| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Good |
| Demographics | 42nd | Fair |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3590 El Portal Dr, Redding, CA, 96002, US |
| Region / Metro | Redding |
| Year of Construction | 1991 |
| Units | 97 |
| Transaction Date | 2017-05-16 |
| Transaction Price | $1,700,000 |
| Buyer | HERNANDEZ MANUEL |
| Seller | WILDTREE ENTERPRISES LLC |
3590 El Portal Dr Redding Multifamily Opportunity
Stabilized neighborhood occupancy and a high renter-occupied share point to steady tenant demand, according to WDSuite’s CRE market data. Ownership costs in the area tend to sustain renting behavior, supporting leasing durability for mid-sized assets.
Located in an inner-suburb pocket of Redding, the neighborhood posts an A rating and ranks 10 out of 71 metro neighborhoods, indicating competitive fundamentals for workforce-oriented multifamily. Neighborhood occupancy is 90.9%, signaling generally steady leasing conditions across the area rather than at this specific property.
Daily needs are well covered: grocery access ranks 2 out of 71 locally and sits in the 93rd percentile nationally, while restaurant density ranks 6 out of 71 and parks rank 7 out of 71. Childcare availability is also a relative strength (rank 5 out of 71; 84th percentile nationally). Café and pharmacy counts are thinner, which investors should factor into livability expectations.
Schools in the area average 3.0 out of 5 (rank 5 out of 71; 61st percentile nationally), offering a practical baseline for family renters. The neighborhood’s renter-occupied share is elevated (56.2%), which deepens the local tenant pool and supports demand stability for multifamily assets.
Home values trend on the higher side relative to incomes (value-to-income in the upper national percentiles), which often sustains reliance on rentals and can aid pricing power and retention. Rent-to-income levels remain manageable by national comparison, helping mitigate affordability pressure and supporting lease performance.
Within a 3-mile radius, recent population has been broadly steady with modest growth, and forecasts point to smaller household sizes alongside an increase in total households. For investors, that mix implies a larger tenant base over time even if population growth is muted, which can support occupancy stability and leasing velocity.
Safety trends are mixed but comparatively constructive. Overall crime ranks 30 out of 71 Redding metro neighborhoods, placing the area above the metro median and around the 61st percentile nationally. Property offenses benchmark stronger (about the 73rd percentile nationally) with a recent year-over-year decrease, while violent offense levels are closer to mid-pack nationally (about the 65th percentile) with less favorable near-term momentum.
For underwriting, these metrics suggest conditions that are generally competitive in the metro context, with monitoring warranted on violent incident trends. Property-level security measures and resident engagement programs can help sustain retention and asset performance.
This 97-unit asset was built in 1991, newer than the neighborhood’s average vintage, offering relative competitiveness versus older stock while leaving room for targeted modernization to capture rent premiums. Neighborhood occupancy is stable and the renter-occupied share is elevated, supporting depth of demand. According to CRE market data from WDSuite, local ownership costs are comparatively high versus incomes, which tends to reinforce reliance on multifamily housing and can support pricing power when managed thoughtfully.
Within a 3-mile radius, demographic patterns indicate steady population alongside an increase in households and smaller average household sizes over the forecast period—factors that can expand the renter pool and support occupancy stability. Given the area’s solid amenity access (groceries, restaurants, parks, childcare) and middle-of-the-pack school ratings, this submarket continues to serve renters seeking convenience at attainable rents, with value-add potential through selective renovations and customer service improvements.
- 1991 vintage positions the asset ahead of older neighborhood stock, with modernization upside for rent lift.
- Elevated renter-occupied share and stable neighborhood occupancy support leasing durability and retention.
- Higher ownership costs relative to incomes sustain renter demand, aiding pricing power when managed carefully.
- 3-mile household growth and smaller household sizes point to a larger tenant base and steady absorption.
- Risk: monitor violent-incident momentum and broader population softness; prioritize security, renewals, and value-focused upgrades.