| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Good |
| Demographics | 28th | Fair |
| Amenities | 37th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2651 Olive Ave, Atwater, CA, 95301, US |
| Region / Metro | Atwater |
| Year of Construction | 1976 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2651 Olive Ave, Atwater CA Multifamily Investment
Neighborhood occupancy is strong and renter demand is supported by a broadening renter base, according to WDSuite’s CRE market data, positioning this 1976-vintage, 25-unit asset for steady leasing in Atwater.
The property sits in an Inner Suburb neighborhood in Merced County that is competitive among Merced neighborhoods (ranked 20 out of 70) and shows solid day-to-day convenience: grocery access ranks strong locally (10 of 70) and is in the upper tier nationally, while childcare density is also comparatively strong. Cafes and parks are limited nearby, so the amenity mix leans toward practical essentials rather than leisure options.
Neighborhood-level occupancy is high and has strengthened over the past five years, signaling leasing stability for multifamily operators. Renter-occupied housing comprises a meaningful share of local units, indicating a viable tenant base; this renter concentration sits in the top quartile nationally, which typically supports absorption and renewal performance.
Within a 3-mile radius, population and household counts have grown in recent years with further gains projected, pointing to a larger tenant base over time. Median contract rents sit around the national midpoint, and the rent-to-income relationship suggests manageable affordability pressure, which can aid retention and reduce turnover risk.
Home values in the area trend higher than many U.S. neighborhoods, and the value-to-income relationship is elevated. For investors, a high-cost ownership market often sustains reliance on rental housing, supporting demand depth for well-managed apartments. Older neighborhood housing stock contrasts with this property’s 1976 construction, which can provide a competitive edge versus pre-1960 inventory while still warranting selective modernization to meet current renter expectations. These dynamics, combined with steady fundamentals highlighted by WDSuite’s commercial real estate analysis, position the area for consistent multifamily performance.
Neighborhood-level crime metrics are not available from WDSuite for this location at this time. Investors typically benchmark safety using city and county trend comparisons and on-the-ground property management insights to contextualize resident experience and long-term leasing implications.
Employer proximity with verified distances is not available in WDSuite for this address. Investors often evaluate workforce access by mapping commute sheds to major Merced County employers and institutional anchors to understand tenant demand and retention.
2651 Olive Ave offers a 25-unit footprint with neighborhood fundamentals that favor occupancy stability. Based on CRE market data from WDSuite, the surrounding area is competitive within the Merced metro and sits in the top quartile nationally for renter concentration, supporting a consistent tenant pipeline. The property’s 1976 vintage is newer than much of the local housing stock, suggesting relative competitiveness versus older buildings, though planning for targeted system upgrades and cosmetic refreshes can enhance positioning.
Household and population growth within a 3-mile radius, combined with rent levels near the national midpoint and a manageable rent-to-income relationship, point to durable demand and potential for steady renewals. Elevated ownership costs in the area further reinforce reliance on rental housing, which can support pricing power when paired with disciplined operations.
- Strong neighborhood occupancy and top-quartile renter concentration support leasing stability.
- 1976 construction offers a competitive edge versus older local stock, with value-add potential via modernization.
- 3-mile radius growth expands the tenant base, aiding renewals and absorption.
- Rent levels near national midpoint and manageable rent-to-income dynamics support retention.
- Risk: Limited lifestyle amenities nearby may temper rent premiums; capital planning for 1970s systems remains important.