| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Best |
| Demographics | 16th | Poor |
| Amenities | 24th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 76 Rancho Vista Dr, Oroville, CA, 95965, US |
| Region / Metro | Oroville |
| Year of Construction | 1987 |
| Units | 60 |
| Transaction Date | 2015-08-28 |
| Transaction Price | $4,100,000 |
| Buyer | TUSCAN VILLA APARTMENTS PARTNERSHIP LP |
| Seller | WARREN MICHAEL J |
76 Rancho Vista Dr Oroville Multifamily Investment
This 60-unit property built in 1987 sits in a neighborhood with strong occupancy fundamentals at 96.8% and high rental density at 71.2% of housing units, according to CRE market data from WDSuite.
Located in Oroville's inner suburban landscape, this neighborhood demonstrates solid rental fundamentals with 71.2% of housing units occupied by renters, ranking in the top quartile nationally among rental-dense markets. The neighborhood maintains a 96.8% occupancy rate, substantially above typical metro performance and ranking in the 82nd percentile nationally for occupancy stability.
The property's 1987 construction year positions it slightly newer than the neighborhood average of 1965, potentially reducing near-term capital expenditure needs while maintaining competitive positioning within the local rental stock. Demographic data aggregated within a 3-mile radius shows a stable renter base with 48% of households occupying rental units and median household income of $48,443.
Rental affordability appears manageable with median contract rents at $876 and a rent-to-income ratio that supports tenant retention considerations. The neighborhood benefits from accessible grocery options with 1.53 stores per square mile, ranking in the 78th percentile nationally, while cafe density at 0.76 per square mile ranks in the 83rd percentile for dining convenience.
Forward-looking demographics indicate household growth potential, with projections showing a 43% increase in total households by 2028 and median household income rising to $86,067, supporting longer-term rental demand fundamentals within the submarket.
The neighborhood's safety profile shows mixed indicators when compared to the broader Chico metro area. Property crime rates of 926 incidents per 100,000 residents rank in the 24th percentile nationally, while recent trends show a 26% year-over-year decline in property offenses, ranking in the 70th percentile for improvement among metro neighborhoods.
Violent crime rates remain relatively contained at 125 incidents per 100,000 residents, though recent data shows an uptick. Investors should consider these safety metrics alongside neighborhood occupancy stability and tenant retention patterns when evaluating long-term performance potential.
The local employment base primarily serves the broader Butte County economy, though specific major employer proximity data is limited for detailed workforce analysis.
- Employment opportunities concentrated in regional healthcare, government services, and agricultural sectors support local rental demand patterns
This 60-unit property offers exposure to a rental-dense market with strong occupancy fundamentals and demographic tailwinds. The neighborhood's 96.8% occupancy rate and 71.2% rental share create a stable tenant base, while projected household growth of 43% through 2028 supports longer-term demand. Built in 1987, the property is newer than the neighborhood average, potentially reducing immediate capital requirements while maintaining competitive positioning.
Multifamily property research indicates that rental affordability remains manageable with current rent-to-income ratios, though investors should monitor income growth trajectories against rental escalation potential. The inner suburban location provides access to essential services while benefiting from lower land costs than urban core alternatives.
- High occupancy environment with 96.8% neighborhood rate ranking in 82nd percentile nationally
- Strong rental density at 71.2% of housing units supports consistent tenant demand
- Projected 43% household growth through 2028 expands potential renter pool
- 1987 construction vintage newer than neighborhood average reduces near-term capex needs
- Risk considerations include limited major employer proximity and mixed safety indicators requiring ongoing monitoring