| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 36th | Fair |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3939 N Pershing Ave, Stockton, CA, 95207, US |
| Region / Metro | Stockton |
| Year of Construction | 1977 |
| Units | 102 |
| Transaction Date | 2016-06-27 |
| Transaction Price | $6,000,000 |
| Buyer | THE RESIDENCES AT BROOKSIDE LLC |
| Seller | PARELIUS MARK |
3939 N Pershing Ave Stockton Multifamily Opportunity
High renter concentration and steady neighborhood occupancy suggest durable tenant demand, according to WDSuite's CRE market data. Proximity to daily amenities further supports lease retention at the submarket level.
Situated in Stockton's Urban Core, the property benefits from a neighborhood rated A- (ranked 43 among 179 metro neighborhoods), indicating competitive positioning within the metro. Restaurant and grocery density ranks near the top locally (restaurants ranked 7 and groceries ranked 10 of 179) and sit in high national percentiles, supporting daily convenience and leasing appeal for renters.
Amenity access is a clear strength: cafes rank 4 of 179 metro neighborhoods and are in the mid-90s nationally by density, while overall amenities trend above national averages. By contrast, the absence of nearby parks and pharmacies within the neighborhood reduces walkable open-space and health-service options, a consideration for some resident segments.
At the neighborhood level, occupancy is in the low 90s, and renter-occupied share is very high (ranked 2 of 179; top tier nationally). For investors, that depth of renter households points to a sizable tenant base and generally supportive demand for multifamily units, though it also heightens the need for ongoing property operations focus to manage turnover and maintain pricing power.
Within a 3-mile radius, population has expanded in recent years and is projected to grow further by 2028, with households expected to increase meaningfully and average household size trending slightly smaller. This shift typically expands the renter pool and supports occupancy stability. Median incomes have trended higher, which helps support achievable rents, but a rent-to-income ratio on the higher side locally underscores potential affordability pressure and the need for attentive lease management.
Home values in the neighborhood sit in the upper tiers for Stockton and above the national median, and the value-to-income ratio is elevated. In practice, a higher-cost ownership market can reinforce renter reliance on multifamily housing, supporting retention and occupancy. Average school ratings in the neighborhood, however, are lower relative to national peers, which may influence unit mix targeting and marketing toward renter cohorts less focused on school quality.
The asset's 1977 construction is slightly older than the neighborhood's average vintage. For investors, that points to routine capital planning and selective renovations as potential levers for competitiveness and value creation, particularly given the strong local amenity backdrop and deep renter base.
Neighborhood safety indicators are mixed relative to national benchmarks but track closer to the metro middle when compared among 179 Stockton neighborhoods. Nationally, the area scores below average on safety percentiles; however, recent trend data shows improvement, with violent incidents estimated to be down sharply year over year and property incidents also easing, based on CRE market data from WDSuite.
For underwriting, this suggests a need for prudent security measures and resident engagement, while acknowledging the positive direction of change. Investors should evaluate property-level operations and recent trendlines alongside neighborhood context rather than relying on block-level assumptions.
The renter base is supported by access to a diverse mix of regional employers, offering commute options that can aid leasing stability. Notable nearby employment nodes include consumer products, retail headquarters, distribution, and energy offices.
- Clorox — consumer products (9.4 miles)
- Ross Stores — off-price retail (36.4 miles) — HQ
- The Clorox Company — consumer products (37.8 miles)
- DISH Network Distribution Center — distribution & logistics (38.0 miles)
- Chevron — energy offices (38.2 miles) — HQ
3939 N Pershing Ave is a 102-unit, 1977-vintage asset positioned in a competitive Stockton neighborhood where amenity density and a deep base of renter-occupied housing underpin multifamily demand. Neighborhood occupancy in the low 90s and a very high renter-occupied share point to a sizable tenant pool, while a higher-cost ownership landscape supports lease retention and pricing power. Lower school ratings and limited park/pharmacy access suggest targeting renter segments less focused on those factors.
Within a 3-mile radius, population and households are expanding with projections for further growth by 2028, implying renter pool expansion and support for occupancy stability. According to CRE market data from WDSuite, restaurants and groceries rank among the strongest locally, while safety metrics have shown year-over-year improvement. Given its older vintage relative to neighborhood norms, selective renovations and capital planning may unlock value and sustain competitiveness.
- Deep renter base supports leasing and occupancy
- Strong amenity density (restaurants, groceries, cafes) aids retention
- 1977 vintage offers value-add potential through targeted upgrades
- 3-mile household growth outlook points to a larger tenant pool
- Risks: mixed safety relative to national peers, lower school ratings, and affordability pressure requiring careful lease management