| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 19th | Poor |
| Amenities | 92nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2719 Mitchell Ave, Oroville, CA, 95966, US |
| Region / Metro | Oroville |
| Year of Construction | 1974 |
| Units | 88 |
| Transaction Date | 2016-12-13 |
| Transaction Price | $3,575,000 |
| Buyer | COOL TIME LLC |
| Seller | SAC METRO APARTMENTS LLC |
2719 Mitchell Ave, Oroville CA Multifamily Investment
Neighborhood occupancy is high with a sizable renter-occupied base, supporting stable leasing dynamics, according to WDSuite’s CRE market data. Positioned for steady demand in an inner-suburb location with everyday amenities that help retention.
The property sits in an Inner Suburb neighborhood that ranks 11 out of 74 in the Chico metro, placing it in the top quartile locally. Everyday convenience is a strength: grocery, pharmacy, parks, and food-and-beverage density score in the upper national percentiles, signaling walkable access to essentials that can aid leasing and renewal performance.
Renter concentration is elevated at the neighborhood level (65.8% of housing units are renter-occupied), indicating a deep tenant base and consistent multifamily demand. Median neighborhood occupancy is strong and compares favorably with metro and national trends, supporting expectations for stable collections and limited downtime between turns.
Within a 3-mile radius, population and household counts have expanded in recent years and are projected to keep growing, pointing to a larger tenant pool over time. This household growth, coupled with everyday amenities, reinforces the case for sustained renter demand rather than near-term lease-up risk.
Homeownership costs in this neighborhood are relatively high versus local incomes (as reflected in national percentile comparisons), which tends to reinforce reliance on rental options and can support pricing power. At the same time, rent-to-income metrics suggest careful lease management to balance occupancy stability with rent growth. Based on CRE market data from WDSuite, the area’s amenity access and high renter share are key demand drivers, while income levels in the broader area trail national norms—an important consideration for unit mix and renewal strategies.
Vintage and asset positioning: Built in 1974, the 88-unit asset is older than newer-vintage product, suggesting practical value-add potential through unit and systems modernization. Given the neighborhood’s strong renter base and amenity strength, targeted renovations can improve competitive positioning while investors plan for ongoing capital needs typical of this era.
Safety performance is mixed and should be evaluated in context. The neighborhood’s overall crime profile is roughly around the national middle, and it is competitive among Chico neighborhoods (crime rank 28 out of 74). Property-related incidents have been higher than national norms but have improved meaningfully in the most recent year, while violent-offense indicators show notable year-over-year declines. These trends point to improving conditions, though investors should continue to underwrite prudent security measures and operational controls.
This 88-unit, 1974-vintage property offers a value-add angle in a neighborhood with strong renter concentration and high occupancy. Everyday amenities score well at the national level, supporting retention, and ownership costs relative to incomes reinforce reliance on multifamily housing. According to commercial real estate analysis from WDSuite, the neighborhood ranks in the top quartile locally and shows sustained renter demand, positioning renovated units to compete effectively versus older stock.
Demand fundamentals are supported by 3-mile population and household growth, with further expansion projected, pointing to a larger tenant base over time. While income levels in the broader area lag national benchmarks and property crime indicators have been elevated historically, recent year-over-year improvements and the submarket’s occupancy strength underpin a cautious but constructive long-term thesis.
- High neighborhood occupancy and elevated renter share support stable demand
- 1974 vintage enables practical value-add through unit and systems modernization
- Strong amenity access aids retention and competitive positioning
- 3-mile growth trends expand the tenant base over the hold period
- Risks: income levels below national norms and historically elevated property crime, warranting prudent underwriting and operations