| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Good |
| Demographics | 6th | Poor |
| Amenities | 46th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3243 Farmington Rd, Stockton, CA, 95205, US |
| Region / Metro | Stockton |
| Year of Construction | 1990 |
| Units | 64 |
| Transaction Date | 2023-11-16 |
| Transaction Price | $6,400,000 |
| Buyer | HBO PROPERTIES |
| Seller | HALO MANAGERS CORP |
3243 Farmington Rd Stockton Multifamily Investment
This 64-unit property built in 1990 benefits from neighborhood-level occupancy rates of 98.6%, ranking in the top quartile among 179 Stockton metro neighborhoods according to CRE market data from WDSuite.
The property sits in an inner suburb neighborhood with strong occupancy fundamentals, where 98.6% occupancy ranks in the 92nd national percentile among comparable markets. The area maintains a balanced housing tenure mix with 48.5% of units occupied by renters, providing a substantial tenant base for multifamily operators.
Built in 1990, this property aligns with the neighborhood's average construction year of 1968, positioning it as newer vintage that may require less immediate capital expenditure compared to older area stock. Median contract rents of $985 reflect affordable pricing that supports tenant retention, while home values averaging $336,909 reinforce rental demand by keeping ownership costs elevated relative to local incomes.
Demographics within a 3-mile radius show a population of approximately 60,000 with household growth trends supporting rental demand. The area projects 9.4% population growth through 2028, with median household incomes forecast to increase 63.6% to $88,316, indicating improving tenant quality and potential for measured rent growth over the investment horizon.
Amenity access varies across categories, with strong grocery store density ranking in the 93rd national percentile and restaurant availability in the 87th percentile, supporting tenant appeal. However, limited park and childcare amenities may affect family-oriented tenant retention strategies.
Property crime rates in the neighborhood have shown significant improvement, with a 65.5% decrease over the past year ranking in the 94th national percentile for crime reduction among comparable markets. Current property crime rates of 450 per 100,000 residents place the area above metro median for safety performance.
Violent crime rates have also declined 43.6% year-over-year, indicating improving neighborhood conditions that support tenant retention and leasing velocity. These downward crime trends position the area competitively among Stockton's 179 neighborhoods for resident safety considerations.
The Stockton market benefits from proximity to major corporate employers that provide workforce housing demand, including nearby headquarters and regional operations within commuting distance.
- Clorox — consumer goods manufacturing (6.7 miles)
- Ross Stores — retail headquarters (39.1 miles) — HQ
- The Clorox Company — corporate offices (40.4 miles)
- Chevron — energy headquarters (41.4 miles) — HQ
- DISH Network Distribution Center — telecommunications distribution (41.5 miles)
This 64-unit property built in 1990 offers stable cash flow potential anchored by exceptional neighborhood-level occupancy of 98.6%, ranking in the top quartile nationally. The inner suburb location benefits from improving safety metrics, with both property and violent crime rates declining significantly over the past year, supporting tenant retention and competitive leasing conditions.
Demographic trends within the 3-mile radius support long-term rental demand, with projected 9.4% population growth through 2028 and median household income increases of 63.6% indicating improving tenant quality. According to multifamily property research from WDSuite, the area's balanced renter-owner housing mix and affordable median rents of $985 position the property to capture steady demand while maintaining competitive pricing power.
- Neighborhood occupancy of 98.6% ranks in 92nd national percentile
- Strong demographic growth with 9.4% population increase projected through 2028
- Improving safety trends with 65.5% property crime reduction year-over-year
- 1990 construction year reduces near-term capital expenditure needs
- Risk consideration: Limited amenity density may affect family tenant retention