius. Recent years show modest population growth and stable household counts, while projections indicate more households even as overall population edges lower, implying smaller household sizes and a potential increase in renter-occupied share by 2028. For owners, that combination points to a broader tenant pool and support for occupancy, with lease management focused on affordability to sustain retention.
Safety signals are mixed and should be monitored with current comps. Overall crime levels track close to national midpoints, while violent incidents are low relative to national peers (high national safety percentile), a constructive indicator for community stability and leasing. Property offenses have shown recent volatility on a year-over-year basis; investors should underwrite with updated local trend data and consider measures that reinforce on-site security and resident peace of mind.
Built in 2012, this 57-unit asset stands out versus the neighborhood’s older housing stock, positioning it competitively for leasing and potentially moderating near-term capex. Strong daily-needs access and a renter-leaning housing mix support demand, while neighborhood occupancy has been competitive among Chico submarkets. According to CRE market data from WDSuite, higher value-to-income dynamics in the area tend to sustain rental demand, suggesting scope for stable collections with disciplined lease management.
Within a 3-mile radius, recent growth trends and forecasts point to more households alongside smaller household sizes—an investor-relevant signal of a potentially wider tenant base even if population growth softens. Operators should balance this with active oversight of property crime trends and acknowledgment of below-median school ratings when assessing resident mix and marketing strategy.
- 2012 vintage competes well versus older neighborhood stock, with room for targeted upgrades
- Renter-occupied share is elevated locally, supporting depth of the tenant base and occupancy stability
- Strong daily-needs access (grocery, pharmacy, parks, cafés) aids retention and leasing
- Ownership costs relative to incomes reinforce demand for multifamily housing and pricing discipline
- Risks: recent property-crime volatility and below-median school ratings warrant conservative underwriting and on-site mitigation