| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Good |
| Demographics | 18th | Poor |
| Amenities | 37th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 21100 State Highway 33, Dos Palos, CA, 93620, US |
| Region / Metro | Dos Palos |
| Year of Construction | 1988 |
| Units | 40 |
| Transaction Date | 2007-03-22 |
| Transaction Price | $1,500,000 |
| Buyer | MERCED COMMUNITY PARTNERS L P |
| Seller | DOS PALOS ASSOCIATES |
21100 State Highway 33, Dos Palos CA Multifamily Investment
Neighborhood fundamentals point to steady renter demand and full occupancy at the area level, according to WDSuite’s CRE market data, with a mixed tenure profile that can support consistent lease-up and retention.
Situated in an Inner Suburb of Merced County with a neighborhood rating of B, the location is competitive among Merced neighborhoods (ranked 27 out of 70). Investors benefit from balanced local dynamics that indicate a viable tenant base and durable occupancy at the neighborhood level.
Daily-life amenities are serviceable: cafes rank in the top quartile metro-wide (9 of 70), and grocery and restaurant density sit above the metro median (ranks 18 and 17 of 70, respectively). Childcare, parks, and pharmacies are limited in the immediate neighborhood (all ranking near the bottom of the metro), so residents may rely on nearby communities for those needs. This mix supports basic convenience for renters while signaling some trade-offs in lifestyle amenities.
The neighborhood’s occupancy is extremely tight based on area statistics, with the neighborhood occupancy rate measuring at the top nationally. This figure describes the broader neighborhood, not this specific property, but it indicates limited vacant stock and supports leasing stability for multifamily operators.
Tenure patterns show a meaningful pool of renter-occupied housing (around two-fifths of units), which supports depth of demand for a 40-unit asset. Within a 3-mile radius, recent trends show households increasing even as population edged lower, implying smaller household sizes and a steady flow of renters entering the market. Forward-looking projections in the same radius point to notable growth in households, which would expand the tenant base if realized; investors should monitor how local infrastructure and employment trends track those projections.
Ownership costs in the neighborhood trend elevated relative to local incomes (value-to-income in a high national percentile), which typically reinforces reliance on rental housing and can aid lease retention. At the same time, neighborhood-level rents benchmark as relatively moderate against incomes, which may help manage affordability pressure and support stable occupancy through cycles.
Construction vintage matters for competitive positioning. With a 1988 build against a neighborhood average vintage around mid-century, the property is newer than much of the surrounding stock. That generally supports competitiveness versus older assets, though investors should still underwrite typical modernization and system updates given asset age.
Comparable, neighborhood-level safety metrics are not available in WDSuite for this area. Investors typically contextualize property-specific security measures and incident history against broader Merced metro trends and peer neighborhoods when performing due diligence.
- Con Agra Foods — packaged foods corporate offices (43.8 miles)
Regional employment is anchored by manufacturers and food processing, offering a commutable workforce base that can support renter demand and lease retention for workforce housing.
This 40-unit, 1988-vintage asset is positioned in a neighborhood that ranks competitive within the Merced metro and exhibits extremely tight area occupancy levels. The property’s newer-than-neighborhood vintage supports competitiveness versus older local stock, while the area’s elevated value-to-income context tends to sustain reliance on rentals and supports retention. According to CRE market data from WDSuite, neighborhood rents benchmark as relatively manageable versus incomes, which can aid lease stability.
Within a 3-mile radius, households have grown even as population ticked down, implying smaller household sizes and a stable or expanding renter pool. Projections indicate notable household increases ahead, which, if realized, would deepen tenant demand; prudent underwriting should account for the pace of employment growth and infrastructure to support that outlook.
- Competitive neighborhood standing in the Merced metro with very tight area occupancy supporting leasing stability
- 1988 vintage offers relative competitive positioning versus older local stock with scope for targeted modernization
- Elevated ownership costs relative to incomes reinforce renter reliance, aiding retention and pricing discipline
- 3-mile radius shows household growth and projected renter pool expansion, supporting demand depth
- Risks: limited nearby childcare/parks/pharmacies and reliance on regional employment growth to realize projections