| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Best |
| Demographics | 48th | Fair |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1701 Dana Dr, Redding, CA, 96003, US |
| Region / Metro | Redding |
| Year of Construction | 1990 |
| Units | 85 |
| Transaction Date | 2015-03-19 |
| Transaction Price | $17,000,000 |
| Buyer | FAZIO MOUNTAIN LLC |
| Seller | PARKWEST LP |
1701 Dana Dr, Redding CA Multifamily Investment
Neighborhood renter concentration and amenity density point to a durable tenant base, with occupancy patterns near the metro midpoint according to CRE market data from WDSuite. Positioning focuses on steady demand rather than lease-up risk in an inner-suburban location.
The property sits in an Inner Suburb pocket of Redding that is competitive among Redding neighborhoods, with the area ranked 3 out of 71 (A+ neighborhood rating). Amenity access is a clear strength: restaurants (ranked 2 of 71), groceries (3 of 71), pharmacies (3 of 71), and cafés (4 of 71) are all close by, supporting daily convenience and renter appeal.
Neighborhood occupancy trends are around the metro midpoint, while the share of housing units that are renter-occupied is above the metro median (ranked 8 of 71). For investors, this indicates depth in the local tenant pool and stable leasing demand, with pricing set by everyday convenience rather than destination retail.
Within a 3-mile radius, recent years show modest population growth alongside a faster uptick in households, expanding the local renter pool and supporting occupancy stability. Forward-looking data points to softer population trends but continued household gains and smaller average household sizes, which generally sustain demand for rental units and reinforce the need for well-managed unit mixes.
Ownership costs are elevated relative to local incomes (high national percentile for value-to-income), which typically sustains reliance on multifamily rentals and can support lease retention. Neighborhood schools average about mid-pack nationally, and park access is limited locally, so on-site amenities and programming can play an outsized role in retention.
Safety signals are mixed at the neighborhood level. Overall crime ranks below the metro average (ranked 50 out of 71), violent offense benchmarks compare favorably versus neighborhoods nationwide (above the national median), while property-related incidents benchmark below the national median. Year-over-year, violent offenses have improved into a stronger national improvement tier.
For investors, the takeaway is to underwrite standard security measures and monitor submarket trends. Improvement in violent offense rates is constructive, while property offense benchmarks suggest prudent loss-prevention and lighting/camera plans remain appropriate for asset operations.
This 85-unit asset, built in 1990, is newer than the neighborhood’s average vintage and should compete well against older stock, while still warranting targeted system updates or common-area refreshes as part of a value-add plan. Renter concentration in the surrounding neighborhood is above the metro median, and amenity density is strong, reinforcing everyday convenience and supporting retention. Elevated ownership costs relative to income levels further support sustained multifamily demand, according to CRE market data from WDSuite.
Demand indicators lean steady rather than speculative: neighborhood occupancy is near the metro midpoint, 3-mile demographics point to a larger household base over time even as population growth moderates, and rents track at levels that help manage affordability pressure and support lease stability. The main underwriting considerations are routine capital planning for a 1990s asset, park-deficient surroundings that elevate the role of on-site amenities, and a mixed safety profile that rewards basic security investments.
- Newer 1990 vintage versus local average, with clear value-add and modernization pathways
- Above-median renter-occupied housing share supports a deep tenant base and leasing resilience
- Strong daily amenities (food, grocery, pharmacy, cafés) bolster retention and rentability
- Risks: property offense benchmarks below national median, limited park access, and occupancy near metro midpoint