| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 57th | Good |
| Amenities | 33rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 395 Hilltop Dr, Redding, CA, 96003, US |
| Region / Metro | Redding |
| Year of Construction | 1992 |
| Units | 40 |
| Transaction Date | 2013-12-31 |
| Transaction Price | $4,056,386 |
| Buyer | Cornerstone Healthcare Real |
| Seller | D. Thomas and Ella N. McGregor |
395 Hilltop Dr Redding Multifamily Investment Opportunity
Neighborhood occupancy remains tight and renter demand is supported by a high renter-occupied share, according to WDSuite’s CRE market data. The focus here is stable leasing fundamentals rather than outsized growth promises.
Positioned in Redding’s inner-suburban Hilltop corridor, the property benefits from day-to-day convenience that supports leasing stability. Neighborhood grocery and pharmacy access rank in the top quartile among 71 metro neighborhoods, while restaurants are similarly competitive; by contrast, cafes, childcare, and parks are limited in this immediate area. For investors, that mix tends to favor practical livability and errand efficiency over lifestyle amenities.
Multifamily fundamentals are solid at the neighborhood level. Neighborhood occupancy is 96.6% and sits in the top quartile locally and above national norms, reinforcing expectations for steady renewals and manageable downtime. Median contract rents are competitive among Redding neighborhoods, suggesting pricing that is supported by the local tenant base rather than stretched.
Tenure dynamics point to depth of demand: the neighborhood shows a high share of renter-occupied housing units, indicating a broad tenant pool and potential resilience in backfilling units. Within a 3-mile radius, demographics show a stable population with modest recent growth and a slight increase in total households, which supports a gradual expansion of the renter pool. Forward-looking 3-mile projections indicate additional population and household growth, which typically aids occupancy stability and absorption of renovated units.
On affordability, neighborhood home values are elevated relative to incomes (high national percentile for value-to-income), which in Redding can sustain reliance on rental options and help retention. At the same time, the neighborhood’s rent-to-income ratio sits on the lower side nationally, suggesting some room for thoughtful rent management without materially increasing turnover risk.
Safety indicators compare favorably within the Redding metro and versus national benchmarks. The neighborhood falls within the top quartile nationally for overall safety, and ranks near the better end among 71 metro neighborhoods. Recent data also shows a meaningful year-over-year improvement in violent offense rates, which supports investor expectations for resident retention and property operations.
As with any submarket, conditions can vary by block and over time, but current readings suggest a comparatively secure environment in the context of both the metro and national landscape.
395 Hilltop Dr is a 40-unit 1992-vintage asset that aligns with renter-driven fundamentals in a neighborhood showing high occupancy and a strong renter-occupied housing share. The vintage is slightly newer than the area average, which can offer a competitive edge versus older stock, while still leaving room for targeted modernization to enhance rent positioning. Based on CRE market data from WDSuite, the surrounding neighborhood’s occupancy outperforms metro medians, and elevated ownership costs locally help sustain reliance on multifamily housing.
Within a 3-mile radius, recent household growth and projected increases in both households and incomes point to a gradually expanding tenant base. Combined with relatively manageable rent-to-income levels, this supports a case for steady leasing, incremental value-add execution, and disciplined rent management rather than aggressive growth assumptions.
- Neighborhood occupancy in the top local tier supports leasing stability and renewal potential.
- 1992 vintage offers competitive positioning versus older stock with room for targeted renovations.
- Elevated ownership costs reinforce renter reliance, aiding retention and pricing discipline.
- 3-mile demographics indicate a growing household base and income gains that support demand.
- Risks: limited nearby lifestyle amenities (cafes/parks) and income sensitivity require careful rent management and value-add pacing.