| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Poor |
| Demographics | 57th | Best |
| Amenities | 28th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2241 N Union Rd, Manteca, CA, 95336, US |
| Region / Metro | Manteca |
| Year of Construction | 2008 |
| Units | 98 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2241 N Union Rd Manteca Multifamily Investment, 2008 Vintage
Neighborhood occupancy is elevated and ownership costs are high for the area, supporting renter demand according to WDSuite’s CRE market data. Focus is on steady leasing dynamics at the submarket level rather than outsized growth assumptions.
Situated in suburban Manteca within the Stockton, CA metro, the property benefits from a neighborhood that trends above the metro median for occupancy stability. The local neighborhood’s occupancy rank sits in the stronger half among 179 metro neighborhoods, and national comparisons place it in the top quintile for occupied housing — a favorable backdrop for lease retention and pricing discipline.
Amenity access is mixed. Parks performance is competitive among Stockton neighborhoods (ranked in the stronger third out of 179 and above the national midpoint), while grocery and restaurant density are closer to metro middle-of-the-pack and below top-quartile national benchmarks. Limited cafes and pharmacies nearby signal a car-oriented environment, so onsite conveniences and in-unit features can be meaningful differentiators for tenant satisfaction.
Ownership costs are elevated for the neighborhood (home values fall in the 91st percentile nationally), which tends to reinforce reliance on multifamily rentals and can support lease stability, especially as residents weigh rent versus buy. At the same time, rent-to-income appears favorable by national comparison, suggesting manageable affordability pressure that can aid renewal rates and reduce turnover risk.
Within a 3-mile radius, the resident base shows steady population growth with an expanding household count and rising incomes, pointing to a gradually larger tenant base. Forecasts indicate further population and household increases over the next five years, which supports absorption and occupancy stability rather than a dependence on short-term spikes. Renter-occupied housing makes up roughly a third of units within this 3-mile radius, providing adequate depth for multifamily demand without oversaturation.
Vintage positioning is a relative strength: the building’s 2008 construction is materially newer than the neighborhood’s older housing stock (average year 1966). This typically improves competitive standing versus nearby properties, while investors should still plan for mid-life system updates and targeted common-area enhancements to maintain NOI resilience.
Relative to the Stockton metro, overall crime performance is competitive among the 179 neighborhoods, indicating conditions that are not among the weakest cohorts locally. Nationally, the neighborhood trends around the middle for composite crime metrics, with stronger standings for property and violent offense rates compared to many U.S. neighborhoods.
Recent year-over-year estimates indicate an uptick in both property and violent offense rates, so investors should monitor trend direction and consider standard security measures and lighting as part of capital planning. The takeaway is a generally serviceable safety profile for workforce-oriented leasing, with attention warranted on trend management rather than block-level claims.
Nearby employment anchors include consumer products and retail headquarters presence within commutable distance, supporting a diverse workforce renter base and helping stabilize leasing. The list below highlights Clorox, Ross Stores, The Clorox Company, and Chevron by proximity.
- Clorox — consumer products (2.7 miles)
- Ross Stores — retail HQ (36.7 miles) — HQ
- The Clorox Company — consumer products (37.9 miles)
- Chevron — energy HQ (39.9 miles) — HQ
2241 N Union Rd offers investors a 2008-vintage, 98-unit asset positioned against an older neighborhood base, providing relative competitiveness and potential for selective value-add to protect rent roll and curb future CapEx volatility. According to CRE market data from WDSuite, the surrounding neighborhood trends above the metro median for occupancy while national comparisons indicate strong occupied housing levels — supportive for steady leasing and renewal management.
Within a 3-mile radius, population and household counts have increased and are projected to expand further, widening the renter pool. Elevated home values compared with national norms suggest a high-cost ownership market that can sustain multifamily reliance and retention, while rent-to-income metrics indicate manageable affordability pressure, aiding occupancy stability. The combination points to durable tenant demand with measured upside from interior upgrades and operational execution rather than dependence on aggressive growth assumptions.
- Newer 2008 construction versus older local stock, enhancing competitive positioning
- Above-metro neighborhood occupancy supports steady leasing and renewal performance
- High-cost ownership landscape reinforces renter reliance and pricing resilience
- Expanding 3-mile population and households increase the tenant base over time
- Risk: recent offense-rate upticks warrant monitoring and routine safety investments