| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Poor |
| Demographics | 21st | Poor |
| Amenities | 44th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1757 Richland Ave, Ceres, CA, 95307, US |
| Region / Metro | Ceres |
| Year of Construction | 1994 |
| Units | 32 |
| Transaction Date | 2019-09-11 |
| Transaction Price | $5,360,000 |
| Buyer | THRIVE LIVING TRUST |
| Seller | RODRIGUES VALENTINE |
1757 Richland Ave Ceres Multifamily Investment
This 32-unit property built in 1994 targets an inner suburb neighborhood with high rental occupancy share and strong grocery store access. According to CRE market data from WDSuite, the area maintains a 94.9% occupancy rate with significant renter concentration at 56.5% of housing units.
Located in Ceres' inner suburb environment, this neighborhood demonstrates strong rental market fundamentals with 56.5% of housing units occupied by renters, ranking in the top quartile nationally among the 130 metro neighborhoods. The area maintains a 94.9% occupancy rate, indicating stable tenant retention and consistent rental demand dynamics.
Built in 1994, this property aligns with the neighborhood's average construction year of 1967, positioning it as newer vintage stock that may require less immediate capital expenditure compared to older area properties. The location benefits from exceptional grocery store density at 4.38 stores per square mile, ranking 16th among metro neighborhoods and in the 94th percentile nationally, supporting tenant convenience and retention.
Demographic data aggregated within a 3-mile radius shows a stable population base of approximately 81,000 residents with modest growth trends. Current median household income stands at $64,349, while five-year projections indicate potential income growth to $100,874, representing a 57% increase that could support rent growth and tenant retention over the investment horizon.
Contract rents in the immediate neighborhood average $1,156 for one-bedroom units, with recent five-year rent growth of 57%. The rent-to-income ratio of 0.21 suggests manageable affordability for area tenants, though investors should monitor renewal rates as projected income growth materializes to maintain competitive positioning.
Crime metrics show mixed signals requiring careful evaluation. Property offense rates rank 8th among the 130 metro neighborhoods with an estimated rate of 16.7 incidents per area, placing the neighborhood in the 85th percentile nationally for property crime frequency. However, recent trends show a 32% decrease in property offenses year-over-year, ranking 7th for improvement and in the 75th percentile nationally for crime reduction.
Violent crime presents a different pattern, with rates ranking 15th among metro neighborhoods and in the 61st percentile nationally. The area experienced a significant 742% increase in violent offenses year-over-year, though this ranks 102nd for increase magnitude, suggesting the baseline was relatively low. Investors should factor security considerations into property management and tenant screening protocols.
The local employment base includes corporate office presence within commuting distance, supporting workforce housing demand for area renters.
- Clorox — corporate offices (24.0 miles)
This 32-unit property offers exposure to a rental-concentrated market with strong occupancy fundamentals and improving safety trends. The neighborhood's 56.5% renter occupancy share ranks in the top quartile nationally, while the 94.9% area occupancy rate indicates stable tenant demand. Built in 1994, the property represents newer vintage stock relative to the neighborhood average, potentially reducing near-term capital expenditure needs.
Demographic projections within the 3-mile radius show household income growth potential from $64,349 to $100,874 over five years, supporting rent growth prospects. However, recent violent crime increases and limited nearby employment diversity present operational and tenant retention considerations that require active management attention.
- High rental concentration at 56.5% of housing units supports consistent tenant demand
- Strong neighborhood occupancy rate of 94.9% indicates stable rental market
- 1994 construction year provides newer vintage advantage over area average
- Projected 57% household income growth supports rent escalation potential
- Recent 32% decrease in property crime shows improving safety trends, though violent crime increases require monitoring