| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Fair |
| Demographics | 23rd | Poor |
| Amenities | 29th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 621 Hale Rd, Lodi, CA, 95240, US |
| Region / Metro | Lodi |
| Year of Construction | 1987 |
| Units | 40 |
| Transaction Date | 2016-06-21 |
| Transaction Price | $2,500,000 |
| Buyer | BLACKROC HOLDING LLC |
| Seller | GILL BALJIT SINGH |
621 Hale Rd, Lodi CA — Multifamily Investment
Neighborhood occupancy runs in the mid‑90s and renter demand is deep, according to WDSuite’s CRE market data, supporting stable cash flow potential for a 1987-vintage, 40‑unit asset in Lodi’s inner suburb context.
Located in Lodi’s Inner Suburb within the Stockton metro, the neighborhood posts a 95.4% occupancy rate and ranks in the top quartile nationally for occupancy stability (73rd percentile), based on CRE market data from WDSuite. The share of housing units that are renter‑occupied is about two‑thirds (66.8%), indicating a sizable tenant base and demand depth for multifamily product.
Vintage matters for competitive positioning: with construction in 1987 versus a neighborhood average around 1960, the property skews newer than much of the local stock. That typically supports leasing versus older comparables, while investors should still plan for system updates and selective renovations to maintain positioning.
Livability signals are mixed. Dining access is a relative strength (restaurant density sits around the 94th percentile nationally) and groceries are well‑represented (about the 83rd percentile), while cafes, parks, childcare, and pharmacies are sparse within the immediate neighborhood. Average school ratings skew below national medians, which can affect family‑driven demand but is often less determinative for workforce‑oriented renter pools.
Within a 3‑mile radius, demographics point to gradual population growth over the past five years with households also increasing, and forecasts indicate further gains ahead—supporting a larger tenant base over time. Median home values sit above national medians and the value‑to‑income ratio is elevated (around the 77th percentile nationally), suggesting a high‑cost ownership market that tends to reinforce reliance on rentals and can aid lease retention. Neighborhood rent‑to‑income near 0.20 implies moderate affordability pressure, which may support pricing power while still requiring active lease management.
Safety indicators are mixed when benchmarked nationally. Overall crime levels track near the national middle (around the 53rd percentile for safer outcomes), while property crime sits closer to the higher side of national ranges. Notably, both property and violent offense rates have improved year over year, with declines that rank strongly versus national peers, according to WDSuite’s data. For investors, the key takeaway is a market with mid‑pack safety today and a recent downward trend in reported offenses.
Regional employment anchors within commuting distance include consumer goods, telecom distribution, healthcare services, and industrial packaging offices, supporting workforce housing demand and leasing stability for nearby multifamily assets.
- Clorox — consumer goods corporate offices (19.2 miles)
- DISH Network Distribution Center — telecom distribution (28.7 miles)
- International Paper — packaging & paper (34.0 miles)
- Cardinal Health — medical distribution (34.2 miles)
- Xerox State Healthcare — healthcare IT services (35.9 miles)
This 40‑unit property at 621 Hale Rd (built 1987) benefits from a renter‑oriented neighborhood where occupancy is 95.4% and renter concentration is high, underscoring demand depth and potential durability of collections. According to CRE market data from WDSuite, neighborhood occupancy benchmarks land in the top quartile nationally, while an elevated value‑to‑income environment suggests ownership is comparatively costly—conditions that often sustain multifamily demand and support retention.
Relative to older local stock, the 1987 vintage can compete on appeal and maintenance profile, though investors should underwrite ongoing system refreshes and targeted interior updates. Within a 3‑mile radius, recent and projected increases in population and households point to a gradually expanding renter pool, which, paired with moderate rent‑to‑income levels, can aid occupancy stability and measured rent growth management. Key watch items include uneven amenity coverage, below‑median school ratings, and mid‑pack safety that, while improving, still warrants prudent operations.
- Occupancy near mid‑90s and top‑quartile stability support consistent leasing
- 1987 vintage out‑positions older neighborhood stock with selective value‑add upside
- High‑cost ownership context reinforces renter reliance and retention potential
- 3‑mile population and household growth expand the tenant base over time
- Risks: patchy amenities, below‑median school ratings, and mid‑pack but improving safety