| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 40th | Fair |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5343 Carrington Cir, Stockton, CA, 95210, US |
| Region / Metro | Stockton |
| Year of Construction | 1988 |
| Units | 48 |
| Transaction Date | 2015-12-04 |
| Transaction Price | $1,743,818 |
| Buyer | CARRINGTON CIRCLE APARTMENTS LP |
| Seller | DIAMOND COVE ASSOCIATES |
5343 Carrington Cir Stockton Multifamily Value-Add Position
Neighborhood occupancy has been resilient and renter demand is deep, according to WDSuite’s CRE market data, suggesting stable leasing fundamentals for a 48-unit asset. With 1988 vintage, the property may benefit from targeted upgrades to enhance competitiveness.
This inner-suburban Stockton location ranks 17 of 179 locally, making it competitive among Stockton neighborhoods for overall livability and housing fundamentals. Amenity access is a clear strength: neighborhood counts for grocery and restaurants sit in the 90th+ percentiles nationally, and pharmacies are near the top of U.S. availability. Public parks are limited, so on-site open space or nearby private recreation options can be meaningful differentiators for tenant retention.
Neighborhood occupancy is above national averages and has trended higher over the last five years, supporting income stability for multifamily. The area’s renter-occupied share is high relative to the U.S., indicating a broad tenant base for workforce-oriented units. Median contract rents benchmark above the national median but remain below marquee coastal metros, which can help sustain demand at attainable price points.
Schools average around 3 out of 5 and are slightly above the national midpoint, which can support family renter interest. Home values are elevated for the region and, combined with a high value-to-income ratio, point to a high-cost ownership market that tends to reinforce reliance on multifamily rentals and support pricing power where unit quality and management execution are strong.
Within a 3-mile radius, demographics show recent population and household growth with a forecast for continued increases and a gradual shift toward smaller household sizes. This expansion, together with a sizeable renter pool, suggests ongoing depth of tenant demand and supports occupancy stability for professionally managed assets.
Safety indicators in the immediate neighborhood are mixed. Compared with neighborhoods nationwide, property and violent offense rates benchmark below the national median; however, both measures have improved year over year. This recent downward trend aligns with broader stabilization patterns in parts of the Stockton metro, offering a constructive but cautious backdrop for underwriting.
Relative to the metro (179 neighborhoods total), the area does not rank among Stockton’s lowest-crime pockets, so prudent security measures and resident engagement can help support retention. Monitoring trend continuity and coordinating with local resources remains a sensible asset-management practice.
Proximity to regional employers supports a commuter tenant base and leasing stability, with access to consumer products, retail headquarters, telecom logistics, and energy corporate roles that help sustain workforce housing demand.
- Clorox — consumer products offices (10.8 miles)
- DISH Network Distribution Center — telecom logistics (36.6 miles)
- Ross Stores — off-price retail corporate (38.3 miles) — HQ
- The Clorox Company — consumer products offices (39.7 miles)
- Chevron — energy corporate (40.1 miles) — HQ
5343 Carrington Cir offers a 48-unit footprint with smaller-format apartments and stable neighborhood occupancy, positioning the asset for steady cash flow under disciplined operations. Based on CRE market data from WDSuite, the surrounding neighborhood shows above-median occupancy and a high concentration of renter-occupied housing units, indicating durable demand depth. 1988 construction is slightly older than the local average, creating potential value-add upside through targeted interior updates and system refreshes to enhance rent positioning.
Amenity access is strong (groceries, restaurants, pharmacies), while a high-cost ownership landscape supports renter reliance on multifamily housing, which can aid lease retention and pricing power when quality is maintained. Forward demographic trends within 3 miles point to continued growth in households and a gradually expanding tenant base, supporting long-term fundamentals alongside professional management and thoughtful capital planning.
- Stable neighborhood occupancy and deep renter pool support leasing resilience.
- 1988 vintage provides clear value-add pathways via selective renovations and system upgrades.
- Strong amenity access (groceries, restaurants, pharmacies) underpins renter convenience and retention.
- High-cost ownership market reinforces multifamily demand and pricing power for well-positioned units.
- Risks: limited park access and mixed safety metrics; plan for security, community programming, and capex timing.