| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 40th | Fair |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5358 Carrington Cir, Stockton, CA, 95210, US |
| Region / Metro | Stockton |
| Year of Construction | 1988 |
| Units | 30 |
| Transaction Date | 2015-12-04 |
| Transaction Price | $1,743,818 |
| Buyer | CARRINGTON CIRCLE APARTMENTS LP |
| Seller | DIAMOND COVE ASSOCIATES |
5358 Carrington Cir Stockton Multifamily Investment
Neighborhood occupancy is in the top quartile nationally and renter-occupied housing is prevalent, supporting stable tenant demand according to WDSuite’s CRE market data. These are neighborhood-level indicators around Stockton, not the property’s own performance.
Positioned in an inner-suburban pocket of Stockton, the area around 5358 Carrington Cir shows investor-friendly fundamentals: neighborhood occupancy of 95.7% with positive five‑year momentum, and a renter-occupied share near the mid‑50% range. For multifamily owners, this depth of renter concentration points to a broader tenant base and supports lease retention across cycles.
Everyday convenience is a relative strength. Amenity density ranks competitive among 179 Stockton neighborhoods, with grocery, restaurants, and pharmacies scoring in the 90th percentile range nationally, and cafes also testing well above average. School options average roughly 3.0 out of 5 and sit above the national median, which can aid family-oriented leasing.
Home values are elevated for the region (nationally high value‑to‑income ratios), which tends to sustain reliance on rental housing and can reinforce pricing power for well‑managed assets. Median contract rents are moderate for the metro and, with a neighborhood rent‑to‑income ratio around the mid‑20% range, owners can prioritize proactive lease management to limit affordability pressure while protecting occupancy.
The property’s 1988 vintage is slightly older than the neighborhood’s average construction year (early 1990s). That positioning may support a targeted value‑add plan—focused on unit interiors, common areas, and system updates—to maintain competitiveness against newer stock without overcapitalizing.
Within a 3‑mile radius, the population has grown in recent years and households are projected to continue expanding, indicating a larger tenant base over the medium term. Even as household sizes trend modestly smaller, this dynamic typically supports steady absorption of well-located, mid‑scale units.
Safety indicators in this neighborhood are below the national median, and the area ranks in the lower half among 179 Stockton neighborhoods. However, year‑over‑year trends show improvement, with both violent and property offense estimates declining. Investors should underwrite with conservative assumptions—focusing on property-level security, lighting, and resident engagement—while noting the recent directional progress.
Nearby employers provide a diversified employment base that supports workforce housing demand and commute convenience, including Clorox, DISH Network, Ross Stores, Chevron, and International Paper.
- Clorox — consumer products (10.8 miles)
- DISH Network Distribution Center — logistics & distribution (36.6 miles)
- Ross Stores — retail corporate (38.4 miles) — HQ
- Chevron — energy corporate (40.1 miles) — HQ
- International Paper — packaging & paper (41.0 miles)
This 30‑unit asset offers exposure to a neighborhood with top‑quartile national occupancy and a high share of renter‑occupied housing, supporting leasing stability and tenant depth. Based on CRE market data from WDSuite, amenity access is strong relative to the metro and above national norms for grocery, restaurants, and pharmacies—factors that typically aid retention and day‑to‑day livability. Elevated ownership costs locally further encourage reliance on rental housing, which can help sustain demand for well‑managed mid‑scale units.
Built in 1988, the property sits slightly older than the neighborhood’s early‑1990s average, suggesting practical value‑add potential through interior updates and systems modernization. Within a 3‑mile radius, population and households have expanded and are projected to grow further, pointing to a larger tenant base over time. Investors should balance these positives with thoughtful underwriting around safety and operating costs, aligning capital plans to maintain competitive positioning.
- Neighborhood occupancy in the top quartile nationally supports leasing stability
- High renter-occupied share indicates a deep tenant pool
- 1988 vintage provides actionable value‑add and modernization angles
- Strong amenity access (grocery, restaurants, pharmacies) aids retention
- Risk: safety metrics below national median—plan for security and operating discipline