| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Poor |
| Demographics | 34th | Fair |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 347 E Flora St, Stockton, CA, 95202, US |
| Region / Metro | Stockton |
| Year of Construction | 1979 |
| Units | 52 |
| Transaction Date | 2019-11-20 |
| Transaction Price | $5,600,000 |
| Buyer | CASA MILANO APARTMENTS LLC |
| Seller | CALIFORNIA AFFORDABLE HOUSING GROUP LP |
347 E Flora St, Stockton Multifamily Investment
Renter demand is supported by a high share of renter-occupied units in the surrounding neighborhood, and occupancy has trended up over the past five years according to WDSuite's CRE market data. Positioning near Downtown Stockton offers workforce housing appeal with room for value-add execution.
Located in an Inner Suburb of Stockton with an A- neighborhood rating, the area ranks 45 out of 179 within the metro—competitive among Stockton neighborhoods. Amenity access is a relative strength: restaurants, groceries, pharmacies, childcare, and cafes appear at densities that outpace national norms, though formal park acreage is limited nearby.
Vintage and asset positioning: Built in 1979, the property is newer than much of the local housing stock (which skews early-20th century). Investors should plan for targeted modernization of systems and finishes to sharpen competitiveness while leveraging relative age advantages versus older comparables.
Tenure and renter base: The neighborhood shows a high concentration of renter-occupied housing units, indicating depth in the tenant pool and potential for steadier leasing. Neighborhood occupancy has improved in recent years, supporting expectations of more consistent stabilization, albeit with typical management focus on renewals.
Demographics (3-mile radius): Population and households have grown over the last five years, with forecasts indicating continued population growth and additional households by 2028. This expansion points to a larger tenant base and supports leasing velocity for smaller-unit product like this asset.
Affordability and homeownership context: Elevated home values relative to incomes in this neighborhood reinforce reliance on rental housing. At the same time, higher rent-to-income levels signal affordability pressure that may require attentive lease management to sustain retention and limit turnover.
Safety indicators are measured at the neighborhood level and can vary block to block. Relative to U.S. neighborhoods, this area sits below average on safety, and within the Stockton metro it ranks in the lower half (113 out of 179), indicating higher crime exposure than many peer neighborhoods.
Recent trend data offers incremental improvement: estimated violent and property offense rates declined year over year, which is directionally positive even though absolute levels remain elevated compared with national benchmarks. Investors often underwrite for enhanced on-site security, lighting, and community engagement to support resident experience and retention.
Nearby employment nodes include corporate offices and logistics that support workforce housing demand and commuter convenience: Clorox, Ross Stores, The Clorox Company, Chevron, and DISH Network Distribution Center.
- Clorox — corporate offices (7.8 miles)
- Ross Stores — retail headquarters (37.2 miles) — HQ
- The Clorox Company — corporate offices (38.5 miles)
- Chevron — energy headquarters (39.3 miles) — HQ
- DISH Network Distribution Center — distribution & logistics (39.6 miles)
This 52-unit asset (average unit size ~464 sq. ft.) aligns with renter-heavy neighborhood dynamics and amenity access that supports day-to-day livability. Based on CRE market data from WDSuite, neighborhood occupancy has improved over the last five years, and a high share of renter-occupied units suggests depth of demand for small-format workforce housing. Constructed in 1979, the property offers achievable value-add via targeted interior upgrades and efficiency improvements to enhance rent positioning versus older nearby stock.
Within a 3-mile radius, population and household growth—with further gains forecast by 2028—indicate a larger tenant base ahead. Elevated ownership costs versus incomes in the neighborhood should continue to sustain rental demand; however, rent-to-income levels imply affordability pressure, so underwriting should prioritize resident retention and expense control alongside measured rent growth.
- Renter-heavy neighborhood supports demand depth and leasing stability.
- 1979 vintage presents practical value-add and systems modernization opportunities.
- Amenity-rich location near Downtown Stockton supports everyday convenience and retention.
- Growing 3-mile population and households expand the prospective renter pool.
- Risks: below-average neighborhood safety, limited park access, and affordability pressure require active management.