| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 67th | Best |
| Amenities | 51st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2805 Pioneer Dr, Redding, CA, 96001, US |
| Region / Metro | Redding |
| Year of Construction | 1973 |
| Units | 40 |
| Transaction Date | 2014-12-22 |
| Transaction Price | $1,950,000 |
| Buyer | LEGERITY GROUP LLC |
| Seller | DEDICATED PROPERTIES LLC |
2805 Pioneer Dr, Redding CA Multifamily Investment
Stabilized suburban fundamentals and a high-cost ownership market point to durable renter demand, according to WDSuite’s CRE market data. Neighborhood occupancy sits in the low 90s while elevated home values support lease retention and pricing discipline.
This suburban pocket of Redding rates A+ and ranks 2 out of 71 metro neighborhoods, placing it well above the metro median on overall livability and investor fundamentals. Amenity access is competitive among Redding neighborhoods, with parks (rank 4 of 71) and cafes (rank 6 of 71) indicating convenient daily needs, while pharmacy access lags (rank 71 of 71). Average school ratings trend above the metro median (rank 4 of 71), an attribute that can aid longer-term tenant retention.
For multifamily demand, neighborhood occupancy is around the low-90% range, and roughly 30% of housing units are renter-occupied, signaling a steady but not saturated renter base. Elevated ownership costs relative to income (top-quartile nationally by value-to-income) tend to reinforce reliance on rentals, supporting occupancy stability and lease renewal prospects. Rents benchmark on the higher side locally, but a relatively modest rent-to-income burden suggests room for disciplined rent management without outsized retention risk.
Within a 3-mile radius, recent data show a stable population and an expected increase in households over the next five years, pointing to a larger tenant base and gradual renter pool expansion. This demand backdrop, paired with solid neighborhood amenities, provides a constructive setup for multifamily performance, and aligns with investor takeaways from commercial real estate analysis based on WDSuite’s datasets.
Vintage context matters: the property’s 1973 construction is slightly newer than the neighborhood average stock. That positioning can be competitive versus older buildings, though selective system updates and common-area refreshes may still be prudent to sustain leasing momentum and minimize downtime during turns.
Safety trends compare favorably in a regional and national context. The neighborhood’s crime profile ranks 19 out of 71 across the Redding metro, indicating performance above the metro median. Nationally, violent-offense measures sit in the top quartile, while recent readings show a decline in violent incidents, even as property-related activity has trended up year over year. For investors, this mix suggests generally supportive perceptions with a watchlist item around property offenses and site-level security/lighting practices.
This 40-unit asset benefits from suburban fundamentals that favor stable tenancy: neighborhood occupancy sits in the low 90s and renter concentration is meaningful without being over-reliant on rentals. Elevated ownership costs versus income help sustain multifamily demand and support pricing power, while rent-to-income levels indicate manageable affordability pressure that can aid retention. According to CRE market data from WDSuite, the surrounding area shows steady population figures and an outlook for household growth within 3 miles, which expands the tenant base over the medium term.
Built in 1973, the property is slightly newer than the area’s average vintage, offering relative competitiveness against older stock while leaving room for targeted capital projects to modernize systems and finishes. Investors should account for recent softening in neighborhood occupancy versus five years ago and monitor property-offense trends, but the combination of strong metro-relative neighborhood ranking, resilient demand drivers, and ownership-cost dynamics presents a balanced, long-term multifamily thesis.
- Strong metro-relative positioning (ranked 2 of 71 neighborhoods) supports tenant appeal and leasing stability.
- Elevated ownership costs reinforce rental reliance, aiding pricing power and renewal prospects.
- Household growth within 3 miles points to a larger tenant base and occupancy support over time.
- 1973 vintage offers competitive positioning versus older stock with value-add potential via selective upgrades.
- Risks: monitor property-offense trends and any further occupancy softening; plan capex to maintain competitiveness.