| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 19th | Poor |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 227 W Grant Line Rd, Tracy, CA, 95376, US |
| Region / Metro | Tracy |
| Year of Construction | 1999 |
| Units | 72 |
| Transaction Date | 2020-01-13 |
| Transaction Price | $6,731,000 |
| Buyer | STONE PINE MEADOW TWO LP |
| Seller | SPM HOUSING ASSOCIATES |
227 W Grant Line Rd, Tracy CA Multifamily Investment
Neighborhood occupancy trends point to steady leasing and renter demand, according to WDSuite’s CRE market data, positioning this 72-unit 1999-vintage asset for durable performance in Tracy’s Stockton, CA metro context.
The property sits in an Urban Core neighborhood of the Stockton, CA metro rated A-, with the sub-area performing competitive among Stockton neighborhoods (rank 35 of 179). Daily-needs access is a strength: grocery and pharmacy density rank near the top of the metro (both at rank 11 of 179), and restaurants and cafes are also strong (ranks 27 of 179). Limited park acreage (rank 179 of 179) suggests residents rely more on private or nearby city amenities for recreation.
Multifamily fundamentals are supportive. Neighborhood occupancy is strong (national percentile 78), indicating stable leasing conditions. The renter concentration in this neighborhood is elevated, with a majority of housing units renter-occupied, which generally deepens the tenant base for multifamily and supports absorption and renewal velocity.
Within a 3-mile radius, population and households have grown in recent years and are projected to continue increasing by 2028, expanding the local renter pool and supporting occupancy stability. Median household incomes in the 3-mile radius are high for the region, while rents have also advanced; this combination suggests healthy demand with some affordability pressure that owners can manage through thoughtful lease management and unit mix strategy. For multifamily property research, elevated home values in the immediate neighborhood (national percentile 84) imply a high-cost ownership market that can sustain renter reliance on multifamily housing.
The asset’s 1999 construction is newer than the neighborhood’s older average housing stock (1961), giving it relative competitiveness versus legacy product. Investors should still underwrite selective modernization over the hold to maintain positioning and capture premiums against older comparables. School ratings in the neighborhood trail national norms (low national percentile), which can influence family renter preferences; however, strong amenity access and commuter connectivity within Tracy help balance overall livability for a broad renter cohort.
Comparable neighborhood-level crime metrics are not available in the current WDSuite release for this area. Investors typically contextualize safety by reviewing city and county trend data alongside property-level security measures and resident feedback, and by benchmarking against nearby Stockton, CA neighborhoods where data is published.
Proximity to regional employers supports renter demand and retention, particularly for commuters across consumer goods, retail headquarters, energy, and life sciences. Notable employment nodes within commuting range include Clorox, Ross Stores, Chevron, Boston Scientific, and Thermo Fisher Scientific.
- Clorox — consumer goods offices (10.5 miles)
- Ross Stores — retail headquarters (25.5 miles) — HQ
- Chevron — energy corporate (29.1 miles) — HQ
- Boston Scientific - Building 5 — medical devices (33.8 miles)
- Thermo Fisher Scientific — life sciences (33.8 miles)
This 72-unit, 1999-vintage community benefits from a renter-heavy neighborhood, strong amenity access, and steady neighborhood occupancy that has performed competitively within the Stockton, CA metro. Elevated home values relative to incomes in the immediate neighborhood reinforce sustained renter reliance on multifamily housing, supporting leasing stability. According to CRE market data from WDSuite, the local occupancy profile and amenity density compare favorably to many metro peers, while the asset’s newer vintage versus the area’s older housing stock provides a competitive edge with manageable modernization needs.
Investor considerations include school ratings that trail national norms, limited nearby park space, and affordability pressure as rents and incomes rise together. These factors argue for focused retention and renewal strategies, careful rent setting, and value-add planning that prioritizes in-unit updates and convenience amenities to capture demand from commuting professionals and families.
- Renter-heavy neighborhood and strong amenity access support stable absorption and renewals
- 1999 vintage offers competitive positioning versus older local stock with targeted upgrade upside
- High-cost ownership context reinforces depth of tenant base and pricing power discipline
- Competitive neighborhood occupancy profile within Stockton, CA metro, per WDSuite data
- Risks: lower school ratings, limited park space, and affordability pressure require proactive lease management