| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 40th | Fair |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5323 Carrington Cir, Stockton, CA, 95210, US |
| Region / Metro | Stockton |
| Year of Construction | 1989 |
| Units | 38 |
| Transaction Date | 2006-03-06 |
| Transaction Price | $2,950,000 |
| Buyer | Carrington Square Apartments, LLC |
| Seller | Corona Del Carmel, LLC |
5323 Carrington Cir Stockton Multifamily Investment
This 38-unit property benefits from neighborhood-level occupancy at 95.7% and strong rental tenure at 55.3%, positioning it well in Stockton's inner suburb market according to WDSuite's CRE market data.
This inner suburb neighborhood ranks 17th among 179 Stockton metro neighborhoods with an A rating, placing it in the top 10% locally. The area maintains strong fundamentals with 95.7% occupancy and 55.3% of housing units renter-occupied, well above the national median at the 91st percentile for rental tenure share. Demographics within a 3-mile radius show 141,480 residents with household growth of 5.1% over five years, supporting sustained rental demand.
Built in 1989, the property aligns with the neighborhood's 1992 average construction year, indicating consistent building stock that may present value-add renovation opportunities for investors focused on modernization. The area benefits from strong amenity access, ranking in the top quartile nationally for grocery stores and restaurants per square mile, with pharmacy density at the 99th percentile nationwide.
Median contract rents of $1,331 have grown 47.9% over five years, though rent-to-income ratios at 0.24 suggest affordability pressures that require careful lease management. Home values at $371,772 with 63.9% five-year appreciation reinforce rental demand as elevated ownership costs keep households in the multifamily market. Projected demographics through 2028 indicate continued population growth of 2.7% with median household income rising to $99,758, expanding the potential tenant base.
Safety metrics show mixed trends requiring investor attention. Property crime rates rank 123rd among 179 metro neighborhoods at 2,226 incidents per 100,000 residents, placing the area in the 9th percentile nationally. However, property crime has declined 37.4% year-over-year, ranking 23rd metro-wide for improvement and reaching the 79th percentile nationally for crime reduction trends.
Violent crime rates of 320 per 100,000 residents rank 120th metro-wide, in the 14th percentile nationally, though violent incidents have also decreased 18.8% annually. While current crime levels present leasing and retention considerations, the improving trend suggests positive momentum that investors should monitor alongside local policing initiatives and community development efforts.
The employment base includes major corporate offices within commuting distance, supporting workforce housing demand for the area's renter population.
- Clorox — consumer products (10.8 miles)
- DISH Network Distribution Center — telecommunications distribution (36.6 miles)
- Ross Stores — retail headquarters (38.4 miles) — HQ
- The Clorox Company — consumer products (39.8 miles)
- Chevron — energy headquarters (40.1 miles) — HQ
This 1989-vintage property operates in a neighborhood with above-average occupancy fundamentals and strong rental tenure dynamics. The 95.7% neighborhood occupancy rate exceeds metro averages, while 55.3% rental tenure share ranks in the top 10% nationally, indicating stable demand for multifamily housing. Population growth of 6.3% within the 3-mile radius and projected household income increases to $99,758 by 2028 support long-term tenant base expansion.
The property's 35-year vintage presents value-add renovation opportunities in a neighborhood where construction averages 1992, allowing for strategic capital improvements to capture rent premiums. According to multifamily property research from WDSuite, median rents have grown 47.9% over five years while home values at $371,772 maintain rental demand through elevated ownership costs. However, rent-to-income pressures and current crime levels require active management attention.
- Neighborhood occupancy at 95.7% with 55.3% rental tenure share ranking top 10% nationally
- Population growth of 6.3% and projected income increases supporting tenant base expansion
- Value-add renovation potential with 1989 construction year and strong rent growth trends
- High ownership costs at $371,772 median home values reinforcing rental demand
- Crime rates declining 37.4% annually though current levels require management attention