| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Fair |
| Demographics | 50th | Fair |
| Amenities | 36th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1500 State Highway 99, Gridley, CA, 95948, US |
| Region / Metro | Gridley |
| Year of Construction | 1980 |
| Units | 56 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1500 State Hwy 99, Gridley CA Multifamily Investment
Renter demand is supported by a rising renter-occupied share within 3 miles and household growth despite smaller household sizes, according to WDSuite’s CRE market data. The location along the Hwy 99 corridor offers practical access for the local workforce and supports stable leasing when managed to neighborhood fundamentals.
Gridley’s neighborhood context is suburban with a B rating among 74 Chico metro neighborhoods, placing it above the metro median. Within a 3-mile radius, the renter pool is sizable today and projected to expand as the share of renter-occupied units increases, while households rise and household size trends lower—conditions that typically support demand for smaller floorplans like the property’s average 672 sq. ft. units.
Schools score well for the area, ranked 1 out of 74 metro neighborhoods and in the top quartile nationally, which can aid retention for family renters. Everyday amenities are modest—grocery and pharmacy access is present, while parks and cafes are limited—so leasing strategies should emphasize value and convenience rather than lifestyle clustering.
Ownership costs in the surrounding area are elevated relative to incomes (high national percentile for value-to-income and home values), reinforcing reliance on multifamily rentals and supporting pricing power when units are well-maintained. Neighborhood asking rents benchmark below national medians, which can enhance affordability positioning for workforce households and help sustain occupancy.
The asset’s 1980 construction is newer than the neighborhood’s average vintage, suggesting relative competitiveness versus older stock. Investors should still plan for systems modernization and selective renovations to meet current renter expectations and to strengthen leasing performance against older comparables.
Occupancy at the neighborhood level trends below the metro median, indicating the importance of disciplined leasing, turn efficiency, and targeted upgrades to capture demand from an expanding renter base. Proximity to State Highway 99 provides practical regional connectivity for commuting and services.
Safety indicators are mixed. Within the Chico metro, the neighborhood’s crime rank is 63 out of 74, placing it above the metro average. Nationally, overall safety sits below the midpoint (lower national percentile), though property and violent offense indicators register around or slightly above national mid-percentiles.
Recent year-over-year changes show volatility in reported offenses, so investors should underwrite with conservative assumptions and emphasize on-site management practices that support resident comfort and asset care. Compare trends to submarket and citywide patterns when evaluating long-term risk.
This 56-unit, 1980-vintage community in Gridley offers exposure to a suburban neighborhood where renter reliance is set to increase within a 3-mile radius, even as household sizes trend smaller. The property’s compact average unit size (672 sq. ft.) aligns with that demand profile, and elevated ownership costs in the area support a durable tenant base for well-managed workforce housing, based on commercial real estate analysis from WDSuite.
While neighborhood occupancy runs below the metro median and safety trends show variability, strong local school ratings, Hwy 99 connectivity, and competitive positioning versus older housing stock create a straightforward value path: targeted interior and systems updates, disciplined leasing, and expense control to stabilize occupancy and rents relative to local benchmarks.
- Expanding renter pool within 3 miles and smaller household sizes support steady demand for smaller units.
- 1980 vintage offers competitive positioning versus older neighborhood stock with modernization upside.
- Elevated ownership costs in the area underpin renter reliance and pricing power for well-maintained units.
- Strong local school rankings aid family renter retention and leasing stability.
- Risks: below-metro neighborhood occupancy and variable safety trends warrant conservative underwriting and active management.