| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Fair |
| Demographics | 44th | Good |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1120 W Lockeford St, Lodi, CA, 95240, US |
| Region / Metro | Lodi |
| Year of Construction | 1973 |
| Units | 44 |
| Transaction Date | 1997-10-17 |
| Transaction Price | $1,155,000 |
| Buyer | FARACE JOSEPH |
| Seller | COSUMNES PROF BLDG PTP |
1120 W Lockeford St Lodi Multifamily Investment
This 44-unit property offers value-add potential in Lodi's Inner Suburb neighborhood, which maintains 90.5% occupancy rates according to CRE market data from WDSuite. The 1973 construction provides renovation upside in a market where median contract rents have grown 27% over five years.
The property sits in an Inner Suburb neighborhood ranking in the top quartile among 179 Stockton metro neighborhoods with an A rating. The area demonstrates strong rental demand fundamentals, with 47.3% of housing units occupied by renters - significantly above the metro average and ranking in the 86th percentile nationally. This high share of renter-occupied units reinforces multifamily demand in the immediate area.
Demographic data aggregated within a 3-mile radius shows a stable tenant base of 67,400 residents with modest population growth of 3.4% over five years. Household income trends support rental affordability, with median household income of $82,052 and projected growth to $123,606 by 2028. The forecast indicates renter pool expansion with households expected to increase 37.4% through 2028, supporting occupancy stability and lease-up velocity.
The neighborhood offers solid amenity access that enhances tenant retention. Restaurant density ranks first among metro neighborhoods with 79.38 establishments per square mile, while childcare facilities rank 12th at 3.38 per square mile in the 97th percentile nationally. Parks and grocery access both rank competitively, though pharmacy access is limited. School ratings average 0.5 out of 5, which may impact family tenant appeal but reflects broader regional patterns.
Neighborhood-level occupancy of 90.5% remains competitive despite a modest 5.8% decline over five years. Contract rents of $948 rank in the middle tier among metro neighborhoods but have grown 27.2% over five years, indicating pricing power. The rent-to-income ratio of 0.16 suggests manageable affordability pressure for tenant retention. Home values of $528,222 with 51.5% five-year appreciation reinforce rental demand as elevated ownership costs keep households in the rental market.
The neighborhood's safety profile shows mixed indicators that warrant monitoring. Property crime rates of 964.7 per 100,000 residents rank 99th among 179 metro neighborhoods, placing it in the 23rd percentile nationally. However, property crime has declined 29.3% year-over-year, ranking 30th among metro neighborhoods and indicating improving trends.
Violent crime remains more favorable at 57.8 incidents per 100,000 residents, ranking 69th among metro neighborhoods in the 40th percentile nationally. Violent crime has increased modestly by 2.8% year-over-year. The overall crime rank of 66th among metro neighborhoods places the area in the 46th percentile nationally, suggesting average safety conditions relative to comparable markets.
The Lodi area benefits from proximity to major corporate employers within commuting distance, supporting workforce housing demand for the property's tenant base.
- Clorox — consumer products manufacturing (19.9 miles)
- DISH Network Distribution Center — telecommunications distribution (27.6 miles)
- International Paper — industrial manufacturing (32.6 miles)
- Cardinal Health — healthcare distribution (33.0 miles)
- Xerox State Healthcare — business services (34.5 miles)
This 1973-constructed property presents value-add opportunities in a neighborhood that outperforms on key rental demand metrics. The 44-unit asset sits in an area with 47.3% renter-occupied housing units, ranking in the 86th percentile nationally and indicating strong multifamily fundamentals. Demographic projections show household growth of 37.4% through 2028 with median income rising to $123,606, supporting both occupancy stability and potential rent growth according to commercial real estate analysis from WDSuite.
The property's 50-year vintage aligns with value-add strategies while neighborhood-level occupancy of 90.5% and contract rent growth of 27.2% over five years demonstrate market resilience. Home values of $528,222 with 51.5% appreciation reinforce rental demand as elevated ownership costs sustain renter reliance on multifamily housing. However, investors should monitor the mixed safety profile and limited pharmacy access when evaluating tenant retention strategies.
- High renter occupancy share (47.3%) ranking 86th percentile nationally supports rental demand
- Projected 37.4% household growth through 2028 expands tenant base
- 1973 construction provides value-add renovation potential
- Neighborhood contract rents grew 27.2% over five years indicating pricing power
- Risk: Property crime rates rank below metro median requiring tenant retention focus