| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Fair |
| Demographics | 51st | Good |
| Amenities | 36th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6233 N Pershing Ave, Stockton, CA, 95207, US |
| Region / Metro | Stockton |
| Year of Construction | 1979 |
| Units | 106 |
| Transaction Date | 2016-11-15 |
| Transaction Price | $7,100,000 |
| Buyer | Patmon Company, Inc. |
| Seller | Kucich Limited II, LP |
6233 N Pershing Ave Stockton Multifamily Investment
This 106-unit property built in 1979 benefits from strong neighborhood occupancy rates above 94%, supported by stable rental demand in Stockton's growing multifamily market according to CRE market data from WDSuite.
Located in an inner suburban neighborhood with a B rating among 179 metro neighborhoods, this area demonstrates solid fundamentals for multifamily investors. The neighborhood ranks in the top quartile nationally for occupancy stability at 94.6%, indicating consistent tenant retention and absorption. With 36.5% of housing units occupied by renters, the area maintains a substantial rental base that supports multifamily demand.
Demographic data aggregated within a 3-mile radius shows a growing population of over 155,000 residents, with household income averaging $95,451 and projected to increase 40.8% by 2028. The area attracts diverse age groups, with 26.6% of residents aged 18-34 and 32.9% in the prime earning years of 35-64. Median contract rents of $1,287 represent reasonable affordability for the income base, supporting lease retention and pricing stability.
The property's 1979 construction year aligns with the neighborhood average vintage, indicating potential value-add opportunities through strategic renovations and unit upgrades. Home values averaging $518,000 with strong appreciation trends help sustain rental demand, as elevated ownership costs keep households in the rental market longer. Essential amenities including 1.66 grocery stores per square mile rank in the 80th percentile nationally, supporting tenant satisfaction and retention.
Safety metrics show mixed trends that warrant monitoring. Property crime rates rank 55th among 179 metro neighborhoods, placing the area near the metro median. However, property crime has decreased significantly by 54.3% over the past year, ranking 9th among metro neighborhoods for improvement and placing in the 89th percentile nationally for crime reduction trends.
Violent crime rates remain above metro averages, ranking 90th among metro neighborhoods. Investors should factor ongoing security considerations into property management strategies, including adequate lighting, controlled access systems, and tenant screening protocols to maintain a stable resident base.
The broader Stockton region benefits from proximity to major corporate employers, providing workforce housing opportunities for commuting professionals.
- Clorox — consumer products (11.1 miles)
- DISH Network Distribution Center — telecommunications distribution (36.4 miles)
- Ross Stores — retail headquarters (36.8 miles) — HQ
- The Clorox Company — consumer products headquarters (38.2 miles)
- Chevron — energy headquarters (38.5 miles) — HQ
This 106-unit property presents a value-add opportunity in a neighborhood demonstrating occupancy stability and rental demand fundamentals. Built in 1979, the property offers renovation upside potential to capture higher rents in a market where median contract rents have grown 36% over five years. The 3-mile demographic radius shows household growth and rising incomes, with median household income projected to reach $114,281 by 2028, supporting rent growth potential.
Neighborhood-level occupancy above 94% indicates stable absorption, while the 36.5% rental tenure share provides a substantial tenant base. Home values averaging $518,000 help sustain rental demand by keeping ownership costs elevated relative to renting. However, investors should monitor the mixed safety profile and plan for security enhancements to maintain competitive positioning according to multifamily property research from WDSuite.
- Strong neighborhood occupancy above 94% indicates stable rental demand
- Value-add potential through strategic renovations of 1979 vintage units
- Growing household income base with 40.8% projected increase by 2028
- Risk consideration: Mixed safety metrics require ongoing security investments