| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Good |
| Demographics | 50th | Good |
| Amenities | 42nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3771 W Benjamin Holt Dr, Stockton, CA, 95219, US |
| Region / Metro | Stockton |
| Year of Construction | 1975 |
| Units | 57 |
| Transaction Date | 1998-11-12 |
| Transaction Price | $5,300,000 |
| Buyer | THE CONFERENCE CLAIMANTS ENDOWMENT BOARD |
| Seller | LAGUNA PARK EQUITIES GROUP LP |
3771 W Benjamin Holt Dr Stockton Multifamily Investment
This 57-unit property built in 1975 sits in a neighborhood with strong rental demand, where 53.7% of housing units are renter-occupied and commercial real estate analysis from WDSuite shows occupancy rates maintaining stability above 90%.
The property occupies an Urban Core neighborhood in Stockton's San Joaquin County market, earning a B+ rating among 179 metro neighborhoods. Built in 1975, this vintage aligns with the neighborhood's 1980 average construction year, positioning the asset for potential value-add opportunities through strategic capital improvements and modernization.
Rental demand fundamentals appear solid, with 53.7% of neighborhood housing units occupied by renters—ranking in the top quartile nationally at the 91st percentile. Neighborhood-level occupancy rates hold at 91.6%, supported by a diverse tenant base within the 3-mile radius that includes over 71,800 residents. The area maintains competitive rent levels with a median of $1,404, while household incomes average $84,577, creating manageable rent-to-income ratios for tenant retention.
Demographics within the 3-mile radius show household income growth of 31% over five years, with projections indicating continued expansion through 2028. Population is forecast to grow 10.7% to nearly 80,000 residents, potentially expanding the renter pool. The neighborhood benefits from accessible dining and retail, with restaurant and grocery store density ranking above metro averages, though childcare and park amenities remain limited.
Home values in the area average $451,659, which can help sustain rental demand as elevated ownership costs keep households in the multifamily market. However, investors should monitor the rent-to-income dynamics, as current ratios suggest some affordability pressure that may influence lease renewal strategies and concession management.
Safety metrics for this neighborhood show mixed trends when compared to the broader Stockton metro area. Property crime rates rank in the middle tier among the region's 179 neighborhoods, while violent crime incidents remain below metro averages but have shown some recent uptick. Overall crime performance places the area at the 34th percentile nationally, indicating room for improvement relative to other metropolitan neighborhoods across the country.
For multifamily investors, these safety dynamics suggest standard due diligence around security measures, lighting, and tenant screening protocols. The neighborhood's Urban Core designation typically supports natural surveillance and foot traffic, which can contribute to security, though investors should factor crime trends into operating expense planning and tenant retention strategies.
The Stockton area benefits from proximity to several major corporate employers that support workforce housing demand, including chemical manufacturing, retail distribution, and energy sector operations within commuting distance.
- Clorox — chemical manufacturing (11.7 miles)
- Ross Stores — retail headquarters (35.1 miles) — HQ
- DISH Network Distribution Center — distribution operations (36.3 miles)
- Chevron — energy headquarters (36.6 miles) — HQ
- International Paper — manufacturing (40.0 miles)
This 57-unit asset presents a value-add opportunity in a neighborhood with solid rental fundamentals. The 1975 construction year positions the property for strategic capital improvements that could capture upside in a market where renter-occupied units comprise over half of all housing. According to CRE market data from WDSuite, the neighborhood maintains occupancy rates above 90% while benefiting from household income growth and projected population expansion through 2028.
The Urban Core location provides access to employment centers including major corporate offices within reasonable commuting distance, supporting workforce housing demand. While home values averaging over $450,000 help sustain rental demand by keeping ownership costs elevated, investors should monitor rent-to-income ratios and plan for potential concession management as affordability pressures could impact lease renewal dynamics.
- Strong rental demand with 53.7% of neighborhood units renter-occupied, ranking 91st percentile nationally
- Value-add potential through strategic improvements to 1975-vintage property
- Projected population growth of 10.7% through 2028 expanding renter pool
- Elevated home values support rental demand by maintaining ownership cost barriers
- Risk consideration: Rent-to-income ratios suggest affordability pressure requiring active lease management