| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 40th | Fair |
| Amenities | 26th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 367 N Union Rd, Manteca, CA, 95337, US |
| Region / Metro | Manteca |
| Year of Construction | 1985 |
| Units | 56 |
| Transaction Date | 2021-09-23 |
| Transaction Price | $13,500,000 |
| Buyer | KNIGHT HOLDINGS I LLC |
| Seller | MANTECA PROPERTY LLC |
367 N Union Rd Manteca Multifamily Investment
Positioned in Manteca’s inner suburbs, this 56‑unit asset benefits from a renter-leaning neighborhood and stable occupancy, according to WDSuite’s CRE market data.
The property sits in an Inner Suburb neighborhood of the Stockton, CA metro with a B neighborhood rating (ranked 84 among 179 metro neighborhoods). Local occupancy in the neighborhood is above the national median and mid-pack within the metro (93.8% occupancy; rank 103 of 179; 64th percentile nationally), supporting baseline leasing stability for multifamily.
Renter-occupied housing is a meaningful share of the local unit mix, which deepens the tenant base for apartments. The neighborhood’s renter concentration ranks 35 of 179 metro neighborhoods and sits in the top quartile nationally (87th percentile), indicating durable multifamily demand relative to many U.S. areas.
Livability signals are mixed. Pharmacies are plentiful (10th of 179 locally; 97th percentile nationally), while immediate on-block options for groceries, cafes, and parks are limited, implying residents rely on short drives for daily needs. Average school ratings trend below national norms (rank 37 of 179 locally; 37th percentile nationally) but are competitive among Stockton neighborhoods.
Home values in the neighborhood track on the higher side for the region (88th percentile nationally), which can sustain reliance on rental housing and support pricing power for well-positioned assets. Median household incomes trend solidly above national norms (79th percentile), and rent-to-income levels suggest manageable affordability pressure, a positive for retention risk and lease management.
Construction vintage at the asset (1985) is modestly older than the neighborhood average year built (1989). For investors, that points to routine capital planning and potential value‑add via targeted interior and systems upgrades to remain competitive against newer stock.
Demographic statistics within a 3‑mile radius show recent population growth with an expanding household base over the last five years and additional gains projected, indicating a larger tenant pool that can support occupancy and future leasing.
Safety indicators are mixed when viewed against both local and national benchmarks. The neighborhood s overall crime standing is weaker within the Stockton metro (ranked 120 of 179) and below average nationally (28th percentile), while property and violent offense categories trend closer to the national median (both around the mid‑50s percentiles). Recent one‑year movements show volatility, so investors should underwrite with conservative assumptions and review the latest block‑group trends rather than single‑year swings.
Nearby employers provide a diversified white‑collar employment base that can support renter demand through commute convenience and regional job stability, including Clorox, Ross Stores, Chevron, and Boston Scientific.
- Clorox corporate offices (3.9 miles)
- Ross Stores corporate offices (36.4 miles) HQ
- Chevron corporate offices (39.7 miles) HQ
- Boston Scientific - Building 5 corporate offices (44.4 miles)
367 N Union Rd offers 56 units in a renter-leaning Stockton metro neighborhood where occupancy trends sit above the national median and local renter concentration is competitive among peers. The 1985 vintage is slightly older than area stock, which creates a straightforward value‑add path via interiors and select building systems while leveraging a tenant base supported by higher household incomes and a high-cost ownership market that sustains rental demand.
Demographics aggregated within a 3‑mile radius point to population growth and a notable increase in households, expanding the renter pool and supporting leasing stability. According to CRE market data from WDSuite, neighborhood rents align with incomes in a way that limits affordability pressure relative to many high-cost California submarkets, helping preserve retention and revenue durability under prudent operations.
- Occupancy above national median and renter concentration in the top quartile nationally support demand depth
- 1985 vintage enables targeted value‑add and system upgrades to compete with newer stock
- Expanding 3‑mile household base and higher incomes underpin leasing stability and pricing power
- Risks: mixed safety signals, limited immediate walkable amenities, and below‑national school ratings warrant conservative underwriting