| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Fair |
| Demographics | 32nd | Fair |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 198 Northgate Dr, Manteca, CA, 95336, US |
| Region / Metro | Manteca |
| Year of Construction | 1986 |
| Units | 72 |
| Transaction Date | 2011-09-28 |
| Transaction Price | $4,800,000 |
| Buyer | JCM Partners |
| Seller | Olive Park Apartments LLC |
198 Northgate Dr Manteca 72-Unit Multifamily Investment
Positioned in an inner-suburban pocket with steady renter demand and elevated ownership costs that tend to support leasing, according to WDSuite s CRE market data.
This inner-suburb neighborhood ranks 34 out of 179 in the Stockton metro, placing it in the top quartile locally for overall performance. Amenity access is a relative strength: parks density is among the highest in the metro, and dining, cafes, and groceries are competitive by national standards, supporting day-to-day livability for residents and helping with leasing and retention.
Neighborhood occupancy is reported in the low-90% range, which has eased compared with five years ago. For investors, that suggests attention to product differentiation and operations will matter, but a broad tenant base remains in place. The share of housing units that are renter-occupied is around two-fifths, indicating a meaningful renter concentration that supports multifamily demand depth rather than relying on a narrow segment.
Home values sit high relative to many U.S. neighborhoods (nationally high percentile), which in practice reinforces renter reliance on multifamily housing and can support pricing power, while the neighborhood s rent-to-income profile appears manageable. Average school ratings trend below the national median, which can modestly temper appeal for some family renters; investors may offset this with on-site amenities and value-focused finishes.
Within a 3-mile radius, WDSuite s demographics indicate recent population growth with additional gains projected over the next five years, alongside an increase in households. This implies a larger local renter pool and potential support for occupancy stability. Notably, the average neighborhood construction year skews older (late 1960s); with a 1986 vintage, this property is newer than much of the nearby stock, offering a competitive edge versus older assets while still allowing for targeted upgrades to drive rent premiums.
Operationally, the area s amenity mix is generally favorable for renters, but limited pharmacy presence may be a convenience gap. Overall, compared with metro peers and national benchmarks, the neighborhood combines everyday convenience with a solid—if not peak—occupancy and demand profile that multifamily investors can underwrite with realistic assumptions.
Relative to other neighborhoods in the Stockton metro, crime metrics rank 123 out of 179, which is below the metro average. Nationally, the neighborhood sits in a lower safety percentile compared with U.S. neighborhoods overall. For investors, this warrants pragmatic on-site measures (lighting, access control) and careful leasing/management policies rather than reliance on external improvements.
Recent year-over-year changes in reported offense estimates show volatility. Interpreting these signals at the neighborhood level—and monitoring trend direction with local law enforcement data—can help calibrate security budgets and resident engagement strategies without overreacting to short-term shifts.
The employment base combines local operations and regional corporate hubs that broaden commuter options and help sustain renter demand. Employers include Clorox nearby, plus Ross Stores, The Clorox Company, and Chevron accessible within regional driving distance.
- Clorox corporate offices (3.9 miles)
- Ross Stores corporate offices (37.5 miles) HQ
- The Clorox Company corporate offices (38.6 miles)
- Chevron corporate offices (40.8 miles) HQ
The property s 1986 vintage is newer than the neighborhood s older housing stock, giving it a competitive position versus many nearby assets while still offering value-add pathways through modernizations and systems upgrades. According to CRE market data from WDSuite, the surrounding neighborhood maintains occupancy in the low-90% range with a renter-occupied share around two-fifths—enough depth to support leasing, particularly as elevated home values in the area tend to sustain rental demand.
Within a 3-mile radius, recent population gains and a projected increase in households point to a larger tenant base over the medium term, supporting occupancy stability and rent growth potential if renovations align with local affordability. Key underwriting considerations include below-metro-average safety metrics, softer school ratings, and the need to differentiate amid easing occupancy trends. Taken together, the case favors disciplined operations and targeted capital to capture durable returns.
- Newer 1986 vintage versus older neighborhood stock supports competitive positioning with targeted upgrades
- Low-90% neighborhood occupancy and meaningful renter concentration underpin demand
- High ownership costs locally reinforce renter reliance, aiding pricing power and retention
- 3-mile demographics indicate population growth and a larger household base to support leasing
- Risks: below-metro-average safety, modest school ratings, and recent occupancy softening require active management