| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Good |
| Demographics | 36th | Fair |
| Amenities | 13th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 794 Button Ave, Manteca, CA, 95336, US |
| Region / Metro | Manteca |
| Year of Construction | 1984 |
| Units | 51 |
| Transaction Date | 2019-09-03 |
| Transaction Price | $11,160,000 |
| Buyer | RCMI |
| Seller | JCM Partners LLC, (JCMPartners) |
794 Button Ave Manteca Multifamily Investment Opportunity
This 51-unit property built in 1984 sits in a suburban Manteca neighborhood where median household income has grown 60% over five years and neighborhood-level occupancy stands at 95.4%, according to CRE market data from WDSuite.
794 Button Ave is located in a suburban neighborhood in Manteca, San Joaquin County, approximately 70 miles east of San Francisco. The neighborhood carries a C rating among 179 neighborhoods in the Stockton metro, with above-average performance in housing metrics (71st national percentile) and household income (84th national percentile). Median household income within the immediate neighborhood stands at $117,533 and has climbed 60% since 2018, outpacing both regional and national trends. Within a three-mile radius, the population totals approximately 57,600 residents, with households growing 10.6% over the past five years and median income reaching $87,109—a 39% increase over the same period. These demographics point to a growing renter base with improving purchasing power.
Neighborhood-level occupancy sits at 95.4%, ranking in the 73rd national percentile and reflecting strong demand fundamentals despite the area's 18% renter-occupied unit share. The median contract rent in the immediate neighborhood is $1,401, up 42% over five years, and the property's average unit size of 733 square feet aligns well with local rental product. Median home values in the neighborhood have surged 126% to $614,935, placing affordability for ownership out of reach for many households and reinforcing reliance on rental housing. This dynamic supports tenant retention and sustained rental demand across the submarket.
The property was constructed in 1984, slightly older than the neighborhood's average vintage of 1980. This positions the asset for potential value-add strategies, including unit renovations and common-area improvements that could capture upside from the area's rising rent trajectory. Investors should account for near-term capital expenditure needs typical of properties approaching 40 years of age, particularly in mechanical systems and exterior envelope maintenance.
Amenity density in the immediate neighborhood is limited, with minimal retail, dining, and park infrastructure per square mile. Childcare availability ranks in the 76th national percentile, offering a relative strength for family-oriented renters. School ratings average zero out of five, reflecting either incomplete data or underperforming local public schools—a consideration for family tenant segments. The neighborhood's amenity rank of 143rd out of 179 metro neighborhoods (13th national percentile) suggests tenants prioritize affordability and commute access over walkable retail and dining options.
The neighborhood's crime rank is 79th out of 179 Stockton metro neighborhoods, placing it near the middle of the distribution and corresponding to the 42nd national percentile. Violent offense rates are relatively low, with an estimated 4.9 incidents per 100,000 residents ranking in the 80th national percentile nationally—indicating better-than-average performance on this metric. Property offense rates are estimated at 55.1 incidents per 100,000 residents, ranking in the 74th national percentile and reflecting moderate levels of theft and property-related incidents.
Both violent and property offense rates have increased sharply over the past year, with year-over-year changes of 142% and 1,149%, respectively. These figures rank in the bottom quartile nationally for rate of change, suggesting a recent deterioration in safety conditions that warrants monitoring. Investors should evaluate these trends in the context of broader regional policing, economic shifts, and pandemic-era disruptions, and consider their potential impact on tenant retention and insurance costs. Baseline crime levels remain competitive relative to peer neighborhoods, but the velocity of change introduces near-term uncertainty.
The surrounding employment base is anchored by major corporate offices within commuting distance, supporting workforce housing demand in Manteca. Key employers include Clorox facilities and headquarters for Ross Stores and Chevron in the broader Bay Area corridor.
- Clorox — consumer goods manufacturing (5.2 miles)
- Ross Stores — retail headquarters (38.6 miles) — HQ
- The Clorox Company — corporate offices (39.7 miles)
- Chevron — energy sector headquarters (41.9 miles) — HQ
794 Button Ave offers investors exposure to a growing suburban market where household income has risen sharply and neighborhood-level occupancy remains above 95%. The property's 1984 vintage and 51-unit scale present a manageable value-add opportunity, with potential to capture rent growth through targeted unit renovations and operational improvements. Within three miles, the population has grown over 10% in five years, and median household income is forecast to reach $125,579 by 2028—a 44% increase from current levels—expanding the addressable renter base. Elevated home values, now exceeding $614,000 in the immediate neighborhood, limit ownership accessibility and sustain reliance on rental housing, supporting tenant retention and lease renewal rates.
The investment case is grounded in multifamily property research showing strong occupancy fundamentals and income growth, balanced by considerations around amenity density, recent crime trends, and the capital requirements typical of properties nearing 40 years of age. Investors should evaluate the trade-offs between affordability-driven demand and the neighborhood's limited walkable amenities, as well as the implications of rising property offense rates for insurance and tenant perception. The asset's average unit size of 733 square feet aligns with local rental inventory, and its position in a neighborhood with improving demographics offers a foundation for long-term performance.
- Neighborhood-level occupancy at 95.4% ranks in the 73rd national percentile, reflecting strong demand stability
- Median household income in the three-mile radius has grown 39% since 2018, with further growth forecast to 2028
- Home values exceeding $614,000 reinforce rental demand by limiting ownership accessibility for middle-income households
- 1984 construction year offers value-add potential through unit upgrades and common-area improvements
- Risk considerations include recent increases in property offense rates, limited neighborhood amenity density, and near-term capital expenditure needs typical of older assets