| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Fair |
| Demographics | 54th | Good |
| Amenities | 68th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 540 South St, Redding, CA, 96001, US |
| Region / Metro | Redding |
| Year of Construction | 1977 |
| Units | 84 |
| Transaction Date | 2007-04-01 |
| Transaction Price | $5,000,000 |
| Buyer | Offering |
| Seller | --- |
540 South St, Redding CA Multifamily with Durable Renter Base
Neighborhood occupancy has held in a stable range and renter concentration is just over half of units, supporting depth of demand, according to CRE market data from WDSuite. Position within an A-rated submarket provides a balanced backdrop for rent growth and retention management.
This Inner Suburb location rates A and ranks among the top quartile of Redding’s 71 neighborhoods, offering investors a solid blend of livability and demand drivers. Restaurants index strongly (high national percentile), while everyday needs like parks, pharmacies, and a grocery option are well represented relative to national benchmarks. Caf s are sparse, but the overall amenity mix supports daily convenience and resident retention.
At the neighborhood level, renter-occupied housing accounts for roughly half of units (50.8%), indicating a meaningful tenant base for multifamily product. The reported occupancy rate for the neighborhood is in a steady band, and a rent-to-income ratio around 0.19 suggests manageable affordability pressure that can aid lease stability and renewal outcomes. Median contract rents sit near the middle of national comparisons and have advanced over the past five years, providing room for disciplined revenue management.
Within a 3-mile radius, population has ticked up modestly in recent years and households are projected to expand further, implying a larger tenant base over the medium term and supporting occupancy stability. The renter share within this radius remains elevated relative to ownership, which reinforces depth of demand for professionally managed apartments.
The property s 1977 vintage is newer than the neighborhood s average construction year, positioning it competitively versus older stock while still warranting selective modernization for building systems and interiors. Average unit size of 641 square feet aligns with efficient layouts that typically appeal to cost-conscious renters seeking proximity to services.
Two considerations for underwriting: average school ratings in the neighborhood trail national norms, and caf density is limited. Both factors can be mitigated by the strong showing in daily-needs amenities and the submarket s overall A rating, which is competitive among Redding neighborhoods.
Neighborhood safety indicators compare favorably to national norms: overall crime sits above the national median for safety, with both property and violent offense levels landing in higher national percentiles (safer than average). Recent trends are mixed — property offenses improved year over year, while violent incidents rose — so investors should monitor momentum alongside on-site security, lighting, and resident screening practices.
Relative to the broader region, conditions track near the metro middle, but the national positioning in the top half provides a constructive baseline for leasing and retention strategies. As always, block-level conditions can vary; underwriting should consider recent local reports and operational controls rather than relying solely on citywide narratives.
540 South St combines an A-rated neighborhood position with a renter-heavy housing base that supports consistent tenant demand. Based on CRE market data from WDSuite, neighborhood occupancy remains steady and rent-to-income levels around 0.19 indicate manageable affordability pressure, helping underpin retention. The 1977 construction is newer than the area s average vintage, offering relative competitiveness versus older stock and potential value-add through targeted renovations. Within a 3-mile radius, modest population growth and an expected increase in households point to a gradually expanding renter pool, aiding long-term leasing stability.
Operationally, everyday amenities (parks, pharmacy, grocery) compare well against national benchmarks and restaurant density is strong, supporting livability. Counterpoints include below-average school ratings and a recent uptick in violent incidents despite improvements in property offenses; these are manageable with prudent operations and risk controls. With 84 units averaging 641 square feet, the asset skews toward efficient layouts that typically serve steady workforce demand.
- A-rated submarket standing among 71 Redding neighborhoods supports demand fundamentals
- Stable neighborhood occupancy and renter depth with manageable rent-to-income levels
- 1977 vintage newer than area average, enabling competitive positioning and value-add potential
- 3-mile radius shows growing households, reinforcing a larger tenant base over time
- Risks: softer school ratings and mixed safety trend; addressable via operations and asset management