| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Fair |
| Demographics | 18th | Poor |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4550 Shelley Ct, Stockton, CA, 95207, US |
| Region / Metro | Stockton |
| Year of Construction | 1979 |
| Units | 86 |
| Transaction Date | 2017-12-07 |
| Transaction Price | $6,500,000 |
| Buyer | PACIFIC VILLAS LP |
| Seller | L B APT RENTALS LLC |
4550 Shelley Ct Stockton Multifamily Investment Thesis
Renter concentration is high at the neighborhood level, supporting a deeper tenant base and steady occupancy, according to WDSuite’s CRE market data. Investors should weigh demand depth against localized affordability pressure when underwritten conservatively.
Located in Stockton’s Urban Core, the neighborhood posts a B+ rating and is competitive among Stockton neighborhoods (ranked 63 out of 179). Restaurant and cafe density is strong for daily convenience, with grocery and pharmacy access above typical levels for the metro. Park access is limited, which may slightly reduce lifestyle appeal for some renters but is often offset by nearby retail and services.
Neighborhood occupancy trends have been resilient, with occupancy around the low‑90s and improving over five years. Note that this is measured for the neighborhood, not the property. A high share of housing units are renter‑occupied, indicating a sizable pool of prospective tenants and potential leasing stability for well‑positioned product.
Within a 3‑mile radius, population and households have grown in recent years, with forecasts pointing to further population growth and a meaningful increase in households by the late 2020s. This supports a larger tenant base and underpins demand for rental units. Median incomes have trended higher, broadening the renter pool, though effective rent setting should consider retention and lease management as rent-to-income ratios in the neighborhood suggest some affordability pressure.
Home values are elevated relative to local incomes, creating a high‑cost ownership market that tends to reinforce reliance on multifamily rentals. For investors, this dynamic can support pricing power and lease-up velocity when combined with thoughtful positioning and unit finishes, as highlighted by commercial real estate analysis from WDSuite.
Safety metrics indicate crime levels are elevated relative to many neighborhoods nationally, and the area ranks on the higher‑crime end within the Stockton metro (80 out of 179 neighborhoods). However, year‑over‑year trends show notable declines in both violent and property offenses, suggesting conditions have been improving more quickly than in many peer areas. As always, investors should evaluate block‑level dynamics during site visits and incorporate appropriate security and operational practices in underwriting.
Proximity to regional employers supports workforce housing demand and commute convenience for residents, notably in manufacturing, distribution, and corporate services. Nearby anchors include Clorox, DISH Network, Ross Stores, The Clorox Company, and Chevron.
- Clorox — consumer products (10.1 miles)
- DISH Network Distribution Center — distribution (37.3 miles)
- Ross Stores — retail HQ & corporate (37.6 miles) — HQ
- The Clorox Company — corporate offices (39.0 miles)
- Chevron — energy corporate (39.4 miles) — HQ
The 86‑unit asset at 4550 Shelley Ct was built in 1979, positioning it slightly newer than the neighborhood’s average vintage. That profile can offer competitive standing versus older stock, while still leaving room for targeted renovations or system updates to drive rent premiums and extend hold‑period durability. Neighborhood occupancy has trended upward and renter concentration is high, supporting depth of demand and potential leasing stability for well‑managed properties.
Within a 3‑mile radius, population and household counts have increased and are projected to rise further, indicating renter pool expansion. Elevated ownership costs in the area tend to sustain reliance on multifamily housing, though neighborhood rent‑to‑income levels call for careful pricing and renewal strategies to support retention. Based on CRE market data from WDSuite, these fundamentals align with a value‑add or light‑renovation thesis focused on unit modernization and operational efficiency.
- High renter concentration supports demand depth and occupancy stability at the neighborhood level.
- 1979 vintage offers competitive positioning versus older stock with value‑add potential through selective upgrades.
- 3‑mile population and household growth point to a larger tenant base over the medium term.
- Elevated ownership costs reinforce renter reliance on multifamily, aiding pricing power when paired with smart leasing.
- Risks: elevated crime relative to national benchmarks and neighborhood affordability pressure require prudent operations and underwriting.