| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Poor |
| Demographics | 44th | Good |
| Amenities | 37th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2122 Fontana Ave, Stockton, CA, 95204, US |
| Region / Metro | Stockton |
| Year of Construction | 1985 |
| Units | 26 |
| Transaction Date | 2023-10-09 |
| Transaction Price | $2,340,000 |
| Buyer | COBRA NO 28 NO 8 LP |
| Seller | GOLDEN OPPORTUNITY NO 28 LP |
2122 Fontana Ave Stockton Multifamily Opportunity
Positioned in an inner-suburban pocket of Stockton, this 26-unit, 1985-vintage asset benefits from a renter base supported by a high-cost ownership market and neighborhood occupancy around mid-range, according to WDSuite’s CRE market data.
The property sits in an Inner Suburb location where daily needs are serviceable and grocery/pharmacy access is a relative strength. Grocery store density is competitive among Stockton, CA neighborhoods (ranked 48 of 179) and pharmacies are similarly strong locally, while dining is moderate and cafes and parks are limited in the immediate area. For investors, this mix suggests stable day-to-day convenience but fewer lifestyle amenities within walking distance, which may influence tenant profiles and leasing narratives.
Neighborhood rents sit in the middle of the local distribution with sustained five‑year growth, and occupancy for the neighborhood is around 90% with modest softening over the past five years. Home values are elevated for the metro and, combined with a value‑to‑income ratio in a higher national percentile, indicate a high‑cost ownership market that can reinforce reliance on multifamily rentals and support pricing power and lease retention.
Within a 3‑mile radius, demographics point to a growing tenant base: population and households expanded over the last five years, with forecasts indicating further population growth and a notable increase in households alongside slightly smaller average household sizes. This pattern typically broadens the renter pool and can support occupancy stability and absorption for well‑positioned assets.
The property was built in 1985, newer than the neighborhood’s average construction year of 1973. That vintage positioning can help competitiveness versus older stock, though investors should plan for typical mid‑life system updates and consider targeted renovations to capture value‑add upside. School ratings in the area trend below national norms even as the neighborhood’s local rank is competitive within Stockton; investors may tailor marketing toward workforce renters prioritizing commute and value over top school districts.
Safety indicators for the neighborhood track below national averages, placing it in a comparatively less safe tier nationally. Even so, recent trends are moving in a constructive direction: violent incidents declined by roughly 26% year over year and property incidents by about 17%, based on WDSuite’s CRE market data. Within the Stockton metro (179 neighborhoods), the area sits in the lower half for safety, so underwriting should account for tenant screening, security measures, and leasing strategies that reflect local expectations.
Nearby employment anchors provide diverse job bases within commutable distance, supporting renter demand and retention for workforce housing. Notable employers include Clorox, Ross Stores, The Clorox Company, Chevron, and a DISH Network distribution facility.
- Clorox — corporate offices (8.4 miles)
- Ross Stores — corporate offices (34.9 miles) — HQ
- The Clorox Company — corporate offices (36.3 miles)
- Chevron — corporate offices (36.9 miles) — HQ
- DISH Network Distribution Center — distribution (39.3 miles)
This 26‑unit asset at 2122 Fontana Ave offers stable, workforce‑oriented demand drivers and relative competitiveness versus older neighborhood stock. Elevated home values and a higher value‑to‑income context bolster renter reliance on multifamily, while neighborhood rents and occupancy sit near mid‑range. Within a 3‑mile radius, recent population and household growth — with forecasts calling for further expansion and slightly smaller households — points to a larger tenant base that can support occupancy stability and absorption. According to CRE market data from WDSuite, year‑over‑year declines in both violent and property incidents also indicate improving operating conditions to monitor.
Built in 1985, the property is newer than the area’s 1973 average, suggesting competitive positioning versus older comparables; investors should still plan for mid‑life system upgrades and targeted renovations for value‑add. Local amenity access favors groceries and pharmacies over parks and cafes, so leasing should emphasize commute convenience and daily needs over lifestyle offerings. School ratings trend below national averages, and neighborhood safety is below national norms, which should be reflected in underwriting and asset management strategies.
- Newer‑than‑area vintage (1985) offers competitive positioning with value‑add potential through modernization
- High‑cost ownership context supports multifamily demand and pricing power
- 3‑mile radius shows population and household growth, expanding the renter pool and supporting occupancy
- Neighborhood occupancy and rent levels near mid‑range with sustained 5‑year rent growth
- Risks: below‑national safety and school ratings; limited parks/cafes; recent occupancy softening warrants prudent underwriting