| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Fair |
| Demographics | 39th | Poor |
| Amenities | 38th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2744 Akard Ave, Redding, CA, 96001, US |
| Region / Metro | Redding |
| Year of Construction | 1996 |
| Units | 90 |
| Transaction Date | 2006-03-29 |
| Transaction Price | $1,725,000 |
| Buyer | SEKHON PROPERTIES LLC |
| Seller | 5716 42ND STREET LLC |
2744 Akard Ave Redding Multifamily Investment
This 90-unit property built in 1996 operates in a neighborhood with 92.4% occupancy and strong rental demand. According to CRE market data from WDSuite, the area ranks in the top quartile for rental housing concentration among 71 metro neighborhoods.
Located in Redding's inner suburban landscape, this neighborhood demonstrates stable fundamentals for multifamily property research with occupancy rates of 92.4%, above the metro median among 71 neighborhoods. The area maintains 43.8% rental housing tenure, ranking 11th metro-wide and placing in the 83rd percentile nationally for renter concentration.
Built in 1996, the subject property aligns with the neighborhood's average construction year of 1964, positioning it as newer inventory that may require less immediate capital expenditure compared to older stock. Median contract rents of $874 provide affordability relative to the $76,131 median household income, supporting tenant retention in a market where elevated home values at $330,980 reinforce rental demand.
Demographic data within a 3-mile radius shows a population of 44,511 with 56.8% renter-occupied units. Projected household growth of 23.8% through 2028 and median income increases to $91,107 suggest an expanding renter pool that could support occupancy stability and gradual rent progression.
The neighborhood offers solid amenity access with 1.29 grocery stores per square mile (75th percentile nationally) and 3.02 restaurants per square mile (73rd percentile nationally), supporting tenant appeal. Park density ranks 3rd metro-wide, though limited childcare and pharmacy options may affect certain tenant segments.
Crime metrics indicate above-average safety performance for the neighborhood. Property offense rates rank 13th among 71 metro neighborhoods, placing in the 73rd percentile nationally. Notably, property crime has declined 44.3% year-over-year, ranking 14th metro-wide and 85th percentile nationally for improvement trends.
Violent crime rates show moderate performance at 16.3 incidents per 100,000 residents, ranking 44th metro-wide (62nd percentile nationally). The area has experienced a 23.5% decrease in violent offenses over the past year, indicating improving conditions that may support tenant retention and property values.
Employment data for specific nearby anchor employers is not available in the current dataset. The broader Redding metro area supports diverse employment sectors including healthcare, government services, and retail trade that provide workforce housing demand for multifamily properties.
The 2744 Akard Ave property presents stable fundamentals in a neighborhood with demonstrated rental demand. Built in 1996, the asset offers newer construction relative to the area's 1964 average, potentially reducing near-term capital expenditure needs while maintaining competitive positioning. Commercial real estate analysis shows occupancy at 92.4% exceeds metro medians, supported by 43.8% rental tenure that ranks in the top quartile nationally.
Demographic projections within the 3-mile radius indicate household growth of 23.8% through 2028, with median incomes rising to $91,107. This expanding renter pool, combined with home values at $330,980 that reinforce rental housing demand, supports long-term occupancy stability and measured rent growth potential.
- Neighborhood occupancy of 92.4% above metro median indicates stable rental demand
- 1996 construction year provides newer inventory with reduced capital expenditure risk
- Projected 23.8% household growth through 2028 supports tenant base expansion
- Home values at $330,980 reinforce rental housing demand over ownership competition
- Limited childcare and pharmacy amenities may constrain appeal to certain tenant segments