| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Best |
| Demographics | 8th | Poor |
| Amenities | 39th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 22200 California Ave, San Joaquin, CA, 93660, US |
| Region / Metro | San Joaquin |
| Year of Construction | 1992 |
| Units | 38 |
| Transaction Date | 2025-08-21 |
| Transaction Price | $3,222,500 |
| Buyer | SJ3 INVESTMENT GROUP LP |
| Seller | SAN JOAQUIN ENTERPRISES III |
22200 California Ave, San Joaquin Multifamily Investment
Neighborhood occupancy has trended strong and renter demand is resilient, according to WDSuite’s CRE market data, supporting stable operations for a 38-unit asset. Positioning emphasizes workforce affordability and steady tenant retention drivers rather than premium amenity appeal.
The property sits in an Inner Suburb pocket of Fresno County with a neighborhood rating of C+. Among 246 Fresno metro neighborhoods, this area ranks 146, placing it near the metro middle. Current neighborhood occupancy is high and has improved over the past five years, a backdrop that supports leasing stability for multifamily owners. Renter-occupied share is elevated for the metro, indicating a deeper tenant base and consistent demand for apartments.
Daily-needs access leans practical over lifestyle. Grocery access ranks competitively for the metro and tests in a high national percentile, while childcare availability is also relatively strong. Conversely, parks, pharmacies, and cafes are sparse, so residents rely more on essentials than destination amenities. Average school ratings in the area are low compared with national norms, which investors may weigh when considering long-term renter profiles and retention.
Construction patterns are slightly older locally (average 1988), while the subject 0was built in 1992. This gives the asset a modest competitive edge versus older stock, with potential to outcompete nearby properties on finishes and systems if light modernization is executed. Elevated ownership costs relative to incomes at the neighborhood level (high national percentile for value-to-income ratio) tend to reinforce reliance on rental housing, which can support occupancy and pricing discipline.
Within a 3-mile radius, demographic statistics show recent population softness but a projected rebound and household expansion by 2028. A larger household count alongside a gradual reduction in average household size points to a broader renter pool and more lease-up opportunities for well-managed units. Neighborhood median rents test below many coastal California submarkets, keeping rent-to-income ratios moderate and supporting retention, based on CRE market data from WDSuite.
Neighborhood-level crime metrics are not available from WDSuite for this area. Investors commonly benchmark local police reports and Fresno metro trend data to contextualize safety relative to comparable Inner Suburb neighborhoods and to inform operating practices (lighting, access control, and resident engagement).
When underwriting, consider comparative context rather than block-level assumptions, and evaluate on-site measures that can enhance resident comfort and lease retention without overcapitalizing.
The employment base nearby skews toward food processing and related industrial roles, supporting workforce housing demand and commute convenience for renters. The employers listed below reflect this concentration.
- Con Agra Foods — food processing (8.4 miles)
This 38-unit asset, built in 1992, benefits from a neighborhood with sustained high occupancy and a renter-occupied concentration that deepens the tenant base. The vintage is slightly newer than the local average, suggesting balanced capital needs and an opportunity to capture value through targeted interior refreshes and operational improvements. Elevated ownership costs relative to income in the neighborhood tend to sustain rental demand, while moderate rent-to-income levels support retention and leasing velocity. According to CRE market data from WDSuite, neighborhood occupancy trends remain favorable versus broader benchmarks.
Within a 3-mile radius, WDSuite demographic statistics point to household growth and a projected increase in renter concentration by 2028, indicating an expanding pool of prospective tenants. Amenity access is practical (not lifestyle-driven), which aligns the asset with workforce renters prioritizing value and proximity over premium retail. Key risks include limited recreational amenities and lower-rated schools, which place a premium on competitive pricing, maintenance quality, and resident services to sustain demand.
- High neighborhood occupancy and elevated renter-occupied share support demand depth and leasing stability.
- 1992 vintage offers a modest edge over older stock with room for targeted value-add.
- Ownership costs relative to income reinforce reliance on rentals, aiding pricing discipline and retention.
- 3-mile forecasts indicate household growth and a rising renter pool, supporting future leasing.
- Risks: sparse lifestyle amenities and lower school ratings require careful rent positioning and asset management.