| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 43rd | Good |
| Amenities | 40th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 115 Louie Ave, Lodi, CA, 95240, US |
| Region / Metro | Lodi |
| Year of Construction | 1985 |
| Units | 96 |
| Transaction Date | 2022-02-24 |
| Transaction Price | $12,600,000 |
| Buyer | LODI COMMONS 2022 LP |
| Seller | ARBOR SENIOR APARTMENTS |
115 Louie Ave, Lodi CA Multifamily Investment
Neighborhood occupancy has edged up over the last five years, supporting durable renter demand in Lodi; according to CRE market data from WDSuite, stabilized fundamentals and a high-cost ownership market underpin long-term leasing resilience.
Situated in Lodi’s inner-suburban fabric, the property’s 1985 vintage is newer than the neighborhood’s typical 1962 construction year. That relative youth can translate into competitive positioning versus older stock, while investors should still underwrite modernization of aging systems and common areas as part of a value-add plan.
Renter demand is supported by a meaningful renter-occupied share: within the neighborhood, 41.8% of housing units are renter-occupied, and within a 3-mile radius the renter share is 46.4%. This depth of tenant base typically aids leasing velocity and reduces downtime, especially where neighborhood occupancy has trended modestly higher in recent years. Median contract rents have risen over the past five years locally and are projected to continue growing within 3 miles, indicating sustained pricing power if units are maintained competitively.
Local amenities are mixed. Parks density performs strongly (top quartile nationally by park access), and grocery and restaurant access test above national midpoints. However, café and pharmacy densities are thin in the immediate area, which puts a premium on convenient on-site offerings and unit features to support retention. Average school ratings in the area skew below national midpoints; for workforce-oriented multifamily, this often places more weight on commute convenience and everyday retail access rather than school-district premiums.
Ownership costs are elevated relative to income (home values rank in higher national percentiles), which tends to sustain reliance on rental housing and can support lease retention. Neighborhood rent-to-income indicators remain manageable, suggesting limited affordability pressure and room for disciplined rent growth. Demographic statistics aggregated within a 3-mile radius show population growth in recent years with further gains and a notable increase in households projected, expanding the tenant pool and supporting occupancy stability, based on CRE market data from WDSuite.
Safety trends are mixed and should be monitored. Compared with neighborhoods nationwide, the area sits below the national midpoint for safety on several indicators, and recent year-over-year measures show an uptick in violent incidents. Property offenses track closer to lower national percentiles as well. These dynamics argue for prudent security features, resident screening, and partnership with local community programs.
At the metro level, conditions vary block to block, so investors should evaluate property-level controls (lighting, access management) and historical incident reports over multiple years rather than relying on a single period. Framing risk management in underwriting can help protect NOI and support resident retention.
Regional employers within commuting distance help anchor demand for workforce housing. The nearby base spans consumer products, logistics, healthcare services, and technology operations, which can support leasing stability and retention for well-managed assets.
- Clorox — consumer products (20.4 miles)
- DISH Network Distribution Center — logistics & distribution (27.3 miles)
- International Paper — packaging & paper (32.5 miles)
- Cardinal Health — healthcare distribution (32.8 miles)
- Xerox State Healthcare — healthcare IT services (34.4 miles)
115 Louie Ave offers a 96-unit footprint with an average unit size near 800 sq. ft., positioned in an inner-suburban pocket where renter demand is supported by a mid-40% renter-occupied share and a high-cost ownership market. Built in 1985, the asset is newer than the neighborhood average, which can provide an edge versus older stock while leaving room for targeted value-add through interior upgrades and systems modernization. According to CRE market data from WDSuite, the neighborhood’s occupancy has inched higher over five years and rents have trended upward, reinforcing the case for steady leasing and disciplined rent growth.
Demographic statistics aggregated within 3 miles point to population growth, rising household incomes, and a projected increase in households, all of which expand the tenant base and support occupancy stability. Amenity access is strongest in parks, groceries, and restaurants, while thinner café and pharmacy presence and below-median school ratings warrant an emphasis on on-site features, operations, and security to drive retention. Overall, the combination of durable renter demand, ownership-cost tailwinds, and value-add potential frames a balanced long-term thesis.
- 1985 vintage newer than area stock, with clear interior/system upgrade runway
- Renter-occupied concentration and growing 3-mile households support demand depth
- Elevated ownership costs bolster reliance on rentals and lease retention
- Neighborhood occupancy and rent trends remain constructive per WDSuite data
- Risks: below-midpoint safety metrics and uneven amenities call for strong operations