| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Fair |
| Demographics | 42nd | Good |
| Amenities | 82nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 905 Rutledge Dr, Lodi, CA, 95242, US |
| Region / Metro | Lodi |
| Year of Construction | 1985 |
| Units | 49 |
| Transaction Date | 2001-11-16 |
| Transaction Price | $3,775,000 |
| Buyer | LODI MERITAGE 2001 LLC |
| Seller | 49 LODI INVESTORS |
905 Rutledge Dr, Lodi CA — Newer-Vintage Multifamily in High-Cost Ownership Market
Neighborhood occupancy and renter demand appear steady relative to national norms while ownership costs run elevated for the area, according to WDSuite’s CRE market data. These dynamics suggest balanced leasing conditions at the neighborhood level, not the property, with scope for durable cash flow management.
Situated in Lodi’s inner-suburb fabric, the neighborhood ranks 16 out of 179 across the Stockton metro (A-rated), signaling competitive positioning among metro neighborhoods. Amenity access tests well above national norms, with cafes, groceries, parks, and pharmacies all in the top quartile nationally, supporting day-to-day convenience that can aid tenant retention. Neighborhood occupancy is measured at the neighborhood level and sits slightly above national norms but is mid-pack locally, indicating stable yet competitive leasing conditions.
The asset’s 1985 construction is newer than the neighborhood’s average vintage (1970), which can offer relative competitiveness versus older stock. Investors should still underwrite selective modernization and systems updates to preserve positioning against both renovated legacy properties and newer deliveries.
Within a 3-mile radius, households have grown and incomes have moved higher, expanding the renter pool and supporting rent levels. Renter-occupied housing accounts for an estimated 42.7% of units within this 3-mile area, indicating a meaningful base of demand for multifamily product rather than reliance on a narrow tenant segment. The neighborhood’s rent-to-income ratio trends lower than many U.S. areas, which can support lease retention and reduce move-outs due to affordability pressure.
Home values register in the upper national percentiles, pointing to a high-cost ownership market that tends to sustain reliance on rental housing—an advantage for absorption and pricing power during renewals. Schools average around the national middle and are competitive among Stockton neighborhoods, which, alongside strong amenity coverage, reinforces the area’s family-friendly profile. These observations are based on commercial real estate analysis using WDSuite’s data for the neighborhood and 3-mile demographics, not the property itself.
Neighborhood safety indicators are mixed. Relative to U.S. neighborhoods overall, the area benchmarks below the national middle on safety, while ranking around the mid-range within the Stockton metro (measured against 179 neighborhoods). Property crime has eased year over year (approximately a mid-single-digit decline), which is constructive for asset operations, though reported violent incidents have risen over the same period and warrant ongoing monitoring.
Investors should underwrite prudent security measures and resident engagement, recognizing that conditions can vary block to block and over time. These observations reflect neighborhood-level trends rather than property-specific data.
Regional employment access includes consumer goods, logistics, packaging, healthcare services, and government healthcare administration, supporting a diversified renter base with commutable drives to major job nodes.
- Clorox — consumer goods (20.5 miles)
- DISH Network Distribution Center — logistics/warehousing (27.0 miles)
- International Paper — packaging and paper (31.8 miles)
- Cardinal Health — healthcare distribution (32.3 miles)
- Xerox State Healthcare — healthcare administration/IT (33.6 miles)
905 Rutledge Dr offers a 49-unit, 1985-vintage multifamily footprint with average unit sizes around 875 sf, aligning with renter demand for practical space in a neighborhood that is competitive within the Stockton metro. Occupancy at the neighborhood level trends slightly above national norms while local positioning is mid-pack, and elevated ownership costs in the area help sustain multifamily demand and support renewal pricing. Based on CRE market data from WDSuite, amenity access is strong and neighborhood rents track to manageable rent-to-income levels, which can aid lease retention and stabilize operations.
Within a 3-mile radius, population and household growth, alongside rising incomes, point to a larger tenant base over the medium term. The property’s newer-than-average vintage versus local stock suggests an opportunity to compete effectively with light renovations and targeted common-area updates, while keeping capital plans disciplined. Safety metrics are mixed year over year, so underwriting should incorporate appropriate site-level measures without assuming outsized improvement.
- Newer-than-area vintage (1985) supports competitive positioning with selective modernization
- High-cost ownership market sustains renter reliance and supports renewal pricing
- Strong amenity access and manageable rent-to-income levels aid retention
- 3-mile growth in households and incomes expands the tenant base over time
- Risk: mixed safety trends and mid-pack local occupancy require disciplined operations