| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 19th | Poor |
| Amenities | 92nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 700 Mitchell Ave, Oroville, CA, 95965, US |
| Region / Metro | Oroville |
| Year of Construction | 1983 |
| Units | 62 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
700 Mitchell Ave, Oroville CA Multifamily Opportunity
Neighborhood occupancy is strong and renter demand is deep in this Inner Suburb of the Chico metro, according to WDSuite’s CRE market data, positioning this asset for steady leasing performance with prudent operations.
The property sits in an Inner Suburb neighborhood rated A and ranked 11 out of 74 in the Chico, CA metro. Amenity access is a notable strength: grocery, restaurant, and pharmacy density score in the top decile nationally, translating into everyday convenience that supports tenant retention and leasing velocity.
Neighborhood occupancy is in the top quartile among 74 metro neighborhoods, indicating tight availability and generally stable rent rolls. Median contract rents benchmark around the metro middle, which helps sustain absorption while allowing for disciplined rent management. The share of renter-occupied housing units is high (ranked 7 of 74), signaling a sizable tenant base and consistent multifamily demand.
Within a 3‑mile radius, demographics show recent population growth and a faster increase in households, implying smaller household sizes and an expanding renter pool. Projections point to additional gains in households over the next five years, which should support occupancy stability and future leasing.
For-sale housing trends underscore a high-cost ownership market relative to local incomes (value-to-income metrics are elevated versus national norms). This typically reinforces reliance on rental housing and can support pricing power, while the neighborhood’s rent-to-income levels suggest manageable affordability pressure that still warrants attentive lease management.
Vintage positioning: The property was built in 1983, newer than much of the surrounding housing stock, which skews older. This relative vintage can be a competitive advantage versus prewar product, though modernizations or selective system updates may unlock further value and support rent premiums.
Safety signals are mixed and should be underwritten carefully. Neighborhood crime sits around the metro middle by national comparison, but property crime levels track below national safety percentiles. Importantly, both violent and property offense rates have improved meaningfully over the past year, with declines that are competitive among Chico neighborhoods (ranked relative to 74) and stronger than many areas nationwide. Investors should verify block-level patterns and incorporate security measures and lighting upgrades in capital plans as needed.
700 Mitchell Ave offers exposure to a renter-heavy submarket with tight occupancy and everyday amenities that help sustain leasing. Based on CRE market data from WDSuite, the neighborhood ranks competitively within the metro on occupancy while maintaining mid-market rent levels—an attractive setup for steady cash flows with disciplined expense control. The ownership market’s higher value-to-income profile supports sustained rental reliance, and 3‑mile household growth trends point to a larger tenant base over time.
Constructed in 1983, the asset is comparatively newer than much of the area’s older housing stock, providing a positioning edge versus legacy buildings. Targeted renovations and systems upgrades can further improve competitiveness and support rent lifts, balanced against prudent underwriting for safety, income depth, and ongoing operating costs.
- Tight neighborhood occupancy and high renter-occupied share support stable demand
- Amenity-rich location (groceries, restaurants, pharmacies) aids retention and leasing
- 1983 vintage offers value-add potential versus older local stock
- Household growth within 3 miles expands the tenant base and supports occupancy
- Risks: below-average national safety percentiles for property crime; manage with security and conservative underwriting