| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Poor |
| Demographics | 44th | Good |
| Amenities | 37th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2852 Elmwood Ave, Stockton, CA, 95204, US |
| Region / Metro | Stockton |
| Year of Construction | 1974 |
| Units | 60 |
| Transaction Date | 2000-08-23 |
| Transaction Price | $1,700,000 |
| Buyer | SALVESTRIN FRANK |
| Seller | OTTERSTETTER HAROLD |
2852 Elmwood Ave Stockton Multifamily Investment
Neighborhood occupancy around 90% indicates steady renter demand for this inner-suburban Stockton location, according to WDSuite’s CRE market data. Stable fundamentals with moderate rent levels suggest a pragmatic, operations-focused hold.
This inner-suburban Stockton neighborhood rates C+ and sits above the metro median for everyday conveniences like groceries and pharmacies, supported by strong national percentiles for those categories. Cafes, parks, and childcare options are thinner, which may modestly affect lifestyle appeal but does not preclude workforce-oriented leasing.
Rents in the neighborhood track in the mid-to-upper national range, and neighborhood occupancy is measured at the neighborhood level, not the property. Home values are elevated relative to national norms, which in practice helps sustain reliance on multifamily housing and supports lease retention for well-managed assets.
Within a 3-mile radius, demographics point to a growing tenant base: recent population and household increases, coupled with rising incomes, support ongoing renter demand. The renter-occupied share within 3 miles is roughly half of housing units, indicating a deep pool of prospective tenants that can underpin occupancy stability.
Compared with metro and national CRE trends, the area looks competitive on essential retail access and everyday services, while amenity depth (parks and cafes) is a relative weakness. On balance, the mix of workforce demographics, access to daily needs, and a renter base of meaningful scale creates an investable backdrop for multifamily operations-focused strategies.
Safety indicators for the neighborhood are around the metro middle (ranked 56 out of 179 Stockton neighborhoods), and below the national median on comparative percentiles. Recent year-over-year trends show declines in both violent and property offense estimates, according to WDSuite’s CRE market data, which is directionally supportive but should be monitored over time.
For investors, this suggests underwriting that assumes average regional safety conditions, with emphasis on standard risk controls such as lighting, access management, and resident engagement to support retention and leasing.
Proximity to regional employers supports workforce housing demand and commute convenience, notably in consumer products, retail headquarters, energy, and distribution. The list below reflects nearby anchors that can reinforce leasing stability.
- Clorox — consumer products (8.7 miles)
- Ross Stores — discount retail HQ (34.8 miles) — HQ
- The Clorox Company — consumer products (36.2 miles)
- Chevron — energy (36.8 miles) — HQ
- DISH Network Distribution Center — logistics/distribution (39.1 miles)
Constructed in 1974, the asset likely benefits from scale at 60 units while offering potential value-add and systems modernization to enhance competitiveness versus newer stock. Neighborhood occupancy is measured at the neighborhood level and sits near the national middle, pointing to steady—but not effortless—lease-up dynamics. According to CRE market data from WDSuite, local homeownership costs are elevated relative to national norms, which tends to sustain renter reliance on multifamily housing and can support retention for well-run properties.
Within a 3-mile radius, population and household counts have grown and are projected to continue increasing through 2028, alongside rising incomes. This combination suggests a larger tenant base over time and supports occupancy stability for pragmatic, operations-focused strategies. Amenity depth is mixed—daily needs score well, while parks and cafes are limited—so effective asset management and targeted upgrades may be important to drive leasing velocity and renewal rates.
- Scale and operations: 60 units enable on-site efficiencies and steady leasing fundamentals near the metro middle.
- Value-add path: 1974 vintage presents opportunities for targeted renovations and system updates to improve competitive positioning.
- Demand drivers: Elevated ownership costs and a sizable renter pool within 3 miles support tenant retention and occupancy durability.
- Location utilities: Strong access to groceries and pharmacies underpins daily living convenience for residents.
- Risks: Thinner park/cafe amenities and average regional safety call for focused asset management to support leasing and renewals.