| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Fair |
| Demographics | 33rd | Poor |
| Amenities | 40th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 500 Hillview Ridge Ln, Oroville, CA, 95966, US |
| Region / Metro | Oroville |
| Year of Construction | 2012 |
| Units | 57 |
| Transaction Date | 2011-02-25 |
| Transaction Price | $600,000 |
| Buyer | PACIFIC WEST COMMUNITIES INC |
| Seller | OLIVER BRIGETTE M |
500 Hillview Ridge Ln Oroville Multifamily Investment
Neighborhood occupancy trends sit in the high-80s and renter demand is supported by steady household growth in the area, according to WDSuite’s CRE market data. All occupancy and demand signals referenced reflect the surrounding neighborhood, not this specific property.
The property’s Oroville location sits within the Chico, CA metro and reflects a suburban profile with a B- neighborhood rating (43 of 74 metro neighborhoods). Neighborhood occupancy is below the metro median, yet steady 3-mile household gains and a moderate renter-occupied share point to a stable tenant base over time. Demographic statistics are aggregated within a 3-mile radius.
Livability signals are mixed but serviceable for workforce housing. Amenity access ranks 18 out of 74 metro neighborhoods, placing the area in the top quartile locally, with pharmacies comparatively accessible (upper national percentiles) but limited cafes and parks nearby. Average school ratings track below many U.S. neighborhoods, which family renters may weigh when evaluating location; investors should plan leasing and retention strategies accordingly.
From a demand standpoint, the 3-mile area has experienced population growth alongside a notable increase in households, indicating a larger renter pool and supporting occupancy stability. Forward-looking projections through 2028 point to continued gains in households and incomes, which can underpin rent growth and reduce volatility in leasing cycles.
Asset quality is a relative strength: built in 2012, the property is materially newer than the neighborhood’s older housing stock (average vintage mid-20th century). Newer construction enhances competitive positioning versus nearby legacy assets, though standard mid-life system upgrades and targeted modernization may still be prudent over the hold to sustain performance.
Affordability dynamics are constructive for rental demand. Elevated home values relative to incomes in the neighborhood (higher national percentile for value-to-income) can sustain renter reliance on multifamily housing, while neighborhood rent-to-income sits at a level that supports lease retention and reduces move-out pressure. Together, these factors suggest durable demand even if macro conditions soften.
Safety indicators are mixed and should be contextualized. Within the Chico metro, the neighborhood’s crime rank sits on the higher-crime side (rank 23 out of 74), signaling above-metro-average incidence. Nationally, composite safety lands around mid-pack, with violent offense measures near national averages and property offenses comparatively higher.
Recent trend data is constructive: both violent and property offense estimates have declined year over year, with improvement pacing ahead of many U.S. neighborhoods. For investors, this trend moderation can support leasing stability and perception over time, but prudent risk management (lighting, access control, and coordination with local resources) remains advisable.
This 57-unit, 2012-vintage asset offers newer construction relative to an older housing stock locally, providing competitive positioning versus legacy properties. Neighborhood occupancy runs below the metro median, yet a growing 3-mile household base and moderate renter concentration support a stable tenant pipeline. Elevated ownership costs relative to incomes in the neighborhood reinforce reliance on rentals, while neighborhood rent-to-income levels point to manageable affordability—factors that can aid retention and limit pricing volatility.
According to commercial real estate analysis from WDSuite, amenity access is competitive within the metro though schools rate lower than many areas, and reported safety sits above metro averages despite recent improvement. The asset’s scale supports operating efficiency, and targeted mid-life upgrades can sustain its edge against older comparables while aligning capital plans with demand drivers.
- 2012 construction offers competitive positioning against older local stock, with room for targeted modernization
- Expanding 3-mile household counts support a larger tenant base and occupancy stability
- Elevated ownership costs sustain renter reliance; manageable rent-to-income aids retention
- Operational scale from 57 units can enhance efficiency versus smaller comps
- Risks: below-median neighborhood occupancy, lower-rated schools, and safety that, while improving, remains above metro averages