| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Best |
| Demographics | 48th | Fair |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1721 Azoulay Ct, Redding, CA, 96003, US |
| Region / Metro | Redding |
| Year of Construction | 1985 |
| Units | 37 |
| Transaction Date | 2005-02-23 |
| Transaction Price | $2,600,000 |
| Buyer | SD2 HOLDINGS LLC |
| Seller | MAR GIN F |
1721 Azoulay Ct Redding Multifamily Investment
Positioned in an Inner Suburb pocket with steady renter demand and neighborhood occupancy near the metro median, this 37-unit asset offers scale with value-add potential, according to WDSuite’s CRE market data.
The immediate neighborhood rates A+ among 71 Redding neighborhoods and functions as an Inner Suburb with everyday conveniences close by. Restaurant density ranks 2 of 71 and grocery and pharmacy access both rank 3 of 71, making the area competitive among Redding neighborhoods and top quartile nationally for daily amenities. This supports resident retention and reduces friction for leasing.
Neighborhood occupancy sits around the metro median, suggesting stable but competitive leasing conditions for professionally managed multifamily. Median contract rents trend mid-market and have risen over the past five years, while the rent-to-income profile indicates manageable affordability pressure that can aid retention and limit turnover risk.
The housing stock skews slightly newer than the metro average, and this property’s 1985 vintage is positioned to compete well against older inventory while leaving room for targeted renovations (exteriors, interiors, and systems) to capture value-add upside and modern renter preferences.
Within a 3-mile radius, demographics show modest population growth in the prior five years alongside an increase in households and a slight decline in average household size. Looking ahead, projections show households continuing to increase even as population trends soften, implying smaller household sizes and a broader tenant base entering the market — dynamics that can support occupancy stability for well-managed, mid-size properties.
Home values are in the upper tier versus national peers (national percentile high-60s to high-70s), which tends to sustain renter reliance on multifamily housing. Average school ratings are competitive in the metro (ranked 5 of 71) and above the national median, a positive for family renters seeking stability.
Safety indicators are mixed. Relative to neighborhoods nationwide, overall conditions sit modestly above the national median; however, within the Redding metro the neighborhood’s crime rank (50 out of 71) indicates higher incident rates than many local peers. Investors should underwrite with prudent security planning and property-level controls.
Recent trends diverge: violent offense estimates improved year over year (strong improvement relative to national peers), while property offense estimates increased over the same period. This split suggests that diligence on physical security, lighting, access control, and resident engagement remains important to support leasing stability.
This 37-unit, 1985-vintage asset offers a balanced play in an amenity-rich Inner Suburb where neighborhood occupancy is around the metro median and renter-occupied housing represents a majority of units. The vintage is slightly newer than the area’s average, creating competitive positioning versus older stock while leaving room for selective renovations. Daily convenience ranks among the best in the metro (restaurants, groceries, pharmacies), which can bolster retention. Based on CRE market data from WDSuite, ownership costs sit in an upper national tier, reinforcing sustained renter demand for multifamily.
Forward-looking demographics within a 3-mile radius point to continued household growth and smaller household sizes, which expands the tenant base even as population growth moderates. Underwriting should consider mixed safety signals and typical capex for 1980s construction, but the combination of amenity access, renter concentration, and value-add levers supports a durable long-term thesis.
- 1985 vintage: competitive versus older stock with clear value-add and systems modernization potential
- Amenity-rich location: top-tier restaurant, grocery, and pharmacy access supports retention and leasing
- Majority renter-occupied neighborhood and mid-market rents underpin depth of tenant demand
- 3-mile household growth with smaller household sizes expands the renter pool and supports occupancy
- Risks: property crime trends within the metro and typical 1980s capex; plan for security and targeted renovations