| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Best |
| Demographics | 59th | Best |
| Amenities | 42nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6408 Morgan Pl, Stockton, CA, 95219, US |
| Region / Metro | Stockton |
| Year of Construction | 1972 |
| Units | 64 |
| Transaction Date | 2008-11-04 |
| Transaction Price | $762,779 |
| Buyer | FREMONT BANK |
| Seller | BARAJAS FARIAS SAMUEL |
6408 Morgan Pl Stockton Multifamily Opportunity
Neighborhood occupancy is ranked first among 179 Stockton neighborhoods, indicating strong leasing stability for nearby assets, according to WDSuite’s CRE market data. Elevated home values in the area further support sustained renter demand.
This inner-suburban pocket of Stockton carries an A neighborhood rating and sits in the top quartile among 179 metro neighborhoods, signaling balanced fundamentals for multifamily investors. Occupancy at the neighborhood level is exceptionally tight and has trended up over the last five years, a backdrop that typically supports rent consistency and reduces downtime between turns.
Livability is defined more by residential character than dense retail. Parks and childcare access rank in high national percentiles, while day-to-day retail like groceries and pharmacies is more dispersed; residents likely draw on nearby commercial nodes rather than immediate blocks. For investors, this pattern suggests car-oriented convenience and a resident profile that values neighborhood quiet over walkable retail.
Within a 3-mile radius, population has grown in recent years with additional gains projected, and household incomes have risen meaningfully. This broadens the tenant base and supports rent collections. The neighborhood’s renter-occupied share of housing units is roughly one-third, with a larger ownership presence locally; combined with elevated home values (well above national median levels), this dynamic can sustain multifamily demand by keeping a portion of households in the rental market and supporting retention.
Vintage context matters: the property was built in 1972, older than the neighborhood’s average 1980 construction year. That age profile often creates value-add opportunities through unit and systems modernization, while warranting prudent capital planning to remain competitive against newer stock.
Safety indicators for this neighborhood track near the national median, with overall crime positioning around the metro middle when compared with 179 Stockton neighborhoods. Recent data shows year-over-year declines in both property and violent offenses, an encouraging directional trend to monitor for long-term investors.
Investors should underwrite with standard operating assumptions for an inner-suburban location: emphasize lighting, access control, and visibility features that support resident comfort and help sustain leasing performance as conditions evolve.
Proximity to regional employers supports a diversified renter base and commute convenience, led by Clorox, Ross Stores, DISH Network’s distribution operations, Chevron, and International Paper.
- Clorox — consumer products (11.35 miles)
- Ross Stores — off-price retail (35.7 miles) — HQ
- DISH Network Distribution Center — telecom distribution (36.4 miles)
- Chevron — energy (37.3 miles) — HQ
- International Paper — packaging & paper (40.3 miles)
6408 Morgan Pl offers scale at 64 units with durable neighborhood fundamentals. The area is A-rated and in the top quartile among 179 Stockton neighborhoods, and neighborhood occupancy ranks at the top of the metro, supporting steady leasing and limited downtime. Elevated home values relative to incomes reinforce reliance on rental housing, while rent-to-income levels suggest room for disciplined revenue management. Based on commercial real estate analysis from WDSuite, these factors point to balanced demand with potential for stable performance through cycles.
Built in 1972, the asset skews older than the local average vintage, creating a straightforward value-add path through renovations and system upgrades. Within a 3-mile radius, population and household growth, coupled with rising incomes and projected rent gains, indicate a larger tenant base over the medium term—supporting occupancy stability and pricing power for well-managed properties.
- Top-quartile A-rated neighborhood with metro-leading occupancy supports leasing stability
- Elevated ownership costs locally reinforce multifamily renter demand and retention
- 1972 vintage provides value-add and modernization upside with targeted CapEx
- 3-mile population and income growth expand the tenant base, aiding long-run NOI
- Risks: older systems and car-oriented amenities require CapEx discipline and operational focus