| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 45th | Good |
| Amenities | 47th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 390 N Union Rd, Manteca, CA, 95337, US |
| Region / Metro | Manteca |
| Year of Construction | 1979 |
| Units | 40 |
| Transaction Date | 2018-07-11 |
| Transaction Price | $17,200,000 |
| Buyer | MDESIGNS WESTWOOD II LLC |
| Seller | UNION NORTH ALDERWOOD LLC |
390 N Union Rd, Manteca CA Multifamily Investment
Neighborhood fundamentals indicate steady renter demand and high occupancy stability, according to WDSuite’s CRE market data. Directionally strong rent levels and a deep regional commuter base support income durability, with pricing power balanced by local affordability considerations.
Positioned in an Inner Suburb of the Stockton metro, the property benefits from a neighborhood that ranks 29 out of 179 — above metro median and indicative of balanced livability for workforce renters. Neighborhood occupancy is strong and trending up over the last five years, supporting income stability for multifamily assets in this submarket.
Amenity access skews toward daily-needs convenience rather than dining density. Parks are a standout strength (top percentile in the metro), and grocery access is competitive among Stockton neighborhoods. By contrast, cafes, restaurants, and pharmacies are sparse in the immediate area — an operational consideration for positioning and resident retention programs.
The neighborhood’s median contract rents sit well above national norms, while home values are also elevated relative to incomes locally. For investors, this typically sustains reliance on rental housing and underpins demand depth, but it also calls for careful lease management to monitor rent-to-income levels and renewal risk.
Vintage matters: built in 1979 versus a neighborhood average near the mid-1980s, the asset is somewhat older than surrounding stock. That profile often supports value-add or targeted CapEx plans to enhance competitive positioning, reduce repair risk, and capture rent premiums where renovations are well-executed.
Within a 3-mile radius, demographics show recent population and household growth with a diverse age mix and rising incomes. Forward-looking projections suggest continued household gains and higher median incomes, which translate to a larger tenant base and support for occupancy and rent levels over time.
Safety signals are mixed at the neighborhood level. Overall crime performance sits below the national midpoint, placing the area in the lower tier within the Stockton metro (ranked in the bottom third among 179 neighborhoods). That said, recent year estimated rates for violent offenses align closer to national midrange, while property offense levels also track near the middle nationally.
Investors should note volatility in year-over-year offense estimates, which have shown sharp changes. Interpreted prudently, this points to monitoring trends and aligning security, lighting, and resident engagement strategies with evolving local conditions rather than relying on block-level assumptions.
Proximity to regional employers supports commuter convenience and renter demand, led by consumer products, off-price retail, energy, and medical devices — all relevant drivers for workforce housing in this corridor.
- Clorox — consumer products (4.0 miles)
- Ross Stores — off-price retail (36.5 miles) — HQ
- The Clorox Company — consumer products (37.6 miles)
- Chevron — energy (39.9 miles) — HQ
- Boston Scientific - Building 5 — medical devices (44.6 miles)
This 40-unit, garden-style asset offers durable demand drivers: neighborhood occupancy trends remain above the metro median and rents benchmark well versus national peers, according to CRE market data from WDSuite. Elevated home values in the area tend to reinforce reliance on rental housing, supporting tenant depth and renewal prospects, while income growth in the 3-mile radius expands the renter pool over the medium term.
Built in 1979, the property is somewhat older than nearby stock, which presents a clear value-add path through systems updates and interior modernization. That strategy can strengthen competitive positioning against newer assets and help mitigate maintenance variability, while measured pricing recognizes local rent-to-income dynamics and amenity-light surroundings.
- Above-metro occupancy and solid renter demand support income stability
- Elevated rent benchmarks versus national norms provide revenue potential
- 1979 vintage offers actionable value-add and CapEx optimization opportunities
- Expanding 3-mile household and income base underpins leasing and retention
- Risks: affordability pressure, amenity gaps, and crime-trend volatility warrant active management